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LYG

European Bourses Slip As FOMC Meets

European stocks eased as the Federal Open Market Committee begins its two-day policy meeting.

Economists expect the Fed to trim its bond-buying program by $10 billion.

Around the region, car makers were under pressure after a report from the European Automobile Manufacturers' Association showed European car sales fell 4.9% in August.

The ZEW economic sentiment indicator rose to 49.6 points in September for Germany, from 42.0 points in August and beating economists' expectations for a rise to 46.0 points. By comparison, the historical average is 23.8 points.

The current account surplus for the eurozone region fell to a surplus of 16.9 billion euros ($22.6 billion) in July, following an upwardly revised EUR19.8 billion in June. The data are adjusted for seasonal effects and consider the number of working days each month.

In ADR news, Lloyds Banking ( LYG ) slips after the U.K. government sells a 3.2 billion-pound ($5.1 billion) stake in the company. The transaction reduced the government's stake to 32.7% from 38.7%.

The FTSE-100 was last down 0.8% at 6,570.17, the DAX down 0.19% at 8,596.95 and the CAC-40 down 0.16% at 4,145.51.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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