European shares open higher

European shares rose at the open on Tuesday on the back of a rally in banking shares as investors prepared for the release of the results of the US Federal Reserve’s two-day monetary policy meeting.

The pan-European Stoxx 600 index advanced 0.8% after a weak start to the week.

European bank shares rose 1.6 percent as lenders benefited from the high interest rate environment, with most sector indices rising by 0711 GMT.

The US central bank is likely to raise interest rates by 75 basis points on Wednesday for the third time in a row, continuing to tighten monetary policy to combat hyperinflation.