European stocks rally on Fed’s status-quo, higher commodities

The European equity markets tracked their Asian peers higher, with markets cheering Fed’s status-quo, as also its cautious approach on moving rates higher.

More so, higher metals and energy prices amid FOMC-induced broad USD weakness triggered extensive buying in the resource, energy and utility sector stocks on the European indices.

Meanwhile, Germany's DAX 30 index rises +1.24% to 10,566, while the UK's FTSE 100 index trades +0.69% higher at 6,882. Among the other indices, the French CAC 40 index rockets +1.15% to 4,460, while the pan-European Euro Stoxx 50 index rallies +1.03% to trade above 3k mark.

Amid a lack of fresh fundamental triggers in the European session today, focus remains on the ECB Draghi’s speech due ahead of the US open for fresh incentives.