European equities join Wall Street rally following Fed's dovish comments

LONDON (Reuters) – European stocks joined the rally overnight after a night on Wall Street after Federal Reserve Chairman Jerome Powell took some optimistic steps to boost investors' sense of urgency. the stock markets, despite uncertainties about the escalation of the US-China trade conflict.

The pan-European STOXX 600 benchmark was up 0.6% at 0940, with all major stock exchanges and most sectors trading comfortably in positive territory.

Traders believe that rapidly rising interest rates are hurting the US economy and that the stock market is down after Powell said the key rate was just the limit of estimates of a level that would slows down or stimulates a healthy economy.

"If you were looking for a trigger for a rise in stocks in December, we got it last night from the Federal Reserve," wrote Neil Wilson, chief markets analyst for Markets.com.

The optimism found comes after February and October sales prompted market analysts to question the sustainability of the longest bull market in recent history.

A Reuters poll released on Thursday, however, shows that the majority of analysts believe that the upward trend is not over yet with over 40% of strategists claiming that the current race is still over a year.

Technology stocks and cyclicals, which were among the hardest hit at the recent sale, were the main indexes rising across the continent on Thursday morning.

German Bank (DBKGn.DE) made a sudden 4% drop after the morning's outing, about 170 criminal police officers, prosecutors and tax inspectors searched six of its offices in Frankfurt and surrounding areas following allegations of money laundering d & # 39; money.

Elsewhere in the banking sector, UK banks have changed slightly from HSBC (HSBA.L), down 0.3% from Lloyds (LLOY.L) up 1%, after the seven lenders passed the Bank of England stress tests this year.

Actions in the Swedish manufacturer Elekta radiotherapy equipment (EKTAb.ST) recorded one of the worst performances, down 7.7% after announcing an unexpected decline in operating income for a second consecutive quarter.

Real Estate .SX86P was one of the few areas in the red. The British Intu (INTUP.L) fell 36% after Vice President John Whittaker abandoned his plan to buy the British shopping center group. This concern revived the prospects of the troubled sector and its rival Hammerson of Intu (HMSO.L) dropped by 6.5%.

Chart: Reuters poll – When will the bull of equity come to an end? tmsnrt.rs/2RohQfC