Tuesday, June 6, 2023

Stock markets and bank shares in Europe operate with profits

Stock markets and bank shares in europe operate with profits

European stock markets and bank securities are trading higher on Monday morning, compared to Friday’s losses, in the market interest in the purchase of SVB’s bank assets in the United States of America.

European stock markets erased some of the losses on Friday, a day marked by fears about the banking sector.

As of 0740 GMT, Paris was up 0.54%, London 0.47%, Frankfurt at 0.64% and Milan 0.67%.

In Madrid, the Ibex-35 followed the trend with an advance of 1.01%.

In Asia, the Tokyo stock market closed higher, rising 0.33%, but Hong Kong fell 1.75% and Shanghai fell 0.44%.

The purchase of “all deposits and loans” of Silicon Valley Bank (SVB), which raised fears in the market a month ago, by First Citizens Bank appears to have been accepted by investors.

Stephen Innes, an analyst at SPI Asset Management, noted the “unusual calm” in the markets on Monday “amid recent turmoil in the financial sector.”

“The deal seems to have been completed expeditiously and this suggests that the banking system is more strategic than feared,” said Sebastian Paris Horvitz, director of research at Banque Postale AM.

Banking sector shares in Europe’s broader Stoxx 600 index were up 0.95% by 0740 GMT.

Deutsche Bank shares rose 3.91%, Commerzbank 3.22%, BNP Paribas shares gained 0.53% and Banco Sabadell 2.13%. Barclays owns a share of 2.37%.

Oil prices rose on Monday. Brent North Sea barrels for May delivery were up 0.79% at $75.58 and US WTI barrels for same-day delivery were up 1.13% at $70.04 around 0735 GMT.

In the foreign exchange market, the euro was stable against the dollar, with a marginal increase of 0.01% to 1.0761 dollars per euro.


World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
Latest news
Related news


Please enter your comment!
Please enter your name here