欧元/南非兰特 (EURZAR) 加自选

在米兰，富时MIB指数周三下跌550点，跌幅1.29%。MFE MediaForEurope（-5.99%）、Banca Generali（-3.63%）和UniCredit（-3.54%）领跌。

In Milan, the FTSE MIB Index dropped 550 points or 1.29 percent on Wednesday. Losses were led by MFE-MediaForEurope (-5.99%), Banca Generali (-3.63%) and UniCredit (-3.54%).

德国DAX指数经历了一个波动的交易日，周三微涨至23359点，因为投资者在当天晚些时候备受期待的美联储政策决定之前变得更加谨慎。尽管人们普遍预计美联储将在2025年的首次降息中至少降息25个基点，但重点将放在美联储鲍威尔关于进一步宽松政策的言论上。在数据方面，欧元区2025年8月的消费者价格通胀率从初步的2.1%下调至2.0%，与欧洲央行的目标保持一致。在企业方面，SAP领涨，上涨3.2%，杰富瑞维持买入评级和290欧元的目标价，预示着云计算的强劲增长和自由现金流前景。其他表现最好的公司包括大陆集团（+1.9%）、阿迪达斯（+1.7%）、费森尤斯医疗（+1.1%）、拜耳（+1.6%）和英飞凌科技（+1.3%）。相比之下，德国商业银行和西门子能源公司的亏损最大，分别下降2.8%和2.2%。

The DAX in Germany experienced a volatile session to close marginally up at 23,359 on Wednesday, as investors turned more cautious ahead of the highly anticipated Fed's policy decision later in the day. While the US central bank is widely expected to lower interest rates by at least 25 basis points in its first cut of 2025, the focus will be on Fed Powell's remarks for signals on further easing. On the data front, Eurozone consumer price inflation for August 2025 was revised down to 2.0% from a preliminary 2.1%, aligning with the ECB’s target. On the corporate front, SAP led the gains, rising 3.2%, as Jefferies maintained a Buy rating and EUR 290 price target, pointing to resilient cloud growth and free cash flow outlook. Other top performers included Continental (+1.9%), Adidas (+1.7%), Fresenius Medical Care (+1.7%), Bayer (+1.6%) and Infineon Technologies (+1.3%). By contrast, Commerzbank and Siemens Energy posted the biggest losses, down 2.8% and 2.2%, respectively.

周三，富时MIB指数下跌1.3%，收于41955点，投资者正在等待为期两天的联邦公开市场委员会会议的结果，市场预计，由于劳动力市场恶化的迹象，利率将下调25个基点。在企业方面，联合信贷银行（-3.6%）下跌，此前首席执行官Andrea Orcel强调波兰、意大利和德国是潜在的并购目标。今年早些时候，联合信贷银行对Banco BPM（-1.5%）的收购失败，而德国的反对意见阻碍了与德国商业银行的交易，通过衍生品转换，联合信贷的股份将在年底前增至29%。其他意大利银行也下跌（联合圣保罗银行-1.3%，Banca Mediolanum银行-1.8%）。法拉利（-2.6%）和莱昂纳多（-2.5%）下跌，而Nexi（+1.9%）表现优异。

The FTSE MIB fell 1.3% to close at 41,955 on Wednesday as investors awaited the outcome of the two-day FOMC meeting, with markets expecting a 25bps rate cut on evidence of a deteriorating labor market.On the corporate front, UniCredit (-3.6%) slumped after CEO Andrea Orcel highlighted Poland, Italy, and Germany as potential M&A targets. UniCredit’s bid for Banco BPM (-1.5%) collapsed earlier this year, while German opposition has stalled a deal with Commerzbank, where UniCredit’s stake is set to rise to 29% by year-end through derivative conversion. Other Italian banks also fell (Intesa Sanpaolo -1.3%, Banca Mediolanum -1.8%). Ferrari (-2.6%) and Leonardo (-2.5%) declined, while Nexi (+1.9%) outperformed.

巴黎CAC 40指数周三下跌0.4%，至7787点，延续了前一交易日下跌1%后的更广泛回落，因为投资者在美联储当天晚些时候的政策决定之前分析了最新的欧元区通胀数据。欧元区8月份消费者价格通胀率降至2.0%，略低于初步估计的2.1%，因为能源成本下降幅度超过首次报告。总体通胀率已连续第三个月达到欧洲央行2%的目标，这增强了人们对政策将在一段时间内保持不变的预期。市场还关注美联储，外界普遍预计美联储将降息25个基点，以及美联储主席杰罗姆·鲍威尔（Jerome Powell）为未来政策路径提供指导的新闻发布会。在个股中，法国巴黎银行（-1.9%）、泰雷兹（-1.7%）、道达尔能源（-1.3%）和赛峰集团（-1.4%）上涨。

Paris’s CAC 40 fell 0.4% to 7,787 on Wednesday, extending a broader pullback after a 1% drop in the previous session as investors parsed the latest euro area inflation print ahead of the US Federal Reserve’s policy decision later in the day. Euro area consumer price inflation eased to 2.0% in August, slightly below a preliminary 2.1% estimate as energy costs fell more than first reported. Headline inflation has now matched the European Central Bank’s 2% target for a third straight month and that has reinforced expectations that policy will remain on hold for some time. Markets are also focused on the Fed, which is widely expected to deliver a 25 basis point cut and on Chair Jerome Powell’s press conference for guidance on the path of future policy. Among individual stocks, gains came from BNP Paribas (-1.9%), Thales (-1.7%), TotalEnergies (-1.3%), and Safran (-1.4%).