European shares edge higher with Fed decision in focus


European shares edged higher on Wednesday ahead of the U.S. Federal Reserve's rate decision later in the day, while UK data showing inflation eased more than expected in August helped British stocks outperform regional peers.


The pan-European STOXX 600 index gained 0.3% after two consecutive sessions of losses, as healthcare shares climbed nearly 1% by 0709 GMT.


Capping early gains, shares of LVMH eased 0.4% on being downgraded to "hold" by Jefferies and having its price target trimmed by Deutsche Bank, as investor sentiment surrounding the China-exposed luxury giant cooled.


Jefferies also downgraded Kering (EPA:PRTP) and Moncler, sending their shares down 0.8% and 0.9%, respectively.


Investor focus will be on the Fed's rate decision, where the U.S. central bank is expected to stand pat on rates.


UK's export-oriented FTSE 100 gained 0.6% as the pound slid after British annual consumer price inflation (CPI) unexpectedly fell in August, pushing investors to scale back their bets on rate hikes by the Bank of England, a day before its next policy announcement.


Pearson fell 4.5% after the British education group said it has appointed Microsoft (NASDAQ:MSFT) executive Omar Abbosh as its new CEO, effective early 2024.


Shares of Just Eat Takeaway jumped nearly 6% after a federal judge said on Tuesday the company's U.S. unit Grubhub and other food delivery groups can sue New York City over a law capping how much it can charge restaurants for delivering meals.


Source : Economy News by Reuters / September 20, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.