European shares are heading for a weekly gain

The healthcare sector helped European shares on Thursday recovered from a session that saw their worst performance in a month, even as investors remained wary of the Fed’s tightening minutes and Washington’s new sanctions against Russia.

The pan-European Stoxx 600 index rose 0.5%, after losing 1.5% in the previous session.

The healthcare sector jumped 1.4 percent to an unprecedented level.

However, the decline in the shares of basic materials and oil companies affected the performance of the FTSE 100 index in London, on which commodity stocks weigh heavily, to be the worst performer in the region.

Shell shares fell 1.2 percent after it said it would write off up to $5 billion in the first quarter as a result of its decision to exit Russia, higher than previously disclosed.

On the other hand, stock markets in Asia and the United States were affected after the minutes of the Federal Reserve’s meeting in March showed that its officials last month “generally agreed” to reduce the central bank’s holdings by up to $95 billion each month as another tool in the fight against rising inflation.

Investors are now awaiting the minutes of the European Central Bank’s meeting scheduled for release later on Thursday.