Ibovespa Steady as Markets Await Copom and Fed Decisions

The Ibovespa traded near flat around 158,000 on Wednesday as investors braced for the final monetary policy decisions of the Central Bank and the Fed, while digesting fresh inflation data.

Copom is set to announce its last decision of the year later today, with broad expectations for the Selic to remain at 15%, as markets look for signals on when cuts may begin in 2026.

The Fed also decides today, and traders remain confident of a 25 bp rate cut.

Meanwhile, Brazil’s annual inflation eased to 4.46% in November, slightly below forecasts.

Among blue chips, major banks traded mostly lower, with Itaú down about 6%.

In contrast, Vale advanced nearly 2% on stronger iron ore prices, and Petrobras edged up amid firmer oil.

WEG gained over 0.6%, Ambev fell nearly 3%, and steelmakers traded higher, with CSN up 3% and Gerdau rising 0.8%.

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TSX Futures Steady Ahead of Fed and BoC Decisions

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Futures tied to the S&P/TSX Composite Index were flat on Wednesday as investors turned cautious ahead of interest rate decisions from the Bank of Canada and the US Federal Reserve.

Markets widely expect the BoC to keep its benchmark rate unchanged at a three-year low of 2.25% later today.

Meanwhile, the Fed concludes its final meeting of the year and is broadly expected to deliver a 25-basis-point cut.

In commodities, oil prices rose as investors assessed a sharp drop in US crude inventories, ongoing Ukraine peace talks and the prospect of a Fed rate cut, supporting Canadian producers.

In contrast, gold prices slipped, weighing on local miners.

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US Futures Cautious Ahead of Fed

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Futures on the three major US averages hovered around the flatline on Wednesday as traders avoided making large moves ahead of the FOMC’s policy decision.

The Fed is expected to deliver a third straight 25 bps cut to the fed funds rate, but the focus will be on updated projections.

Policymakers remain divided on the need for further cuts, with some favouring additional reductions to counter further labour-market weakness, while others worry that more easing could reignite inflation.

Megacaps were mixed in premarket trading: Nvidia edged up 0.2%, while Apple traded little changed.

Amazon was also flat after announcing plans to invest $35 billion in India over the next five years.

Conversely, Microsoft fell 1.4% after outlining a $17.5 billion investment in India over the next four years to expand its cloud and AI infrastructure.

Meta (-0.8%) and Alphabet (-0.6%) also traded lower.

Meanwhile, Oracle gained 0.4% ahead of its quarterly earnings release.

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FTSE 100 Advances After Recent Weakness

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BRUSSELS (dpa-AFX) - After three successive days of declines, U.K.'s FTSE 100 moved higher on Wednesday with select stocks finding good support. The mood was cautious with investors awaiting the Federal Reserve's monetary policy announcement due later in the day.

The U.S. Central Bank is widely expected to lower interest rate by 25 basis points. The bank's accompanying statement and Fed Chair Jerome Powell's comments are eyed for clues about future interest rate stance.

The FTSE 100 was up 27.39 points or 0.29% at 9,669.40 a few minutes before noon.

Pearson, the top gainer in the FTSE 100 index, moved up 4.2%. Scottish Mortgage surged 3.3%, while Berkeley Group Holdings and HSBC Holdings advanced by 2.5% and 2.2%, respectively.

Berkeley Group Holdings shares rose after the homebuilder mainained its full-year pre-tax profit guidance for fiscal 2026 despite posting weaker interim revenues and profits.

Anglo American Plc gained nearly 1% after its shareholders voted overwhelmingly in favor of a merger of equals with Canadian miner Teck Resources Limited.

Tesco, Standard Chartered, WPP, Rio Tinto, Endeavour Mining, Antofagasta, Relx, Anglo American Plc, Glencore and British American Tobacco also posted strong gains.

Mondi, St. James's Place, Kingfisher, Airtel Africa, BAE Systems, Halma, Vodafone Group, Phoenix Group Holdings and Prudential lost 1 to 1.6%.

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Indian Stocks Down for 3rd Day

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India's BSE Sensex erased early losses to close about 0.3% down at 84,391 on Wednesday, marking the third session of losses, as selling pressure increased ahead of the US Federal Reserve’s policy outcome.

A 25 bps rate cut is largely anticipated but a potential more hawkish 2026 outlook kep investors on edge.

Meanwhile, the domestic market continued to be affected by persistent FII outflows, currency weakness and delays in the US-India trade deal.

Eternal, Trent, Bharti Airtel, Infosys and Tech Mahindra were among the biggest decliners, losing between 1% and 3%.

Heavyweight financial stocks slipped 0.5%, while IT index dropped 0.9%.

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CAC 40 Down Ahead Of Fed Rate Decision

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BRUSSELS (dpa-AFX) - French stocks fell on Wednesday with investors treading cautiously ahead of the Federal Reserve's monetary policy announcement due later in the day. Remarks from some European Central Bank officials that the bank will likely adopt a pragmatic, wait-and-see approach with regard to future policy stance weighed a bit on sentiment.

Meanwhile, French lawmakers have approved the 2026 social-security budget. This is likely to provide some relief to Sébastien Lecornu's minority government.

The benchmark CAC was down 35.73 points or 0.44% at 8,016.78 a few minutes past noon.

Thales drifted down nearly 3%. Renault lost 2.25%, while Vinci and Euronext shed nearly 2%.

Accor, Hermes International, Orange, Capgemini, Veolia Environment, Dassault Systemes, Bouygues, Stellantis, Sanofi and Michelin lost 0.6 to 1.4%.

Carrefour gained about 0.8%. Outdoor advertising company JCDecaux is partnering with Carrefour CA , Carmila CARM , and Unlimitail to develop retail media across Carrefour and Carmila sites in France and Spain.

Societe Generale gained nearly 1%. Eurofins Scientific, Unibail Rodamco and Bureau Veritas posted modest gains.

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DAX Slids More Than 0.5% In Cautious Trade Ahead Of Fed Rate Decision

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