European markets close higher as investors digest earnings, dovish Fed comments

Key Points
  • Thursday's European trading session was guided by another bumper day for corporate earnings, with Credit Suisse, Royal Dutch Shell and Volkswagen and among the names reporting their results.
  • Fed Chairman Jerome Powell cautioned that the U.S. economy still has some way to go before the central bank would look to tighten its accommodative monetary policy stance.

LONDON — European stocks closed higher on Thursday as investors digested a fresh round of major corporate earnings and the U.S. Federal Reserve's reiteration of its dovish policy stance.

European markets

The pan-European Stoxx 600 provisionally closed up about 0.5%, with basic resources and autos shares leading the gains, climbing 2.4% and 2% respectively.

Shares in Asia-Pacific broadly advanced overnight as Hong Kong's Hang Seng index continued to rebound sharply from a two-day slump earlier in the week.

U.S. stocks moved higher after the Fed left interest rates and asset purchases unchanged. Fed Chairman Jerome Powell cautioned in a press conference Wednesday that although the economy has made progress, it still has some way to go before the cent