The European stock market recorded its biggest increase since the beginning of July. The Fed's interest rate hike convinced investors of its determination to fight inflation, while the Bank of England kept interest rates unchanged as expected. The Stoxx Europe 600 Index closed up 0.9%, and the US 10-year Treasury yield fell 8 basis points to 4.94%. After the Bank of England announced its interest rate decision, the FTSE 250 Index rose 1%, and the UK Treasury bond also rose. The basic resources and automotive sector led the way, while the chemical and personal care products sector saw the biggest decline. Raiffeisen Bank International AG fell 5.4% after Grizzly Research LLC said it was shorting the stock, saying the survey showed that the bank had a risk exposure to trading Russian goods subject to import and export restrictions. German industrial services provider Bilfinger SE fell 21% after the company lowered its full-year sales forecast.

The European stock market recorded its biggest increase since the beginning of July. The Fed's interest rate hike convinced investors of its determination to fight inflation, while the Bank of England kept interest rates unchanged as expected. The Stoxx Europe 600 Index closed up 0.9%, and the US 10-year Treasury yield fell 8 basis points to 4.94%. After the Bank of England announced its interest rate decision, the FTSE 250 Index rose 1%, and the UK Treasury bond also rose. The basic resources and automotive sector led the way, while the chemical and personal care products sector saw the biggest decline. Raiffeisen Bank International AG fell 5.4% after Grizzly Research LLC said it was shorting the stock, saying the survey showed that the bank had a risk exposure to trading Russian goods subject to import and export restrictions. German industrial services provider Bilfinger SE fell 21% after the company lowered its full-year sales forecast.