European shares rose on Thursday, as traders reacted to a busy morning of earnings reports and awaited the European Central Bank’s policy decision after the U.S. Federal Reserve hiked interest rates as expected.
The pan-European STOXX 600 index .STOXX rose 0.4% by 0713 GMT, following a rally in Asian stocks on optimism the U.S. monetary tightening cycle was over after the Fed on Wednesday raised rates by 25 bps to the 5.25%-5.50% range.
The ECB is expected to raise interest rates for the ninth time in a row later on Thursday and keep the door open to further moves. The decision is due at 1215 GMT.
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