European Shares Edge Higher After Fed's Hawkish Hike; Eyes Turn To BoE

(RTTNews) - European stocks edged higher on Thursday, extending gains from the previous session as oil prices retreated and a global bond selloff paused following Wednesday's hawkish Fed hike. Brent crude futures fell toward $104 a barrel, extending losses from the previous session as reports of additional Saudi crude cargoes through Oman helped ease supply concerns. U.S. Treasury yields declined in European trade, reflecting markets' increased trust in the Federal Reserve's resolve to bring inflation under control. Attention now shifts to the Bank of England, which is anticipated to maintain interest rates at 3.75 percent later in the day, despite rising inflation in the U.K. The pan-European STOXX 600 rose half a percent to 640.