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Banks rose in European trading on Tuesday, as the rise in bond yields tempts investors back in the sector.
Helped by lenders including Intesa Sanpaolo
ISP,
and BNP Paribas
BNP,
the Stoxx Europe 600
SXXP,
rose 0.6% to 453.64.
Of the major regional indexes, the German DAX
DAX,
gained 0.5%, the French CAC 40
PX1,
increased 0.9% and the U.K. FTSE 100
UKX,
increased 0.6%.
The Stoxx Europe 600 banking index
SX7P,
has climbed 9% over the last six months.
The biggest Stoxx 600 gainer was Greggs
GRG,
which rose 10% as the U.K. bakery chain said its full year outcome will be ahead of previous expectations. Like-for-like sales in its fiscal third quarter, compared to 2019 levels, improved 3.5% despite the company reporting staffing and supply chain issues.
The biggest Stoxx 600 faller was GN Store Nord
GN,
which fell 6% after warning of slower revenue growth than expected in its hearing aid division.
