Markets cautious ahead of Fed meeting

European stocks remain fairly steady while Asian markets traded higher on Wednesday ahead of a Federal Reserve policy meeting.
 
Europe recuperated the ground it lost on Tuesday following an Italian credit rating downgrade after news emerged that Greece is “making good progress” in reaching a deal regarding the next tranche of €8bn as part of the bailout with the EC, the IMF, and the ECB.

In Asia the Nikkei Stock Average increased 0.5 percent, the Kospi rose by one percent, and the Shanghai composite Index climbed 2.2 percent.