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Miners, banks lead European markets higher as Fed calms inflation woes

·1 min read

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Feb 25 (Reuters) - European shares rose on Thursday, led by sectors deemed to benefit from a broader economic recovery as the U.S. Federal Reserve signalled it would maintain a loose monetary policy, while Standard Chartered fell as its annual profit slumped.

The British lender lost 2.8% even as it restored its dividend and reaffirmed its long-term profit goals in a show of confidence about its ability to recover from the COVID-19 pandemic.

The wider European banking index, however, added 1.1%, benefiting from higher bond yields, which have risen on bets of a pickup in inflation with an improvement in the global economy.

The pan-European STOXX 600 index was up 0.5% by 0804 GMT, with mining and energy stocks also tracking gains in commodity prices.

All eyes later in the day will be on February consumer confidence data from the euro zone.

In a slew of corporate earnings reports, Anheuser-Busch InBev, the world's largest brewer, tumbled 4.4% even as it reported a higher-than-expected core quarterly profit. (Reporting by Sagarika Jaisinghani in Bengaluru; editing by Uttaresh.V)