European shares steadied after early declines on Wednesday, as technology shares helped offset losses in luxury goods, while many investors remained on the sidelines ahead of an expected reduction in U.S. borrowing costs by the Federal Reserve.
Apple Inc’s component suppliers AMS, STMicro and Infineon posted some of the biggest gains on the European technology subsector after strong pre-orders for the latest iteration of iPhone.
Tech stocks rose 0.4%, while the pan-European STOXX 600 index edged 0.1% higher.
Early market action remained tepid ahead of the Fed’s policy statement at 2 p.m. EDT (18:00 GMT), where it is expected to reduce U.S. interest rates for the second time this year.
Source : Reuters