European stocks rose as increasing prospects for a Federal Reserve rate hike this month boosted lenders, while robust factory data from China spurred a rebound in mining shares.
The Stoxx Europe 600 Index was up 0.8 percent, poising for its biggest advance in three weeks. All 19 industry groups gained. Shares seen as most sensitive to economic growth, such as banks and miners, lost momentum in February after brisk gains in the final quarter of 2016.
Traders are betting there’s an 80 percent chance of a rate increase at the Fed’s March 15 decision, about double the odds from Friday, after two influential officials from the central bank signaled a greater willingness to tighten monetary policy.
China’s official factory gauge strengthened in February as producer prices rebounded, spurring gains in metal prices. Stoxx 600 miners rose from their lowest level in three weeks.
Health-care stocks underperformed the broader gauge on Wednesday, up just 0.3 percent. U.S. President Donald Trump told a joint session of Congress lawmakers need to bring down “artificially high” drug prices.
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