(Reuters) – European shares climbed on Thursday, led by rate-sensitive real estate and technology stocks, as investors bet on the possibility of an end to the U.S. monetary policy tightening after the Federal Reserve held interest rates steady.
The pan-European STOXX 600 gained 1.2% by 0815 GMT.
Fed Chair Jerome Powell maintained the option of another rate hike if progress on inflation stalls, but was wary that a rise in market-based interest rates may begin to weigh on the economy.
The real-estate sector gained 2.7% with Finnish residential real estate group Kojamo advancing 7.6% following third-quarter results.
The technology sector rose 2.3%, with Just Eat Takeaway.com, Europe’s biggest online meal delivery company, gaining 7% on U.S. peer DoorDash’s strong fourth-quarter core profit forecast.
Swiss staffing company Adecco Group was the top STOXX 600 gainer with a 10.2% increase after reporting a better-than-expected third-quarter net profit.
Shell gained 1.4% following in-line third-quarter earnings of $6.2 billion.
Novo Nordisk rose 2.1% on record sales and operating profits for the third quarter, but flagged continued restrictions on supplies of its hugely popular Wegovy weight-loss drug.
(Reporting by Ankika Biswas in Bengaluru; Editing by Savio D’Souza)
