European stocks climbed to their highest level since 2000, as the Federal Reserve acknowledged a moderation in economic growth, fueling speculation it won’t be in a rush to raise interest rates.
Sixteen of the 19 industry groups on the Stoxx Europe 600 Index advanced, led by energy companies. Royal Dutch Shell Plc rose 1.2 percent, while Premier Oil Plc added 8.1 percent, for the biggest gain on the Stoxx 600.
The Stoxx 600 increased 0.6 percent to 400.98 at 4:30 p.m. in London. Equities climbed yesterday as U.K. shares rallied after a budget presentation and Swedish stocks jumped after a rate cut. The Stoxx 600 has surged 17 percent this year.
The Fed cut its estimate for where the benchmark U.S. interest rate will be by the end of 2015, easing concern that tighter monetary policy would curb