Commodity stocks outperform as European shares rise
LONDON, March 17 (Reuters) - European shares rose on Thursday, as the U.S. Federal Reserve's indication that it would reduce the number of interest rate hikes expected for this year buoyed world stock markets.
The shares of top mining and energy companies were among the best performers, as the Fed's latest update weakened the U.S. dollar on currency markets, thereby making commodities less expensive for consumers paying with other currencies.
The pan-European FTSEurofirst 300 index rose 0.4 percent. Britain's FTSE climbed 0.7 percent, while Germany's DAX advanced 0.6 percent.
The Fed held interest rates steady on Wednesday and indicated that moderate U.S. economic growth and "strong job gains" would allow it to tighten policy this year, with fresh projections indicating that policymakers expected two quarter-point hikes by the year's end, half the number seen in December.
(Reporting by Sudip Kar-Gupta)
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