European stocks rose at the end of Wednesday’s trading session, following absorbing Federal Reserve Chairman Jerome Powell’s comments indicating more interest rate hikes.
At the end of the session, the STOXX600 rose less than 0.1% to 460 points.
The German DAX rose by 0.46%, recording 15,631 points, while the British FTSE increased by 0.1%, at 7,929 points, while the French CAC declined 0.2%, recording 7,324 points.
Banking sector shares led the gains in the European Stock Exchange, as they rose by more than 1%, while health care shares led the losses, declining by 0.65%.
Fed Chairman Jerome Powell told Congress on Tuesday that interest rates may reach levels that are higher than previously expected.
Adidas announced a dividend cut from €3.3 in 2021 to €0.7 last year.
And economic data in America showed that the number of new jobs in the private sector increased by 242 thousand in February, a level that exceeded expectations at 205 thousand.
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