Mining And Banking Lead The European Markets Higher

European stocks rose on Thursday, led by sectors seen as benefiting from a broader economic recovery as the US Federal Reserve indicated that it would maintain a loose monetary policy, while Standard Chartered shares fell as the bank’s annual earnings fell.

The Bank of England lost 2.8% even after it resumed dividends and confirmed its long-term earnings targets in a sign of confidence in its ability to recover from the Covid-19 pandemic.

But the broader European banking sector index added 1.1%, benefiting from higher bond yields, which increased thanks to bets on rising inflation as the global economy improves.

The pan-European STOXX 600 index rose 0.5%, while mining and energy shares tracked gains in commodity prices.

Later on Thursday, all eyes will be on February’s consumer confidence data from the euro zone.