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BREAKING NEWS

Fed signals buoy European shares, InBev jumps

Fed signals buoy European shares, InBev jumps
FILE PHOTO: A trader works at Frankfurt's stock exchange in Frankfurt, Germany, February 6, 2018. REUTERS/Ralph Orlowski -
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RALPH ORLOWSKI(Reuters)
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(Reuters) – A strong oil sector and firming expectations of more monetary easing from the world’s big central banks drove European shares half a percent higher on Friday, ending a volatile week marked by a series of lukewarm corporate earnings.

Budweiser owner Anheuser-Busch InBev <ABI.BR> topped Europe’s main index, up 4.6% after the debt-heavy brewer said it had agreed to sell its Australian operations to Japan’s Asahi <2502.T>.

New York Federal Reserve chief John Williams on Thursday said policymakers could not wait for economic disaster to hit before adding stimulus, cementing expectations of a cut in U.S. interest rates next week and supporting stock markets globally.

The pan-European stocks benchmark <.STOXX>, which hit a 3-week low on Thursday, rose 0.5% by 0705 GMT, tracking overnight gains in Asia and on Wall Street.

The oil and gas sector <.SXEP> rose 0.55% as crude prices gained on the back of the latest signs of tension between the United and States and Iran.

(Reporting by Susan Mathew in Bengaluru; editing by Patrick Graham)

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