Economic news

European stocks got trigger from U.S. Federal Reserve

European stocks tracked Wall Street's overnight rally on Thursday after Federal Reserve Chairman Jerome Powell improved investor sentiment, saying the regulator was close to the bottom range of estimates for the neutral rate.

 Photo: Reuters

The pan-European STOXX 600 surged 0.6 percent with all major indexes across region rising.

Shares in Deutsche Bank dropped 4 percent after German prosecutors raided lender's several offices due to suspicions of money laundering.

HSBC slipped 0.3 percent, while Lloyds gained 1 percent, as all major lenders matched Bank of England stress criteria.

Real estate sector led the decline as the UK's Intu tumbled 36 percent after canceling a plan to acquire the British shopping center group.

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