European stocks nudge higher ahead of Fed, led by banks and insurers

European stocks on Wednesday leaned higher ahead of a key U.S. interest rate decision. After dropping for two sessions, the Stoxx Europe 600 index (XX:SXXP) increased 0.07% to 389.62, led higher by banks and insurers. Attention in markets turned to the Federal Reserve, with the central bank expected at 2 p.m. Eastern — after European markets close — to announce that it’s reducing its key interest rate by a quarter-point, cutting rates for the second straight meeting.