European stocks moved in a narrow range on Wednesday as investors refrained from taking risky bets ahead of an upcoming decision by the Federal Reserve on interest rates and the future of monetary policy.
The European STOXX 600 index rose slightly by 0.1 percent by 0810 GMT, with the rise of shares in the real estate and technology sectors, which are highly sensitive to interest, and the shares of energy companies fell due to the decline in oil prices.
Investors expected the US Federal Reserve to keep interest rates unchanged later on Wednesday, as US inflation data released on Tuesday did little to change bets on lowering interest rates next year.
The focus will be on US Federal Reserve Chairman Jerome Powell's statements and short-term interest rate expectations to anticipate indicators of the timing of monetary policy easing.
Entain Betting and Gambling shares jumped 4.6 percent with the announcement that the company's CEO would step down with immediate effect.
German chemical giant BASF shares increased 3.2 percent after UBS raised the recommendation for the company's stock to buy from sell, which pushed the chemical sector to rise about 1 percent.
LVMH shares lost 1 percent after JP Morgan lowered its recommendation to buy shares of the luxury goods giant.
