CAC 40 Modestly Higher As Weak Oil Prices Aid Recovery

(RTTNews) - Thanks to easing crude oil prices and lower bond yields, France's equity benchmark CAC 40 edged higher on Wednesday, recovering from a four-month low it touched in the previous session. However, the mood remained somewhat cautious as investors looked ahead to the Federal Reserve's monetary policy announcement, due later in the day. The U.S. central bank is widely expected to raise interest rate by 25 basis points. The accompanying statement is in focus for clues about Fed's future interest rate path. Oil prices eased after industry data showed an unexpected build in U.S. crude inventories and reports emerged that Saudi Arabia is offering more crude oil to Asian refiners through ship-to-ship transfer off Oman's Sohar port.