European stocks
climbed to their highest level since 2000, as the Federal Reserve
acknowledged a moderation in economic growth, fueling speculation it
won’t be in a rush to raise interest rates.
Sixteen of the 19
industry groups on the Stoxx Europe 600 Index advanced, led by energy
companies. Royal Dutch Shell Plc rose 1.2 percent, while Premier Oil Plc
added 8.1 percent, for the biggest gain on the Stoxx 600.
The Stoxx 600
increased 0.6 percent to 400.98 at 4:30 p.m. in London. Equities climbed
yesterday as U.K. shares rallied after a budget presentation and
Swedish stocks jumped after a rate cut. The Stoxx 600 has surged 17
percent this year.
The Fed cut its
estimate for where the benchmark U.S. interest rate will be by the end
of 2015, easing concern that tighter monetary policy would curb demand
for riskier assets and sending the dollar soaring.
Source : Bloomberg
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