(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Feb 8 (Reuters) - European shares hit a
more-than-nine-month high on Wednesday as investors drew
positive cues from Federal Reserve Chair Jerome Powell's remarks
overnight, while Linde's and Akzo Nobel's upbeat forecasts led
material and chemical stocks higher.
The pan-European STOXX 600 was up 0.6% at 0818 GMT,
hitting its strongest level since April 2022.
Powell's remarks that 2023 should be a year of "significant
declines in inflation" was interpreted as less hawkish than
feared, although he acknowledged that Friday's blockbuster U.S.
jobs report showed why the battle against inflation will "take
quite a bit of time."
Chemicals topped the gainers among sectors.
German gas giant Linde and Dutch paints maker Akzo
Nobel jumped 2.4% and 6.5%, respectively, after giving
higher 2023 earnings forecasts.
Finnish refiner Neste jumped 11% and was the top
performer on the STOXX 600 on the back of a comparable
fourth-quarter core operating results beat.
Norwegian energy firm Equinor gained 6.1%
following a record $74.9 billion adjusted operating profit for
2022.
Italian state-owned bank Monte dei Paschi di Siena (MPS) rose 1.4% following a much larger-than-expected
quarterly profit.
(Reporting by Ankika Biswas in Bengaluru; Editing by Savio
D'Souza)
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