European shares up on Fed boost; autos, energy cap gains

(Reuters) - European shares rose on Thursday after the U.S. Federal Reserve cut interest rates, but a slump in auto and energy stocks kept gains in check as investors digested a fresh batch of earnings. The pan-European STOXX 600 index rose 0.3% at 0820GMT led by gains in Milan's FTSE MIB but London's FTSE 100 lagged.The U.S. federal reserve cut interest rates as expected but also signaled there would be no further reductions unless the health of the economy took an unhealthy turn. The..