Fed meeting on rates restrain markets


Frankfurt Dax: 3321.84 (+23.60)

The German IBIS DAX index ended the day higher with traders hesitant to take up any new positions in advance of today's Federal Open Market Committee (FOMC) meeting in the United States.

The IBIS DAX index of 30 blue-chip German shares ended the day at 3302.57 points. Earlier the DAX ended at 3321.84 points, up 23.60 points.

The FOMC meeting, the policymaking unit of the US Federal Reserve, would result in a rise in key interest rates.

Paris CAC-40: 2579.28 (-7.85)

In Paris, shares climbed at the opening but later slipped in and out of profit as investors focused attention on the FOMC meeting and optimism ebbed away. Among individual stocks, Lyonnaise des Eaux rose 2.67 percent to 576 francs and Suez was up 2.4 percent at 287.10 following newspaper reports the two were preparing a merger.

Milan Mibtel: 11647 (-148)

Italian shares ended lower in modest volumes after spending most of the afternoon session above the session lows.

As in other markets, most player stayed out of the market ahead of the Federal Reserve meeting today.