LONDON – European shares rose on Thursday, building on the gains they made in the previous session.
pan europe Stokes 600 It added 0.9% in early trading, with oil and gas stocks rising 2.4% to lead the gains with all major sectors and exchanges entering positive territory.
European markets are poised to build on the gains seen on Wednesday, with the pan-European Stokes 600 Close at 1.7%. Technology, media and retail stocks rose more than 3% to lead gains as almost all major sectors and exchanges closed in positive territory.
Investors are digesting the minutes of the latest Federal Reserve meeting, released on Wednesday, in which central bank officials reiterated a tough anti-inflation stance, saying that another 50 or 75 point move would “likely be appropriate” at the July 26-27 meeting.
Federal Reserve officials realized that the “most restrictive stance” in policy It may be appropriate if inflation does not abate, even if it slows the economy, the meeting minutes said.
“Participants recognized that policy constancy could slow the pace of economic growth for some time, but considered that a return of inflation to 2% is critical to maximizing employment on a sustainable basis,” the document said.
Overnight, Asia Pacific Markets Most were higher on Thursday, while US stock futures were flat Thursday morning as investors digested the minutes of the latest Federal Reserve meeting.
The European Central Bank will publish the minutes of its latest meeting on Thursday while the G20 foreign ministers meet in Bali.
On the data front, German industrial production rose less-than-expected in May, expanding 0.2% m/m vs expectations of 0.3%, and down 1.5% y/y.
CNBC’s Jeff Cox contributed to this market report.
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