European Stocks Mixed as Investors Await Fed Decision and Economic Data

European stock markets traded in a mixed fashion Tuesday, as investors digested regional economic data ahead of the start of the final policy meeting of the Federal Reserve this year. Average earnings in the UK rose by more than expected in the three months to October, data showed earlier Tuesday, prompting concerns that the Bank of England will be even slower with rate cuts, despite economic weakness. Earnings were 5.

2% higher in the three months to the end of October than a year earlier, above the 5.0% forecast. The Bank of England next meets on Thursday, and is widely expected to hold rates unchanged, continuing its cautious approach to easing monetary policy as inflationary concerns remain. Data out of Germany, the eurozone’s largest economy, was also disappointing, as business morale worsened more than expected in December, weighed down by geopolitical uncertainty and a domestic industrial slump. This is widely expected to result in a 25-bps rate reduction when the meeting concludes on Wednesday, meaning that most investors will be looking to see what the policymakers signal about the pace of easing next year. (Company name) stock fell over 4% after the business supplies distributor said stickier-than-anticipated deflation will have a slight impact on its annual profit, especially in its Continental Europe division. Crude prices fell Tuesday, weighed by a bout of profit-taking ahead of the latest Federal Reserve policy meeting. Crude prices are falling from the multi-week highs seen last week, with Monday’s weak retail sales data out of China prompting profit-taking as investors fretted about the health of the second largest economy in the world. Traders have also moved into a holding pattern ahead of the Fed's meeting, reluctant to hold significant positions ahead of this potentially market-moving event

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