European Closing Update: Investors Missing In Action

LONDON -- European markets were missing that essential ingredient on Wednesday -- investors.

The indifference ahead of the Federal Reserve's interest rate decision ensured that the FTSE 100 spent a largely meaningless session drifting to end down 61.8 points, or 1.0%, at 6,313.5, while the Techmark closed down 13.9 points, or 0.4%, at 3,400.1.

The telecom sector accounted for much of the overall decline in the Footsie. Index heavyweight Vodafone AirTouch (VOD Quote) retreated 11.5p, or 3.9%, to 286 ($4.32), accounting for half the index's fall, while Energis (ENGSY Quote) shed 49p, or 1.8%, to 26.26 and Colt Telecom (COLTY Quote) fell 71p, or 3.0%, to 22.90. ...