European shares rally after Fed rate hike, Casino slumps

jueves 17 de diciembre de 2015 13:44 GYT

* Pan-European FTSEurofirst 300 index ends up 1.3 pct

* Cyclicals outperform after Fed's first rate hike in nine years

* Casino slumps after Muddy Waters note

* Miners down as U.S. rate hike lifts dollar (Adds details, closing prices)

By Atul Prakash and Danilo Masoni

LONDON/MILAN, Dec 17 (Reuters) - European shares surged on Thursday as investors took the U.S. Federal Reserve's interest rate rise and the prospect of further tightening as a sign of confidence in the world's biggest economy.

The Fed made clear late on Wednesday that the 25-basis point rate hike was a tentative beginning to a "gradual" tightening cycle.

"With the confirmation of the Fed rate rise due to a strong U.S. economy, investors took cheer as the decision formalises opinion that the U.S. economy is broadly expanding," said Lorne Baring, managing director of B Capital Wealth Management.

The pan-European FTSEurofirst 300 index closed up 1.3 percent after climbing to a one-week high, while Germany's DAX , France's CAC and Britain's FTSE 100 rose between 2.6 and 0.7 percent.   Continuación...