U.K. stocks strengthened Thursday as oil and property shares gained in the wake of the British government's annual budget plans. While the oil sector scored wins following the budget outline, some midcap beverage stocks were stung by an unexpected plan to tax sugary drinks.

U.S. stocks advanced Wednesday, with the S&P 500 and Dow reaching 2016 highs, after the Federal Reserve kept its key interest rates unchanged and downgraded its forecast for the number of rate increases to two in 2016 from an earlier projection of four.

Asia stock markets rallied Thursday after the U.S. central bank said it wouldn't raise interest rates as quickly as expected.

Based on MarketWatch materials