European stocks were largely unchanged as investors held off on making big bets ahead of the Federal Reserve's policy decision.

The Stoxx Europe 600 Index was trading flat. Autos and luxury stocks led the gains, while tech and travel & leisure underperformed. Shell shares slipped after it said it would increase its dividend by 15% and boost natural gas production.

Among other individual movers, Casino Guichard-Perrachon SA jumped after French media reported that billionaire Xavier Niel and two partners have a made a 1 billion-euro ($1.08 billion) offer on a plan to rescue. Logitech International SA slid after it said Chief Executive Officer Bracken Darrell would leave the company.

After sliding last month, European stocks have recovered in June amid prospects of stimulus in China and bets that central banks could signal a pause in the pace of rate hikes. After data on Tuesday showed US inflation slowed in May, all eyes turn to the Fed's policy meeting, where it's expected to keep interest rates unchanged.

Source : Bloomberg