statements of FED support European stocks

European shares rose to a seven-week high on Thursday as some concerns about the pace of the Federal Reserve’s rate hike dissipated while strong business results for companies, including Shell, supported buying.

And the Federal Reserve (the US central bank) raised the interest rate by 75 basis points, as expected, and reiterated that it prioritizes containing inflation, but indicated that slowing the pace of monetary tightening is “possible at a certain stage.”

The pan-European Stoxx 600 index rose 0.5%. This year, investors feared that the central bank’s efforts to tighten monetary policy at a rapid pace to contain inflation would lead the economy into a recession.

On a day full of corporate results in Europe, the Italian stock index rose 1%, with automaker Stylantis adding 3.7%.

Shell shares rose 0.9 percent.

The biggest supporter of the Stoxx index was Schneider Electric, which rose 4.6 percent.