European stocks rise after a wave of selling.. and attention is on the central banks

(Archyde.com)
European shares rose on Wednesday with positive data on German market sentiment, while investors watched what central banks would do to tighten monetary policy amid growing concerns regarding slowing economic growth.
The pan-European Stoxx 600 index rose 0.8 percent by 0714 GMT, supported by gains across all sectors. The index had fallen 1.1 percent in the previous session, giving up almost all the gains it made in Monday’s session.
Utility stocks led the gains in Europe. Shares of energy company SSE jumped 4.4% following it announced an increase in annual profit by 23%.
A survey, on Wednesday, predicted that German consumer sentiment would rise in June following falling to a record low in May. But the survey also warned of the impact of inflation in curbing household spending.
Separate data from Germany showed that Europe’s largest economy grew in the first quarter, in line with expectations.
Investors are watching the minutes of the previous meeting of the US Federal Reserve to assess the way policy makers are inclined following sharp comments from the European Central President earlier this week.
Banking stocks, which benefit when interest rates rise, reached a one-month high and gave the Stoxx 600 the biggest boost.