European stocks rise as fears of a full-blown banking crisis continue to recede and sentiment is boosted by a record monthly drop in euro zone inflation figures.
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European stocks rise as fears of a banking crisis continue
European stocks rose today, Friday, as fears of a full-blown banking crisis continued to recede, and as sentiment was boosted by a record monthly drop in eurozone inflation figures and a decline in the Federal Reserve’s preferred inflation measure.
The pan-European Stoxx 600 index closed up 0.7%. The index is heading to record gains for the second quarter in a row, but it is on its way to end the month of March, slightly lower, following several eventful weeks following the collapse of two medium-sized US banks and the takeover of Credit Suisse.
The banking index fell 0.4%, with Swedbank falling 4.9%. The sector index lost 14% in March, its worst monthly performance since 2020.
The technology and real estate sectors indices rose by 0.5% and 0.4%, respectively.