European stocks end higher with monetary policy in focus; Zealand Pharma gains 8%

European stocks moved higher on Thursday, as traders evaluated the latest monetary policy updates from the Bank of England and the Federal Reserve.

The pan-European Stoxx 600

 provisionally closed 0.8% higher, with most sectors and all major regional bourses in positive territory.

On Thursday, the Bank of England held its key interest rate steady at 4% in a move that had been widely anticipated by economists.

The British pound

 lost ground in the wake of policy update, to fall around 0.6% against the U.S. dollar. Meanwhile, U.K. government borrowing costs ticked higher, with the yield on the benchmark 10-year gilt

 adding 4 basis points.

Global markets also assessed the Fed’s decision to cut its benchmark overnight lending rate by 25 basis points on Wednesday.