European bourses rise as Fed stands pat; EDF down 3%; Maersk rallies

European stocks were higher in morning trade on Thursday as global investors reacted to the decision by the U.S. Federal Reserve to hold interest rates steady.

The pan-European Euro Stoxx 600 Index was higher with all sectors in positive territory and all major bourses posting gains. European markets followed the positive lead set in Asia and the U.S. where stocks rallied after the Federal Reserve kept interest rates unchanged on Wednesday, despite hinting of a hike later in the year.

In its post-meeting statement, the Federal Open Market Committee expressed confidence in economic growth, but not enough to make a move this month. “The committee judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives,” the Fed’s policymaking committee said in a statement.

A weaker dollar after the policy decision helped the prices of metals, basic resources and all sorts of commodities, which in turn spurred buying in equities with exposure to these sectors.

EDF shares fall; Moller-Maersk rises

In other news, one person was shot and critically wounded Wednesday as demonstrators clashed for a second night with police in Charlotte, N.C., NBC News reported, a day after the police killed a man whose family claimed he was simply reading a book.

In business news, French nuclear power utility EDF said on Wednesday it was lowering its 2016 earnings expectations; shares were down 3 percent in morning trade Thursday.

In other stocks news, shipping giant Moller-Maersk saw shares rise 2.6 percent after it announced extensive reorganization plans.

Banking stocks were also in favor, following on from a major policy overhaul by the Bank of Japan this week.

Source: CNBC