European shares hit nine-month high on upbeat cues from Fed’s Powell

By Ankika Biswas (Reuters) -European shares hit an over nine-month high on Wednesday, lifted by positive cues from U.S. Federal Reserve Chair Jerome Powell’s overnight remarks, while Finnish refiner Neste and Norway’s Equinor steered energy stocks higher on upbeat earnings. The pan-European STOXX 600 was up 0.8%, after hitting its highest level since April 2022 in early trade. Powell’s remarks that 2023 should be a year of “significant decline in inflation” were interpreted as less hawkish than feared, although he acknowledged that Friday’s blockbuster U.S. jobs report showed why the battle ag…

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