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European stocks rose before a Federal Reserve policy decision, led by gains in SBM Offshore NV and Standard Chartered Plc.

The Stoxx Europe 600 Index added 0.2 percent to 398.24 at 8:43 a.m. in London. It fell the most in a week on Tuesday after disappointing German investor confidence data. The benchmark measure has still surged 16 percent this year amid quantitative-easing measures by the European Central Bank.

Investors will gauge comments by Fed Chair Janet Yellen for whether the central bank will drop a reference to be “patient” with raising rates in the world’s biggest economy. Yellen holds a press conference after European markets close, following the Fed’s rate decision. Economists forecast no change this month.

Weaker-than-forecast U.S. economic data have stoked speculation the Fed may not rush to increase interest rates. Standard & Poor’s 500 Index futures rose 0.2 percent.

U.K. stocks climbed 0.4 percent, before Chancellor of the Exchequer George Osborne presents his budget at 12:30 p.m. in London, the government’s last before a May 7 general election. Osborne has said it will include help for North Sea oil and gas companies.

Among stocks moving on corporate news, SBM Offshore NV jumped 7.9 percent after agreeing to cooperate with Brazilian authorities investigating companies for corrupt contracts with state-run Petroleo Brasileiro SA. SBM said the accord provides a framework for settlement.

Standard Chartered Plc gained 5.8 percent after Barclays Plc upgraded the shares to overweight, similar to buy, saying a new chief executive officer marks a turning point for the lender.

Inditex SA gained 2.4 percent. The world’s largest clothing retailer reported annual profit that met estimates, while sales rose 13 percent at the start of the first quarter.

A gauge of miners posted the worst performance among 19 Stoxx 600 industry groups, with Fresnillo Plc and Rio Tinto Group falling more than 1.2 percent.

Source: Bloomberg

Linh Nhan