Banks and miners help European stocks to end higher

miércoles 21 de septiembre de 2016 12:31 GYT
 

* STOXX Europe 600 up 0.4 pct

* Banking stocks rally

* Miners also in demand (Adds details and quotes, updates prices)

By Kit Rees

LONDON, Sept 21 (Reuters) - European shares hit a one-week high on Wednesday before the outcome of a Fed meeting, with banks rallying after a policy overhaul at the Bank of Japan lifted risky assets globally.

The U.S. Federal Reserve is expected to keep rates unchanged after a two-day policy meeting amid tepid inflation and weak economic data, but could signal an increased likelihood of a hike by the end of the year.

The pan-European STOXX 600 index closed 0.4 percent firmer after rising to 344.90 points earlier in the session, its highest level since Sept. 9, helped by stronger financials.

The European banking index rose 2 percent, the best one-day percentage gain in a month. Spain's Banco Popular jumped 9.1 percent after saying it would cut around 300 bank branches as part of a restructuring plan.

Europe took its cue from Asian markets, which welcomed the Bank of Japan's decision to adopt a target for long-term interest rates. Investors also awaited the U.S. Federal Reserve's decision on interest rates, which were expected to be left unchanged.   Continuación...