To the european stocks rose more than 1% on Tuesday, with the shares of banks in leading the recovery after a series of measures to stabilize the sector, while investors waited for less aggressive movements from the Federal Reserve at its monetary policy meeting this week.
The pan-European STOXX 600 index closed up 1.33% at 446.47 points and extended gains after the index rebounded sharply from intraday losses and ended Monday’s session up nearly 1%. .
The Fed’s policy meeting wraps up on Wednesday, with interest rates futures indicating the US central bank is likely to raise the key rate. fees by 0.25 percentage points after the recent banking crisis.
European banking index jumped 3.8%, with shares in Swiss banks Credit Suisse up 7.3% and UBS gaining 12.1%.
The European banking index is down 12.7% so far in March – the worst sector performance this month – after the collapse of mid-sized U.S. banks Silicon Valley Bank and Signature Bank, as well as troubles at Credit Suisse, raised concerns that a broader banking crisis is in the making.
The performance of European banks will be resilient, albeit divergent, as the economic reset begins, according to a note from S&P Global, with Credit Suisse an outlier.
In London, the Financial Times index advanced 1.79%, to 7,536.22 points.
In Frankfurt, the DAX index rose 1.75% to 15,195.34 points.
In Paris, the CAC-40 index gained 1.42%, at 7,112.91 points.
In Milan, the Ftse/Mib index appreciated by 2.53%, at 26,554.33 points.
In Madrid, the Ibex-35 index registered an increase of 2.45%, to 9,049.40 points.
In Lisbon, the PSI20 index appreciated by 1.76%, to 5,871.07 points.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
