Posted on Sep 19, 2019
European shares edged higher on Thursday, helped by a rise in banks, after the U.S. Federal Reserve cut interest rates but set a higher bar for further reductions, Reuters reports.
European banks rose 1.1%, the most among the major sectors.
The pan-European STOXX 600 index rose 0.2% with lender-heavy Milan .FTMIB and Madrid .IBEX outperforming.
The FTSE 100 index was 0.1% lower ahead of a Bank of England monetary policy statement at 1100 GMT, where it is expected to stand pat on rates.
Wartsila (WRT1V.HE) was the worst performer on the STOXX 600 on an HSBC price target cut after the Finnish engineering group warned on 2019 profit on Wednesday.
European steel stocks ArcelorMittal, Salzgitter, Voestalpine, SSAB, Outokumpu and Thyssenkrupp declined after United States Steel’s gloomy current-quarter earnings forecast.
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