European shares rise for the second straight session after the Fed's meeting

Economies.com
2016-09-22 10:05AM UTC

European stocks rose during morning trade on Thursday, extending gains for the second straight session, and Germany's DAX index rose to the highest level since 9 August , after a higher investor sentiment after the Federal Reserve meeting resulted in steady interest rates unchanged and pointed to the need for more evidence before raising interest rates in the near future.

 

 

The Dow Jones Stoxx Europe 600 Index rose 1.5 percent by 09:38 GMT, index closed yesterday's session up 0.4 percent, supported by gains in the banking sector and mining companies.

 

 

Germany's DAX index jumped 1.7 percent recording its highest level since 9 August last, to be the big winner among all stock market indices in Europe, supported by gains in the banking sector with a rise of Deutsche Bank shares by 2 percent.

 

 

Most sectors surged on the Dow Jones Stoxx Europe 600 index, and commodities companies heading for the biggest gain in two months, with a rise in shares of Rio Tinto and BHP Billiton group of more than 3 percent, based on the rise of the prices of most commodities priced in the US currency.

 

 

And energy stocks surged with the rise in oil prices for the third day in a row following a drop in crude inventories in the United States to the lowest level since February last.

 

 

Futures for the S & P 500 rose 0.3 percent, and the index closed yesterday's session on Wall Street, up by 1.1 percent, the second daily gain in a row, following the decisions of the the Federal Reserve statement at the conclusion of September meeting.

 

 

The Bank kept on US interest rates in a range between 0.25%: 0.50% unchanged, and stressed the need for more evidence about the economic growth in the country before it raises interest rates in the near future.

 

 

Federal Reserve President Janet Yellen said that the Bank kept interest rates steady at this meeting in order to ensure the sustainability of economic data improvement, and with the far of inflation targets of the bank.

 

 

As for the most important European markets indices euros Stoke index 50 rose 1.6 percent, and France's CAC 40 Index climbed 1.6 percent, and Germany's DAX index rose 1.7 percent , and in London Financial Times 100 index rose by 1.0 percent.

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