European stocks track Wall St gains ahead of Fed

miércoles 17 de septiembre de 2014 04:09 GYT

* FTSEurofirst 300 up 0.5 pct, bounces from 2-week low

* Richemont drops after posting lower sales in China and HK

* French stocks bounce back after PM Valls wins confidence vote

By Blaise Robinson

PARIS, Sept 17 (Reuters) - European shares rose in early trade on Wednesday, mirroring a rally on Wall Street sparked by a report that shifted investor expectations for the U.S. Federal Reserve's policy statement due later in the day.

At 0745 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,384.83 points, after hitting a two-week low in the previous session.

Sentiment on European markets was lifted after U.S. stocks turned positive on Tuesday on a report in the Wall Street Journal, which indicated the Fed could be less hawkish than markets have been expecting, traders said.

The U.S. central bank began its two-day policy meeting on Tuesday, and while it has said it doesn't expect to raise interest rates until 2015, recent strong economic data has led Fed officials to acknowledge they may need to move sooner than they previously anticipated.

"The latest figures on consumer confidence, retail sales and unemployment rate all point towards a change in tone from the Fed," FXCM analyst Vincent Ganne said.   Continuación...