Lates News

European bank stocks rose as a two-week ceasefire agreement between the United States and Iran brought relief. The banking sector index of the European Stoxx 600 index soared 6.1%, while the overall index rose by 3.5%. AJ Bell analyst Dan Coatsworth stated that since March, sectors sensitive to economic conditions have been struggling due to concerns about rising interest rates and slowing business and consumer activities. Therefore, if the conflict is expected to end, investors now see these sectors as more attractive, which is logical. Most stocks in this sector were up, with UK's Lloyds Bank, Barclays, NatWest, and Standard Chartered rising by 8%, and UBS and HSBC rising by 5%. French banks, Deutsche Bank, Credit Suisse, Banco Santander, and Spanish banks saw gains ranging from 6% to 7%. Societe Generale in France rose by 10%.