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By Namitha Jagadeesh and Sofia Horta e Costa

December 17, 2015 at 8:07 AM UTC

Updated on

December 17, 2015 at 5:15 PM UTC

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Exporters and financial companies led a rally in European stocks after the Federal Reserve fulfilled investor expectations by raising rates for the first time in almost a decade.

Investec Plc and Man Group Plc rose at least 3.6 percent, while carmakers Volkswagen AG and Daimler AG advanced 3.3 percent or more. Germany’s DAX Index was among the best performers in western Europe, up 2.6 percent.