European Stocks Rise for a Second Day as Fed Meets

LONDON ( The Deal) -- European markets rose for a second day Wednesday as investors awaited the outcome of the U.S. Federal Reserve monetary-policy meeting and digested minutes released Wednesday from the June 4-5 Bank of England meeting.

In London, the FTSE 100 rose 0.40% to 6,793.62, while in Frankfurt the DAX added 0.21% to 9,940.96. In Paris, the CAC 40 gained 0.10% to 4,540.46.

Shares in Zoopla Property Group rose as much as 7.3% in their debut on the London Stock Exchange. Shares in the real estate Web sites operator, backed by Daily Mail & General Trust, were priced at 220 pence a share, for a starting market valuation of 918.8 million pounds ($1.6 billion).

In Madrid, shares in Telefonica gained 1.21% to 12.58 euros, after Spain's largest phone company announced an offer to buy Mediaset's 22% stake in Spanish pay-TV company Distribuidora de Television Digital for 295 million euros.

Shares in Telefonica also got a boost from expectations that it will get the conditional nod from the European Commission for its 8.6 billion euros pursuit of Royal KPN's German E-Plus mobile unit.

At a closed-door meeting in Brussels Wednesday, representatives of some EU member states including Germany, Ireland, Austria and the U.K. were expected to voice concerns over that deal, which would cut the number of German mobile operators from four to three. The EC has until July 7 to wrap up its in-depth investigation.

Later Wednesday, all eyes will be on the U.S. Fed meeting where policy makers in the world's largest economy are expected to scale back economic stimulus and release a new set of quarterly forecasts.

If you liked this article you might like

AB InBev and SABMiller Shareholders Approve Deal

Global Week Ahead: German Business Climate, Eurozone Inflation and Draghi in Brussels

Zara Owner Inditex Outshines H&M With Better-Than-Expected First-Half Sales

Richemont Warns of 45% First-Half Operating Profit Slump

EU's Vestager Signals Tough Stance On Big Data