European precious metal mining stocks rose sharply as the Federal Reserve's first interest rate cut in four years boosted gold and silver prices. London-listed Fresnillo and Endeavour Mining Company shares rose 3.1% and 2.2% respectively.

FTSE 250-listed Centamin and Hochschild Mining each rose 2.4%. Polish silver mining giant KGHM surged 4.9%.

Joshua Mahoney, chief market analyst at Scope Markets, said precious metals were once again buying as the dollar fell despite a rebound in U.S. 10-year Treasury yields.