European shares climbed, supported by advances in global banks after the U.S. Federal Reserve raised rates overnight. The pan-European STOXX 600 was trading 0.2 percent higher.
The European banking index added 1.5 percent, buoyed by the 2.1 to four percent gain in lenders like Barclays, BNP Paribas, Deutsche Bank and Societe Generale. Italian banks also helped financials by climbing 1.9 percent and were on track for a third consecutive week of advances. Spain’s Grifols jumped six percent and is also the top gainer in the STOXX 600 index. EDF dropped 12 percent following a warning of lower earnings next year.
Mining shares begin to lose ground with the sector index slipping two percent on a stronger dollar after the Fed’s decision. Precious metals miners also received the hardest hit. Shares in Fresnillo, Randgold Resources, Acacia Mining and Centaming fell 5.7 percent to 9.2 percent.
The material has been provided by InstaForex Company – www.instaforex.com