European stocks jumped 1 percent in early trading on Thursday, after the Federal Reserve cut interest rates by 50 basis points and indicated the possibility of adopting more monetary easing, raising hopes for an easing of economic pressures.
Market movement
By 0712 GMT, the pan-European STOXX 600 index was up 0.9 percent at 519.15 points, with all sectors rising except telecoms stocks, which fell 0.6 percent.
The US Federal Reserve began its monetary easing cycle on Wednesday with a major cut that brought its benchmark interest rate to a range of 4.75% to 5%.
Federal Reserve Chairman Jerome Powell said the rate cut shows policymakers' commitment to keeping unemployment low, especially after inflation fell.
Investors are now awaiting the Bank of England's interest rate decision due at 1100 GMT, with Britain's FTSE 100 up 0.9 percent ahead of the decision.
Next shares rose 4.4 percent on Thursday as the British clothing retailer headed for an annual profit of nearly 1 billion pounds ($1.3 billion) after raising its outlook for the second time in two months.
British online grocer Ocado Group rose 12.6% after Ocado Retail raised its 2023-24 outlook following a 15.5% rise in revenue.
IG Group shares fell 2.7 percent as the company's stock traded ex-dividend.
