European shares climbed for a second day after the Federal Reserve held off raising borrowing costs.

The Stoxx Europe 600 Index advanced 0.6 per cent in London, poised for its first back-to-back gains in more than two weeks.

While all industry groups increased, commodity and energy producers climbed the most, with oil rising following a drop in U.S. stockpiles. Rio Tinto Group and BHP Billiton Ltd., up more than 3.4 per cent, pushed the sector to its biggest two-day surge in two months.

The Bank of Japan and Fed are helping revive a rebound that was halted this month on concerns about the future of central banks’ largesse. The BOJ on Wednesday refrained from making deeper cuts to negative interest rates, spurring a rally in lenders, while the Fed trimmed its projection for hikes next year to two from three.