Europe stocks track Wall St rally ahead of Fed

PARIS, Sept 17 Wed Sep 17, 2014 12:38pm IST

PARIS, Sept 17 (Reuters) - European shares rose in early trade on Wednesday, mirroring a rally on Wall Street sparked by a report which shifted investor expectations for the U.S. Federal Reserve's policy statement due later in the day.

At 0704 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,384.99 points, after hitting a two-week low in the previous session.

After early losses in New York on Tuesday, major indexes turned positive, with traders citing a report in the Wall Street Journal as indicating the Fed could be less hawkish than markets have been expecting.

The Fed began its two-day policy meeting on Tuesday, and while it has said it doesn't expect to raise rates until 2015, recent strong economic data has led Fed officials to acknowledge they may need to move sooner than they previously anticipated.

(Reporting by Blaise Robinson; Editing by Francesco Canepa)

 
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