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

Published 02/25/2021, 04:12 PM
Updated 02/25/2021, 04:20 PM
© Reuters.

© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Feb 25 (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 fell as its annual
profit slumped.
The British lender STAN.L 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 .SX7P , 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 .STOXX was up 0.5% by
0804 GMT, with mining .SXKP and energy .SXEP 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 ABI.BR , the world's largest brewer, tumbled 4.4% even as
it reported a higher-than-expected core quarterly profit.

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