ROME: European stocks climbed to their highest level since 2000 after the Federal Reserve said data indicated economic growth has moderated, fueling speculation it won’t be in a rush to raise interest rates.
All 19 industry groups on the Stoxx Europe 600 Index advanced, led by miners. BHP Billiton Ltd. added 1.9 percent, and Rio Tinto Group gained 1.3 percent.
The Stoxx Europe 600 Index rose 0.7 percent to 401.46 at 8:47 a.m. in London. Equities climbed yesterday as U.K. shares rallied after a budget presentation and Swedish stocks jumped after a rate cut. The Stoxx 600 has surged 17 percent this year.
A U.S. rate increase in April is unlikely and policy won’t be tightened until the central bank is “reasonably confident” inflation will return to its target and the job market improves further, according to the Fed’s statement. It also dropped an assurance it will be “patient” in raising interest rates. Standard & Poor’s 500 Index futures lost 0.1 percent.
