Delivery Hero stock jumps 13% as food delivery giant mulls strategy; European shares end mixed

European stocks closed Wednesday’s trading in mixed territory as global investors gear up for the U.S. Federal Reserve’s interest rate decision.

The pan-European Stoxx 600 ended the session flat, with most major indexes showing little sign of movement while regional sectors were mixed.

Delivery Hero stock jumped 13.7% after the company said it was evaluating its strategic options and focused on delivering “financial improvements.” In a letter to shareholders, published after European markets closed on Tuesday, the German food delivery giant said it was considering various strategic changes, including partnerships for select country operations and capital allocation measures.

Global markets are awaiting the outcome of the Fed’s final meeting of the year on Wednesday.

The central bank is widely expected to deliver its third interest rate cut of a quarter percentage point, with Fed Funds futures suggesting an 87.6% chance of a decrease, according to CME’s FedWatch tool.

Sentiment among members of the rate-setting Federal Open Market Committee remains divided, however: Some favor cuts to stave off further labor market weakness, while others believe another cut could worsen inflation.

Investors are looking to gauge members’ sentiment from the post-meeting statement and Chair Jerome Powell’s highly anticipated news conference on Wednesday afternoon.