Shares Seen Steady Ahead of Fed Decision


European shares looked set to open little changed on Wednesday as investors braced for a slew of corporate earnings and an interest rate decision by the U.S. Federal Reserve, which could mark the end of the Fed's cutting cycle.

The Federal Open Market Committee will unveil its decision later Wednesday, when it is expected to cut rates by a quarter percentage point to 2 percent, which would take its total rate slashing over the past seven months to 3.25 percentage points.

Particular attention will be paid to the Fed's post-meeting statement, which is expected to answer the key question of whether the central bank has come to the end of its easing cycle.

Financial spreadbetters in London expected Britain's FTSE 100 index to open between 8 and 3 points lower, the German DAX between 13 and 24 points higher, and the French CAC 40 10 to 12 points higher.

A raft of corporate earnings from companies such as Siemens, SAP, Clarian, FMC and SEB will also be in the spotlight.

European shares fell 0.8 percent on Tuesday, breaking a four-day winning run, as weak banks and miners offset the impact of buoyant oil stocks.