European shares jump after federal reserve maintains stimulus

European shares rose sharply Thursday after the US Federal Reserve stunned markets by delaying a move to wind back its monetary stimulus policies, but Wall Street saw losses after a day of record-setting gains, dpa reported. Europe's benchmark Eurostoxx 600 gained 0.6 per cent to close at 315.05, following strong gains across Asian markets. The increase was even more pronounced on national European bourses, with shares on Frankfurt's main DAX index climbing more than 1 per cent an all-time high of 8,770.1 points. Wall Street could not keep pace falling back from Wednesday's record highs. The Dow Jones Industrial Average slid 0.26 per cent, while the Standard & Poor's 500 Index lost 0.18 per cent. Gold rose on fears that the Fed's decision to keep pumping 85 billion dollars a month into the economy could stoke inflation. Spot gold surged 4.1 per cent to 1,363.77 dollars an ounce following the US central bank's statement on Wednesday - it's biggest one-day gain in 20 months. The euro climbed against the dollar in the wake of the Fed's decision, rising 0.3 per cent to 1.3549 dollars. The Stoxx Asia/Pacific 600 of leading bourses from the region closed up 0.79 per cent at 138.86 points. National bourses reported bigger gains, with Tokyo closing up 1.8 per cent and Hong Kong rising 1.74 per cent.