European shares end lower with Fed's big rate verdict in focus
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Fed rate decision at 1800 GMT
Italy's Campari drops after unexpected CEO exit
UK inflation holds at 2.2% in Aug
STOXX 600 index down 0.5%
Updated at 1600 GMT
By Shubham Batra and Shashwat Chauhan
Sept 18 (Reuters) -European shares closed lower on Wednesday, as investors refrained from risk-taking ahead of an all-important interest rate decision by the U.S. Federal Reserve that could mark the beginning of a monetary easing cycle in the world's largest economy.
The pan-European STOXX 600 index .STOXX closed 0.5% down, with the food and beverages gauge .SX3P leading losses amongst major sectors, down 1%.
Shares of Italian spirits group Campari CPRI.MI dropped 7.5% after its CEO Matteo Fantacchiotti abruptly quit after only five months in charge, with the company citing personal reasons for his departure.
The heavyweight healthcare sector index .SXDP lost 0.7% as Danish drugmaker Novo Nordisk NOVOb.CO fell 2.4% after a report that its diabetes drug Ozempic is "very likely" one of the next drugs targeted for a price cut in the United States.
All major European bourses ended lower.
Focus remains on the U.S. central bank's expected start of policy easing, with a decision on interest rates due at 1800 GMT. Money markets see a 53% chance of a 50-basis-point reduction, according to CME's FedWatch Tool.
"We expect the FOMC to cut by 25 basis points today. We acknowledge however, that the decision is a very close call and will likely come down to the discussion in the board room," Goldman Sachs economists said in a note.
"We admit that there are some good arguments for a 50 bp cut ... however, we would contend that it is not clear that the Fed actually is or even feels that it is behind the curve."
Meanwhile in Britain, data showed inflation held steady in August but sped up in the services sector which is closely watched by the Bank of England, adding to bets that the central bank will keep interest rates on hold on Thursday.
The blue-chip FTSE 100 index .FTSE ended 0.7% lower, while the pound GBP=D3 strengthened 0.3% against the dollar.
Among other stocks, Germany's BASF BASFn.DE gained 2.4% following a media report that the chemical company plans to prepare its agricultural chemicals business for an initial public offering in the next few years as part of restructuring measures set to be announced this month.
France's Ubisoft Entertainment UBIP.PA jumped 6.6% after BMO Capital Markets raised the rating on the stock to "outperform", saying the shares are too cheap to ignore.
Reporting by Shubham Batra, Lisa Pauline Mattackal and Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips and Emelia Sithole-Matarise
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