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Sept 18 (Reuters) - Losses in luxury stocks dragged European
shares lower on Wednesday, while investors remained wary of
making big bets ahead of a widely expected interest rate cut by
the U.S. Federal Reserve.
Swiss luxury goods group Richemont CFR.S fell nearly 5%,
weighing the most on the pan-European STOXX 600 index .STOXX ,
while Swatch UHR.S declined 2.4% after a bearish note by UBS.
The benchmark European index dipped 0.1%, with Paris-listed
shares .FCHI lagging the most.
The Fed is due to release its policy statement at 2 p.m. EDT
(1800 GMT), where it is expected to reduce U.S. borrowing costs
for the second time this year, despite deep divisions among
policymakers about whether a cut is needed. French utility EDF EDF.PA was the top gainer on STOXX 600,
up almost 3%, after it said there was no need to close any of
its nuclear reactors for now following the discovery of problems
with weldings.