European stocks climbed as U.K. shares rallied after a budget presentation and Swedish equities jumped after a rate cut.
The Stoxx Europe 600
Index added 0.3 percent to 398.65 at the close of trading, erasing
earlier losses of as much as 0.4 percent. Investors are also awaiting a
Federal Reserve policy decision for cues on the timing of a rate
increase.
The U.K.’s FTSE 100
Index climbed 1.6 percent as Chancellor of the Exchequer George Osborne
raised forecasts on Britain economic growth for 2015 and 2016. The OMX
Stockholm 30 Index jumped 1.7 percent to a record as Sweden’s central
bank cut its key interest rate and expanded a quantitative-easing
program.
Carmakers posted the
worst drop among 19 industry groups, with Bayerische Motoren Werke AG
falling 4.2 percent after forecasting slower earnings growth in 2015.
The gauge of auto companies fell for a second day, after rising to a
record on Monday.
Source : Bloomberg
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