Tech stocks boost European stocks after Fed comments

March 3 (Reuters) – European stock markets opened higher on Friday, driven by rate-sensitive tech stocks, after comments from a U.S. Federal Reserve official on a possible pause in monetary tightening prompted investors to invest in risky assets.

The STOXX 600 index rose 0.5% in early trading and technology stocks rose 1.3%.

Investor sentiment improved overnight after Atlanta Fed Chairman Raphael Bostic called for “slow and steady” rate hikes and a mid to late-term pause. ‘summer.

Miners rose 1.3% as the prospect of reopening China to support demand was a recurring theme for much of the week, after the country reported data indicating improving economic conditions.

Lufthansa shares rose 4.4% after the German carrier posted a “clearly positive result” in 2022, supported by a surge in demand for air travel.

(Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips, Editing in Spanish by José Muñoz at the Gdańsk newsroom)