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European Shares Set For Subdued Start Before Fed Meeting


European stocks may open on subdued note Tuesday as investors await the outcome of central bank meetings this week.

The U.S. Federal Reserve kicks off its two-day policy meeting later today, though no changes to policy are expected given the indication from its chairman Jerome Powell of a "patient" approach to interest rate adjustments.

The Bank of England is expected to maintain the status quo when it meets on Thursday.

In Asia, central banks in Indonesia, the Philippines, Taiwan and Thailand all have monetary policy meetings this week.

EU leaders will gather in Brussels on Thursday for a two-day summit, with Brexit set to top the agenda.

Asian stocks are moving in a narrow range as investors braced for dovish commentary from the Fed.

The British pound recovered some ground after slipping to as low as
$1.3183 overnight amid fresh Brexit worries while oil held just below 2019 highs on signs of inventory declines in U.S. crude stockpiles.

Overnight, U.S. stocks ended modestly higher, with news on the merger and acquisition front and renewed hopes for a U.S.-China trade deal offering support.

The Dow inched up 0.3 percent, while the tech-heavy Nasdaq Composite and the S&P 500 added 0.3 percent and 0.4 percent, respectively to close at their best levels in over five months.

European stocks rose for the fourth straight session on Monday as merger talks between Deutsche Bank and Commerzbank boosted banking stocks across the region.

The pan European Stoxx 600 gained 0.3 percent. The German DAX slipped 0.3 percent, while France's CAC 40 index rose 0.1 percent.

The U.K.'s FTSE 100 rallied 1 percent on the back of a weaker pound as the speaker of Britain's parliament banned another vote on same Brexit deal.

John Bercow, the speaker of Britain's House of Commons, said the government couldn't keep asking lawmakers to vote on the same deal they have already rejected twice.

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