London — European equity markets traded narrowly on Wednesday, with the pan-regional Stoxx 600 fluctuating near 576.9 points amid muted risk appetite ahead of the U.S. Federal Reserve’s final policy decision of the year. Price action across leading national indices remained shallow: FTSE 100 +0.14%, CAC 40 −0.33%, DAX −0.49%, FTSE MIB −0.49%, IBEX −0.18%. The clearest single-stock move came from Delivery Hero, rising close to 6% after the company said it is “evaluating strategic options to strengthen financial performance,” according to The WP Times citing СNBS News.
In a shareholder letter released late Tuesday, the Berlin-based company stated that it is considering capital allocation adjustments and partnership models for selected regions, indicating that future restructuring could be market-specific. The document noted that the group remains focused on delivering “sustainable financial improvements”, but provided no timetable, no country details and no transactional figures. The announcement placed Delivery Hero among the day’s most traded consumer-tech stocks in Europe.
The macro backdrop remained centred on the Federal Reserve, which is widely expected to deliver a third consecutive 0.25 percentage-point cut, with CME FedWatch probability readings at 87.6%. Forecasts for January pricing show a 69.3% likelihood that the target range will settle at 3.50–3.75%, indicating expectations of a policy pause into early 2026. Meeting observers expect scrutiny of two documents: the post-decision statement and Chair Jerome Powell’s press conference. Deutsche Bank’s Jim Reid wrote on Wednesday morning that “there may be dissent in both hawkish and dovish directions,” adding that consensus may require signalling that additional cuts in early 2026 face a higher threshold.
Political commentary also intersected with sentiment. In an interview published Tuesday, U.S. President Donald Trump characterised European leadership as “weak” and stated that “Europe doesn’t know what to do,” referencing migration management and strategic alignment regarding Ukraine. His remarks followed the publication of a revised U.S. national security framework questioning European reliability as an ally.
Corporate activity drew separate market focus. Shareholders of Anglo American and Teck Resources approved a merger plan expected to create a top-five global copper producer, pending regulatory clearance. Deutsche Bank analysts called the proposal a “multi-year growth structure supported by synergies and low-capex expansion”. In early London trading, Anglo American shares traded around 1% higher.
In France, labour action gained momentum as CGT called for strikes at LVMH champagne subsidiaries — including Moët & Chandon and Veuve Clicquot — to secure year-end bonuses. LVMH stock traded −0.3% in the morning session.
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