Europe shares rally as Fed pledges patient approach to rates

PARIS Thu Dec 18, 2014 8:08am GMT

PARIS Dec 18 (Reuters) - European stocks rose early on Thursday, tracking a rally on Wall Street after the U.S. Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward raising interest rates.

At 0804 GMT, the FTSEurofirst 300 index of top European shares was up 1.4 percent at 1,335.46 points.

Fed Chair Janet Yellen told a news conference that "patient" meant the policy-setting Federal Open Market Committee was unlikely to hike rates for "at least a couple of meetings," meaning April of next year at the earliest.

(Reporting by Blaise Robinson; Editing by Francesco Canepa)