European Shares Advance As Investors Digest Fed Minutes

(RTTNews) - European stocks opened on a positive note Thursday after the minutes from the recent meeting of the U.S. Federal Reserve minutes contained few surprises.

Following the release of the minutes from the U.S. central bank's Jan 31-Feb 1 policy meeting, Fed funds futures now price in three more quarter-percentage-point rate hikes at upcoming meetings this year.

The pan-European STOXX 600 edged up 0.2 percent to 463.19 after declining 0.3 percent on Wednesday ahead of the publication of FOMC minutes.

The German DAX gained half a percent and France's CAC 40 index inched up 0.3 percent while the U.K.'s FTSE 100 was down 0.4 percent as a result of ex-dividend trades.

ASM International jumped 2.7 percent, BE Semiconductor added 1.5 percent and Aixtron 1.3 percent after U.S. semiconductor designer Nvidia forecast first-quarter revenue above Wall Street estimates.

Healthcare stocks traded lower in London, with AstraZeneca declining 2 percent and GSK falling 1.3 percent on going ex-dividend.

Likewise, lender Barclays dropped 0.8 percent and Standard Chartered fell over 1 percent on going ex-dividend.

Advertising group WPP soared 4.7 percent after it forecast sales above analyst expectations in the coming year.

Défense company BAE Systems fell 2.5 percent despite reporting a rise in underlying profit and sales in FY22.

Engineering firm Rolls-Royce Holdings jumped more than 18 percent after reporting higher profit and forecasting more profit growth in 2023.

Recruiter Hays fell over 1 percent after reporting a fall in half-year profit and flagging rough conditions in its recruitment of permanent roles.

French luxury eyewear maker Essilor Luxottica tumbled 3 percent in Paris.

After reporting a rise in fourth-quarter revenues, the company struck a cautious tone for 2023.

Railway firm Getlink declined 3.7 percent despite turning to profit in FY22 versus a loss in 2021.

Insurer AXA rallied 3.7 percent on share buyback news.

Freenet AG, a telecommunications and web content provider, rose over 2 percent after posting EBITDA growth of 7.0 percent in financial year 2022.

Reinsurer Munich Re plunged 5 percent despite delivering a surprisingly strong annual profit in a difficult year for the industry.

Groupe SEB, a consortium that produces small appliances, jumped 4.7 percent after forecasting an increase in Group operating margin for fiscal 2023.