European shares ascend after major bank moves

European shares ascend after major bank moves

On Thursday, European stocks ascended after the Fed decided to lift interest rates as expected and traders looked ahead to the Bank of England’s monetary policy verdict due later in the trading session.

During European morning trade, the EURO STOXX 50 ascended 0.95%, France’s CAC 40 grew 0.75% and Germany’s DAX 30 acquired 0.99%.

On Wednesday, at the end of its two-day policy gathering the major US bank lifted its interest rates by 25 basis points from 0.75% to 1.00% as expected.

Financial stocks traded mostly higher, as French lenders BNP Paribas as well as Societe Generale soared 1.78% and 2.23% respectively, while Germany’s Commerzbank and Deutsche Bank grew respectively 0.64% and 1.66%.

A for peripheral lenders, Italian Intesa Sanpaolo as well as Unicredit ascended respectively 1.04% and 1.81%, while Spanish banks Banco Santander and BBVA added 1.66% and 1.75%.

Apart from that, Deutsche Lufthansa AG stocks inched up 3.94% after the airline group posted a better-than-expected net revenues for 2016.

In London, FTSE 100 leapt 0.69%, backed by sharp profits in the mining sector.

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