European stocks make moderate gains as investors bet on slowing rates

European stocks made moderate gains at the open on Thursday after the Federal Reserve predicted the US economy would go through a “mild recession”.

The region-wide Stoxx 600 rose 0.3 per cent, Germany’s Dax was up 0.2 per cent, France’s Cac 40 added 1 per cent and London’s FTSE 100 was flat.

Traders took heart from minutes from the Federal Open Market Committee March meeting that showed officials predicting a “mild…