Limited Movements in European Stocks Before Federal Reserve's Interest Rate Decision

European stocks moved within a limited range on Tuesday, with the Stoxx 600 index rising by 0.1%. Bank and technology shares led the gains, climbing by 1.2% and 0.8% respectively, while oil and gas shares fell by 0.9%. The Federal Reserve is expected to raise interest rates by 25 basis points, and investors are watching to see if the U.S. central bank will signal a pause in rate hikes after May. HSBC Holdings' stock jumped 3.9% after quarterly earnings exceeded expectations, tripling due to increased bank income from global rate hikes. Electrolux’s stock rose by 6.6%, becoming the biggest winner on the index following reports of a potential acquisition by China's Midea Group. BP's stock fell by 3% after the company scaled back its share buyback plan, although it reported a profit of $5 billion in the first quarter of 2023, up from the previous three months.