Miners, banks lead European markets higher as Fed calms inflation woes

  • Reuters
  • Stock Market News
Miners, banks lead European markets higher as Fed calms inflation woes
Credit: © Reuters.

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Feb 25 (Reuters) - European shares rose on Thursday, led by sectors deemed to benefit from a broader economic recovery as the U.S. Federal Reserve signalled it would maintain a loose monetary policy, while Standard Chartered fell as its annual profit slumped.

The British lender STAN.L lost 2.8% even as it restored its dividend and reaffirmed its long-term profit goals in a show of confidence about its ability to recover from the COVID-19 pandemic. wider European banking index .SX7P , however, added 1.1%, benefiting from higher bond yields, which have risen on bets of a pickup in inflation with an improvement in the global economy.

The pan-European STOXX 600 index .STOXX was up 0.5% by 0804 GMT, with mining .SXKP and energy .SXEP stocks also tracking gains in commodity prices. MET/L O/R

All eyes later in the day will be on February consumer confidence data from the euro zone.

In a slew of corporate earnings reports, Anheuser-Busch InBev ABI.BR , the world's largest brewer, tumbled 4.4% even as it reported a higher-than-expected core quarterly profit.

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