Europe recovers from BOJ to close mixed; miners rally – CNBC

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The pan-European STOXX 600 reversed earlier sharp losses, to close 0.2 percent higher provisionally. Sectors however pointed in different directions by the close.

London’s FTSE 100 ended slightly above the flat line while France’s CAC fell just below the flat line at the end of Europe’s session. Germany’s DAX however popped 0.2 percent.

On Thursday, global markets were digesting the latest decision and comments from the Fed after the central bank decided to opt for caution and hold rates steady amid an apparent slowdown in the U.S. economy. The central bank left the door open for a hike in June, however.

“Economic activity appears to have slowed,” the Federal Open Market Committee said in a statement released after its two-day meeting this week. “Growth in household spending has moderated, although households’ real income has risen at a solid rate and consumer sentiment remains high.”

The statement reiterated the official stance that inflation will rise toward 2 percent—the central bank’s target—”over the medium term” but is being held back by “the transitory effects of declines in energy and import prices.” On the data front, U.S. gross domestic product (GDP) rose 0.5 percent in the first quarter on an annualized basis.

Meanwhile, the Bank of Japan’s (BOJ) decision to keep monetary policy steady caused hefty swings in Japanese markets Thursday, with the yen rallying sharply and stocks tumbling to close lower. The BOJ’s move surprised many market players who were widely expecting more stimulus measures from it. The move by the BOJ added slight pressure to U.S., stocks on Thursday, which were mixed to slightly higher around Europe’s close.

Europe recovers from BOJ to close mixed; miners rally – CNBC