European stocks close: stocks closed higher ahead of the Fed’s interest rate decision
Stock closed higher ahead of the release of the Fed's interest rate decision later in the day. Analysts expect the Fed to keep its interest rate unchanged.
Market participants also eyed the economic data from the Eurozone. Eurostat released its trade data for the Eurozone on Wednesday. Eurozone's unadjusted trade surplus declined to €27.5 billion in April from €28.6 billion in March, beating expectations for a fall to €26 billion. Exports fell at an unadjusted annual rate of 1.0% in April, while imports dropped 5.0%.
The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate declined to 5.0% in the February to April quarter from 5.1% in the January to March quarter. It was the lowest level since October 2005.
Analysts had expected the unemployment rate to remain unchanged.
Average weekly earnings, excluding bonuses, climbed by 2.3% in the February to April quarter, exceeding expectations for a 2.1% rise, after a 2.2% gain in the January to March quarter. The previous quarter's figure was revised up from a 2.1% rise.
Average weekly earnings, including bonuses, rose by 2.0% in the February to April quarter, exceeding expectations for a 1.7% gain, after a 2.0% increase in the January to March quarter.
The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.
Indexes on the close:
Name Price Change Change %
FTSE 100 5,966.8 43.27 0.73 %
DAX 9,606.71 87.51 0.92 %
CAC 40 4,171.58 41.25 1.00 %