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European equities rally as bank stocks see correction

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock markets across Europe advanced on the back of a relief rally in banking shares.

    At the time of writing, the pan-European Euro Stoxx 50 index was up 1.3%. Germany’s DAX and France’s CAC were up almost 1.4% respectively. UK’s mining heavy FTSE index was up 1.54%.

    Bank stocks rise

    German lender Deutsche Bank advanced 8.4%. Italy’s Unicredit and Intensa Sanpaolo were up 6.7% and 4.3% respectively. Spain’s Banco Santander shares were up 3.5% as well.

    The 5% rally in oil prices is also helping the sentiment and keeping energy and mining shares upbeat.
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