European shares closed higher on Thursday after a series of lukewarm sessions, as investors welcomed the U.S. Federal Reserve's overnight interest rate cut and assessed a policy decision from the Swiss National Bank.
The pan-European STOXX 600 ended 0.5% higher at 581.17 points, after a muted start to the session amid renewed worries about lofty tech valuations following cloud computing giant Oracle's hefty AI spending plans.
Major regional bourses were broadly higher, with France's CAC 40 up 0.8% and London's FTSE 100 up 0.5%.
In the STOXX 600, at least 19 sectors were in the green, with optimism stemming from the Fed's meeting, where it cut rates by 25 basis points. However, the central bank cautioned against further reductions in the near term until there is more clarity on the labour market.
Source: Reuters
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