Stock indices traded slightly higher ahead of the Fed’s interest later in the day. Market participants expect the Fed will cut its monthly asset purchases by another $10 billion to $35 billion, but the Fed will keep its interest rate unchanged until 2015.

The violence in Iraq still weighed on stock markets.

The Bank of England (BoE) released its June meeting minutes. The Bank of England policymakers were surprised that financial markets had not saw a higher chance of an interest rate hike in 2014. But there are still concerns over interest hike this year. The BoE said interest rise could reduce production capacity and it is difficult to revoke the decision.

Current figures:

Name                                   Price                                    Change                 Change %

FTSE 100                             6,795.99                              +29.22                        +0.43%

DAX                                      9,940.18                              +19.86                       +0.20%

CAC 40                                 4,540.01                                +3.94                       +0.09%