European Stocks Rebound From Three-Day Decline as Banks Advance

Euro currency
  • European Stocks Rebound From Three-Day Decline as Banks Advance

Gains in lenders boosted European stocks for the first time in four days, with earnings reports also moving some shares.

The Stoxx Europe 600 Index rose 0.3 percent at 8:32 a.m. in London. Informa Plc and Segro Plc lifted media and real estate shares respectively, after reporting positive results. The Stoxx 600 and Germany’s DAX Index fell in recent sessions as allegations of collusion hit carmakers. The DAX was little changed on Tuesday.

  • The Stoxx 600 is entering its busiest period of the earnings season so far, with about a third of its members reporting this week. Releases are due from Daimler AG, GlaxoSmithKline Plc and Deutsche Bank AG.
  • Lenders were the biggest contributors to gains on Tuesday, with Banco Sabadell SA up 2 percent. Swiss Re AG agreed to pay about 684 million euros ($796 million) for a portfolio of retail life policies held by a venture partly owned by Sabadell.
  • Anglo American Plc rose 4.8 percent after its South African iron ore unit reinstated its dividend.
  • A substantial degree of accommodative monetary policy is still needed to help ease inflation pressures, European Central Bank Executive Board member Yves Mersch said at an event Tuesday.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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