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Miners, banks lead European markets higher as Fed calms inflation woes

EconomyFeb 25, 2021 03:30AM ET
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© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European shares rose on Thursday, led by sectors deemed to benefit from a broader economic recovery as the U.S. Federal Reserve signalled it would maintain a loose monetary policy, while Standard Chartered (OTC:SCBFF) fell as its annual profit slumped.

The British lender lost 2.8% even as it restored its dividend and reaffirmed its long-term profit goals in a show of confidence about its ability to recover from the COVID-19 pandemic.

The wider European banking index, however, added 1.1%, benefiting from higher bond yields, which have risen on bets of a pickup in inflation with an improvement in the global economy.

The pan-European STOXX 600 index was up 0.5% by 0804 GMT, with mining and energy stocks also tracking gains in commodity prices. [MET/L] [O/R]

All eyes later in the day will be on February consumer confidence data from the euro zone.

In a slew of corporate earnings reports, Anheuser-Busch InBev, the world's largest brewer, tumbled 4.4% even as it reported a higher-than-expected core quarterly profit.

Miners, banks lead European markets higher as Fed calms inflation woes
 

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Comments (2)
Amine Fourali
Amine Fourali Feb 25, 2021 4:01AM ET
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Markets continue to trust Powell...the guy is lost...poor world
perplexed76 .
perplexed76 . Feb 25, 2021 3:46AM ET
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people have fewer money than a year ago, where inflation should come from. No worry, keep giving money to banksters, mr. powell
Jan Chojnacki
Jan Chojnacki Feb 25, 2021 3:46AM ET
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some have more money
 
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