Europe close: Stocks slip ahead of Fed rate announcement
European shares finished mostly higher heading into the US central bank's rate decision scheduled for Wednesday evening.
The pan-European Stoxx 600 was up 0.31% at 471.01, alongside a 0.23% rise on the French Cac-40 to 6,937.12, while the FTSE Mib was up 0.53% to 26,698.05.
Spain's Ibex 35 on the other hand gave back 1.24% to end the day at 8,275.0.
"Apart from some gains in European markets, stocks remain on the back foot, as investors across the globe prepare for a busy 24 hours in the world of central banking," said Chris Beauchamp, chief market analyst at IG.
"The most important decision comes through tonight, with the Fed expected to quicken the pace of tapering and also provide an updated dot plot that will allow markets to spend their Christmas and New Year examining the tea leaves and deciding on what 2022 might bring in terms of rate hikes."
Investors will be watching closely for commentary around whether the Federal Reserve plans to accelerate the end of its bond-buying program. At present, the central bank’s asset purchase program will end in June 2022, but several officials have spoken about ending the purchases sooner.
Fed officials' current forecasts for interest rates next year will also be key.
Across the Channel, stocks in London weakened following a stronger-than-expected print for UK consumer prices in November, while Asian stocks slipped overnight after the release of unexpectedly soft retail sales data out of China.
In equity news, sales and marketing firm DCC shot higher after announcing it had bought US sales and distribution business Almo for around $610.0m, marking its largest acquisition to date.
Generali gained as the Italian insurer pledged to return up to €6.1bn in dividends and buybacks to shareholders.
Shares in IAG fell after the British Airways owner said it was in advanced talks to cancel its acquisition of rival Air Europa from Spanish company Globalia.
Miners fell, with Rio Tinto, Anglo American, Antofagasta, Glencore and BHP all lower as metals prices retreated.
Cineworld tumbled nearly 40% after it was ordered to pay Canadian theatre company Cineplex CAD1.28bn (£751.57m) in damages after pulling out of a planned takeover.
Electricals retailer Currys slid after it reported higher first-half profits but warned its market has been softer over recent weeks and it could face more headwinds from the Omicron Covid variant.
Colyrut shares fell almost 10% after the company said earning slumped 30%.