Europe stocks steady ahead of U.S. Fed call

LONDON (MarketWatch) � European stock markets on Wednesday traded close to the flat line, as investors remained cautious ahead of a keenly watched announcement from the U.S. Federal Reserve and U.S. growth data.

The Stoxx Europe 600 index XX:SXXP �slipped 0.1% to 290.10, taking a breather after rising on Tuesday to the highest closing level since February 2011.

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Shares of Imperial Tobacco Group PLC UK:IMT � ITYBY �were among the biggest decliners in the index, off 3.5%, after the firm issued a profit warning for the first half of the year because of pressure from the European market. See: Imperial Tobacco warns on profit due to Europe

Shares of Hennes & Mauritz AB SE:HMB �HNNMY �gave up 2.3%, as the fashion retailer posted quarterly sales growth below expectations. See: H&M continues expansion despite net profit drop

Roche Holding AG CH:ROG �shed 1%, even as the Swiss drug maker reported a 2% rise in full-year net profit and raised dividends 8%. See: Roche 2012 profit edges up on U.S., EM sales

Reuters Hennes & Mauritz shares drop after the fashion retailer reports a decline in full-year profit.

Investors trained their attention on the U.S. Federal Reserve, due to conclude a two-day policy-setting meeting later in the day.

The central bank was widely expected to maintain its aggressive easing strategy and keep buying bonds to the tune of $85 billion a month. A statement is expected at 7:15 p.m. London time, or 2:15 p.m. U.S. Eastern. See: Fed to press ahead with bond buying

At 1:30 p.m. Eastern time, the Commerce Department will release its estimate for U.S. gross domestic product in the fourth quarter. See: What GDP means to stock trading this week

Among country-specific indexes in Europe, Germany�s DAX 30 index DX:DAX �gained 0.1% to 7,856.03, with Deutsche Bank AG DE:DBK �DB �up 1.9%.

France�s CAC 40 index FR:PX1 �rose 0.1% to 3,788.75, while the U.K.�s FTSE 100 index UK:UKX �was marginally higher around 6,340.31.