european shares were lower on wednesday in a cautious opening session with the federal reserve rate decision due later and as a barrage of earnings had investors looking for clues on the health of the economy ahead of the fed us markets were holding broadly steady with stock futures close to flat and treasury yields and the dollar both fractionally lower a slew of corporate results are on deck as earnings season rolls on wednesdays highlights include cocacola boeing meta chipotle and mattel although the fed is widely expected to raise rates by 25 basis points in its decision later the accompanying announcement should point to a risk of further increases and be mildly positive for the dollar ing said we think it is too early to remove key language from its statement that further tightening may be appropriate after todays 25bp hike ing said adding that the fed may want to push back against the 100 basis points of easing priced in for 2024 the dxy dollar index has potential to rise towards 10200 ing said read fed might raise rates further after expected hike on wednesday pave finance says read ecb seen continuing rate rises despite weakening growth insight investment says the seasonal issuance hiatus in the eurozone government bond markets over the summer months has typically helped bond performance but historically high issuance needs point to rising yields bnp paribas asset management said this coupled with continued strength in the labor market and wage inflation in the absence of a large external growth shock also pose upside risks to yields the bank said it expects the 10year german bund yield to settle in a higher range between 225 and 3 in the coming months commerzbank research said bunds are expected to move in narrow ranges ahead of the fed and ecb meetings commerzbank research said with markets unlikely to precommit ahead of todays fed and tomorrows ecb meeting bunds look set to stay in the recent ranges meantime mizuho said the worst for eurozone government bonds is mostly likely over and the best way to play the late summer season is to buy the dips oil prices edged lower as investors await the outcome of the fomc meeting and any signal from the fed that they have more to do will likely put some downward pressure on risk assets including oil ing said base metals weakened while gold rose ahead of the feds call on interest rates with deutsche bank saying the bigger question for markets will be if the statement and presser signal anything about the likelihood of further hikes ahead natwest group chief executive alison rose has stepped down after her conversation with a journalist about an outspoken brexit campaigner engulfed the bank in a political drama the move came less than a day after rose admitted a serious error of judgment in talking to a journalist about the decision by coutts a natwest subsidiary that caters to the rich to close the account of nigel farage a wellknown and divisive political figure in the uk deutsche bank on wednesday reported a decline in secondquarter earnings after a rise in costs and loanloss provisions and separately said late on tuesday that it plans to resume buying back shares in august the german lenders profit attributable to shareholders in the quarter fell to 763 million euros 8435 million from eur105 billion in the prior year while total revenue grew 11 to eur741 billion gsk plc on wednesday raised its fullyear guidance after reporting a more than doubled secondquarter net profit which beat market forecasts the british pharmaceutical giant attributed its performance to strong sales in hiv and vaccines together with continued strengthening of its rd pipeline and product portfolio mining giant rio tinto reported a 43 drop in firsthalf net profit and pared its payout to shareholders reflecting a fall in commodity prices as chinas economic recovery faltered the worlds secondbiggest miner by market value on wednesday said it made a net profit of 512 billion in the six months through june down from 894 billion a year earlier unicredit said wednesday that it has raised its 2023 guidance including on shareholder returns as secondquarter profit and revenue beat expectations driven by rising interest rates that boosted net interest income the italian bank reported quarterly net profit of 231 billion euros 255 billion higher than the eur201 billion in the same period of last year spains banco santander said wednesday that secondquarter net profit rose and beat expectations as higher interest rates boosted its top line adding that it is on track to hit its targets for the full year the madridbased lender made a net profit of 267 billion euros 295 billion for the apriljune quarter compared with eur235 billion it reported for the same period last year it said danone on wednesday said it expects to meet the upper end of guidance for the year after firsthalf sales and earnings came in above expectations the french yoghurt maker booked sales of 724 billion euros 8 billion in the second quarter 64 higher than in the yearearlier period on a likeforlike basis this beat analysts expectations for eur721 billion according to estimates compiled by the company and takes the total for the years first six months to eur1417 billion in sales puma said wednesday that earnings fell in the second quarter as a result of higher costs and currency effects the german sportinggoods company said it made 55 million euros 608 million in net profit for the quarter compared with eur843 million in the same period a year prior on revenue that grew 59 on a reported basis to eur212 billion orange on track to achieve 2023 targets after 1q revenue rise orange said wednesday that it is on track to achieve its 2023 targets after it reported higher revenue and slightly lower earnings for the second quarter the french telecommunications company said earnings before interest taxes depreciation and amortization after leases for the quarter were 3305 billion euros 365 billion down 02 on year on a comparable basis ebitda after leases rose 1 orange said nissan to invest up to 663 million in renault ev spinoff tokyonissan motor said wednesday that it will invest up to 600 million euros equivalent to about 663 million in the electricvehicle unit to be carved out of its longtime alliance partner renault the investment is part of broader alliancerestructuring plans the companies jointly announced in february with its investment in renaults ev spinoff called ampere nissan said it would secure a seat on the new companys board us eurozone should avoid recession but uk looks vulnerable says candriam  interview the us and eurozone should avoid recession in the second half of this year but the uk might not be so lucky while emergingmarket countries have brighter prospects candriam global head of multiasset nadege dufosse told dow jones newswires us and eurozone growth is expected to be weak helping inflation to slow which should enable the federal reserve and european central bank to raise interest rates just once or twice more before pausing in the coming months she said in an interview pratt  whitney engines on hundreds of airbus jets recalled for inspection hundreds of airbus jetliners will require inspections after a new problem with their pratt  whitney engines adding another potential airline disruption in coming months pratt parent rtx said recently discovered contamination in the metal used to make some engine parts required the planes to be inspected to check on whether repairs were required the american luxury shopper is in retreat the worlds largest luxury goods conglomerate lvmh said sales fell slightly in the usjust recently the industrys fastestgrowing market and a key driver of its postpandemic boom norways security officials warned around 20 critical infrastructure companies other businesses and public agencies in the country they might also be vulnerable to a cyberattack disclosed monday that hit 12 government ministries a newfound vulnerability in management software from utahbased company ivanti is being exploited by unknown hackers said sofie nystrøm director general of the norwegian national security authority fed set to raise rates to 22year high heres what to focus on the federal reserve is set to raise interest rates by a quarterpercentage point on wednesday to a 22year high with most investors focused on what it would take for the central bank to lift rates again later this year economic growth has likely been too firm in recent months for fed chair jerome powell to signal that wednesdays increase in the feds benchmark shortterm rate will be the last of the current tightening cycle as investors anticipate the recent slowdown in inflation also makes it hard for central bank officials to firm up plans for any additional rate increase