© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2022. REUTERS/Staff
(Reuters) – European shares opened higher on Tuesday, with defensive utilities and real estate sectors leading the advance after more Federal Reserve officials dampened hopes of a policy pivot, while Vodafone (NASDAQ:) tumbled after slashing its full-year forecasts.
The continent-wide index rose 0.1% by 0813 GMT. The utilities index rose 0.9%, leading the sectoral advance, while real estate stocks added 0.4%.
Vodafone shed 4% after cutting its full-year free cash flow forecast and said earnings would come in towards the bottom of its range. European telecoms were down 0.5%.
Fed Vice Chair Lael Brainard said on Monday the U.S. central bank will likely soon slow its rates hikes, but emphasized that “we have additional work to do,” taking a similar tone to Fed governor Christopher Waller over the weekend.
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