European markets closed mixed on Wednesday as investors digested Germany's significant fiscal policy changes and awaited key monetary policy updates.
Germany's parliament approved a substantial €500 billion spending package to boost economic growth and military expenditures. Investors also focused on upcoming monetary policy decisions, with the US Federal Reserve expected to maintain its key interest rates steady at 4.5%.
At the close, the DAX lost 0.44%, with Rheinmetall AG down 4.44%. The CAC 40 fell 0.70%, and the pan-European Euro Stoxx 50 edged up 0.43%. In both indexes, Schneider Electric improved by 3.17%. The FTSE 100 ended the session flat.
In currency markets, the euro and the British pound were down by 0.54% and 0.21% against the dollar at 5:30 pm CET, selling for $1.08859 and $1.29743 simultaneously.
