European shares led higher by tech, banks as US slowdown fears ease
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Adyen tops profit forecast, shares jump
Admiral surges on forecast-beating profit, special dividend
Orsted books new impairment losses, shares drop
Geberit falls after forecasting flat 2024 sales
STOXX 600 up 1.2%
Updated at 1600 GMT
By Ankika Biswas and Pranav Kashyap
Aug 15 (Reuters) -Technology and bank shares led Europe's benchmark stock index more than 1% higher on Thursday, with risk appetite boosted by strong U.S. retail sales data that eased fears of a slowdown in the world's largest economy.
The pan-European STOXX 600 .STOXX closed at a two-week high, up 1.2% on the day to complete a reversal of the losses posted during the global market turmoil in the first half of August.
All the major regional bourses, including those of Germany .GDAXI, France .FCHI, Italy .FTMIB and Spain .IBEX were also more than 1% higher.
U.S. retail sales rose more than expected in July, keeping investor bets on a smaller than 50-basis-point Federal Reserve interest rate cut intact.
"The numbers should lay to rest - at least for the moment - all of the doom and gloom that was expressed at the beginning of this month," said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.
"The Fed can begin a rate-cutting cycle without the economy entering recession, and history shows this is an extremely positive environment for the stock market."
Rate-sensitive technology shares .SX8P, among the hardest hit during the rout, were Thursday's biggest gainers, up 2.6% with semiconductor players such as ASML Holding ASML.AS and ASM International ASMI.AS leading the way.
The volatility "fear gauge" .V2TX retreated to its lowest level since late July.
Banks .SX7E, retail .SXRP and automobiles .SXAP were also among the top performers, although most sectors gained on the day.
Dutch payments company Adyen ADYEN.AS was the strongest individual performer, jumping 12% to top the STOXX 600 after market share gains helped it beat half-year core profit expectations.
British motor and home insurer Admiral ADML.L climbed 6.5% after posting a forecast-beating first-half profit.
AstraZeneca AZN.L rose nearly 2%, marking a record high for a fourth-straight session, after the U.S. Food and Drug Administration granted its blockbuster cancer drug Imfinzi a priority review for patients with limited-stage small cell lung cancer in the United States.
Renewable energy group Orsted ORSTED.CO was the day's worst Stoxx 600 performer, slumping 7.2% after booking 3.9 billion Danish crowns ($574.4 million) in impairment losses in second quarter.
Swedish games developer Embracer EMBRACb.ST fell more than 7% after a reporting a 50% drop in first-quarter operating profit, and Swiss plumbing materials supplier Geberit GEBN.S lost nearly 2% after disappointing with a forecast for 2024 organic sales similar to those of last year.
($1 = 6.7899 Danish crowns)
Reporting by Pranav Kashyap and Ankika Biswas in Bengaluru; Editing by Subhranshu Sahu and Janane Venkatraman
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