LONDON — European stock markets edged down in midmorning trading on Thursday, hours before the U.S. Federal Reserve was set to announce its decision on interest rates. If Fed officials are feeling bullish, the U.S. could see its first interest rate rise since 2006.
The only market that gained marginal ground was the DAX in Frankfurt, which climbed 0.1 percent to 10,235.58.
The FTSE 100 in London was down 0.2 percent to 6,214.52, followed by the FTSE MIB in Milan and the CAC 40 in Paris, up 0.2 percent to 22,038.51 and up 0.2 percent to 4,642.71, respectively.
The euro traded at $1.13, while the pound fetched $1.54, and the Swiss franc equaled $1.03 at 11:00 a.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Moncler, 1.2 percent to 15.73 euros; Burberry Group, 1.6 percent to 13.92 pounds, and Aeffe, 1.3 percent to 1.37 euros.
Among the stocks to gain the most ground were Adidas, 1 percent to 67.57 euros; Kering, 1.5 percent to 153.90 euros, and MySale Group, 2.3 percent to 0.56 pounds.
The Fed’s decision is set to be announced later today, and analysts are divided as to whether policy makers will keep rates at historic lows, or raise them as a sign that the economy is picking up.