Stock indices traded higher amid the Federal Reserve’s interest decision on Wednesday. The mixed U.S. economic data weighed on stock markets. The consumer price index in the U.S. rose 0.4% in May. But there is a weakness in the U.S. housing sector. The U.S. housing starts declined by 6.5% to a seasonally adjusted 1.001 million units in May. The number of building permits in the U.S. fell by 6.4% to a seasonally adjusted 991,000 units in May.

The violence in Iraq also weighed on stock markets.

The ZEW Centre for Economic Research released its index for Germany and the Eurozone. The German economic sentiment dropped by 3.3 points to 29.8 in June from 33.1 in May. Analysts had expected an increase by 1.9 points to 35.0.

Eurozone’s ZEW economic sentiment climbed to 58.4 in June from 55.2 in May, missing expectations for a gain to 59.6.

The annual rate of inflation in the U.K. declined 1.5% in May, after 1.8% in April. That was the lowest level since October 2009.

Indexes on the close:

Name                                   Price                                    Change                 Change %

FTSE 100                              6,766.77                              +12.13                       +0.18%

DAX                                      9,920.32                               +36.34                       +0.37%

CAC 40                                 4,536.07                               +26.02                       +0.58%

U.S. stock-index futures fell as data showed housing starts declined more than estimated and the cost of living rose before the Federal Reserve begins its monetary-policy meeting.

Global markets:

Nikkei 14,975.97 +42.68 +0.29%

Hang Seng 23,203.59 -97.08 -0.42%

Shanghai Composite 2,066.7 -19.28 -0.92%

FTSE 6,740.69 -13.95 -0.21%

CAC 4,512.35 +2.30 +0.05%

DAX 9,877.29 -6.69 -0.07%

Crude oil $106.39 (-0.49%)

Gold $1262.60 (-0.99%)

(company / ticker / price / change, % / volume)

Upgrades:

Downgrades:

Travelers (TRV) downgraded to Mkt Perform from Outperform at BMO Capital Mkts  

Other:

Yahoo! (YHOO) reiterated at Buy at CRT Capital, target lowered from $45 to $41

Yahoo! (YHOO) reiterated at Outperform at Oppenheimer, target lowered from $43 to $40

Apple (AAPL) reiterated at Outperform at Cowen, target raised from $90 to $102

Stock indices rose slightly due to increasing regional car sales. European car sales increased for a ninth month by 4.3% in May.

But the violence in Iraq still weighed on stock markets.

The ZEW Centre for Economic Research released its index for Germany and the Eurozone. The German economic sentiment dropped by 3.3 points to 29.8 in June from 33.1 in May. Analysts had expected an increase by 1.9 points to 35.0.

Eurozone’s ZEW economic sentiment climbed to 58.4 in June from 55.2 in May, missing expectations for a gain to 59.6.

The annual rate of inflation in the U.K. declined 1.5% in May, after 1.8% in April. That was the lowest level since October 2009.

Current figures:

Name                                   Price                                    Change                 Change %

FTSE 100                             6,755.72                                +1.08                        +0.02%

DAX                                      9,900.97                              +16.99                       +0.17%

CAC 40                                 4,513.19                                +3.14                       +0.07%

Most Asian stock declined. Concerns over the violence in Iraq and the resulting possible impact of higher oil prices on global economic growth weighed on the risk-related currencies.

Shares in mainland China and Hong Kong came under pressure due to concerns over the health of China’s economy. China's foreign direct investment dropped 6.7% from a year earlier to US$8.6 billion last month.

Indexes on the close:

Nikkei 225                         14,975.97                   +42.68             +0.29%

Hang Seng                        23,203.59                    -97.08              -0.42%

Shanghai Composite           2,066.70                     -19.28              -0.92%

Konica Minolta Inc. shares rose 6.2% after JPMorgan Chase & Co. raised its rating.

SoftBank Corp. shares sank 2.5%.

Nikkei 14,933.29 -164.55 -1.09%

Hang Seng 23,300.67 -18.50 -0.08%

Shanghai Composite 2,085.98 +15.27 +0.74%

S&P 1,937.78 +1.62 +0.08%

NASDAQ 4,321.11 +10.45 +0.24%

Dow 16,781.01 +5.27 +0.03%

FTSE 1,383.95 -5.88 -0.42%

CAC 4,510.05 -33.23 -0.73%

DAX 9,883.98 -28.89 -0.29%