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Oil stocks lift European shares but rate-hike worries limit gains

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Reuters UK

(Reuters) – European shares opened slightly higher on Thursday, helped by energy stocks on the back of gains in oil prices, even though sentiment remained subdued as major central banks signalled continued policy tightening to control rising inflation. The pan-European STOXX 600 index rose 0.2% by 0718 GMT, with energy shares up 0.8% as crude prices climbed on tight supply. [O/R] Overnight, minutes of the U.S. Federal Reserve’s early May policy meeting showed policymakers’ belief in the strength of the economy. However, Fed policy makers agreed to continue hiking rates by 50 basis points for t…

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