European Markets Surge as Fed's Rate Hike Boosts Investor Confidence

European shares increased on Thursday, buoyed by lower oil prices and stabilization in bond markets following the US Federal Reserve's interest-rate hike. The pan-European STOXX 600 rose by 0.9%, driven by gains in metal mining and automotive sectors. Key developments included changes in energy prices and financial results influencing stock performances.

European stocks climbed on Thursday as dropping oil prices and a halt in the global bond selloff revived investors' risk appetite following the US Federal Reserve's anticipated interest-rate hike.

The pan-European STOXX 600 index rose 0.9% to 642.6 points, with notable advances in metal mining and automotive shares leading the charge.

Oil prices continued to slide amid reports of Saudi Arabia offering additional cargoes, yet Europe's energy sector saw a slight uptick. Meanwhile, investors watched central banks' moves to combat inflation, including the Fed's first rate hike in three years.