Business & Finance
European Bank Stocks Bounce Back as Midterms Ease Uncertainty
Key Points
European Bank Stocks Bounce Back as Midterms Ease Uncertainty Bank stocks led European markets higher as a landslide victory for Democrats in the US midterm elections removed some of the uncertainty that has weighed on stocks in recent weeks, while lower bond yields also provided a boost. The Stoxx 600 Banks Index rose as much as 4.5%, on track for its strongest day since May. Heavyweights HSBC Holdings Plc and Banco Santander SA contributed the most to the move, while Lion Finance Group Plc...
European Bank Stocks Bounce Back as Midterms Ease Uncertainty
Bank stocks led European markets higher as a landslide victory for Democrats in the US midterm elections removed some of the uncertainty that has weighed on stocks in recent weeks, while lower bond yields also provided a boost.
The Stoxx 600 Banks Index rose as much as 4.5%, on track for its strongest day since May. Heavyweights HSBC Holdings Plc and Banco Santander SA contributed the most to the move, while Lion Finance Group Plc and Raiffeisen Bank International saw the biggest gains, surging 5.9% and 6.4%, respectively. Banking peers in the US were also higher in pre-market trading.