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European stock markets open higher, lower tensions on banks

2023-03-28T08:06:56.581Z


Monday ended on a rise. This opening confirms the renewed confidence of investors.


Nervousness continued to ease on Tuesday in the stock markets, which rose as on the previous day thanks to the easing of tensions around the banking sector.

In Europe, Paris rose by 0.66%, London by 0.42%, Frankfurt by 0.58% and Milan by 0.70% around 07:30 GMT.

In Asia, the Tokyo Stock Exchange gained 0.15% and Hong Kong jumped 1.12% in the latest trade.

On the other hand, Shanghai yielded 0.19%.

Wall Street ended in mixed order on Monday, the Dow Jones and the S&P 500 rose modestly while the Nasdaq lost 0.47%.

Bank stocks, for their part, largely rebounded.

"

Markets are more positive as they hope the banking contagion has been contained

," said Hargreaves Landsdown analyst Susannah Streeter.

Investor anxiety about banks eased with the arrival of a buyer for Silicon Valley Bank (SVB), which went bankrupt in early March.

Read alsoHow the Swiss financial center fell from its pedestal

A healthier banking sector

The rebound in European banking stocks continues on Tuesday with increases of 1.94% for Deutsche Bank and 2.78% for Commerzbank in Frankfurt.

In Paris, BNP Paribas rose by 1.60% and Societe Generale by 1.39%, while in Milan Unicredit took 1.67% and in Madrid Banco Sabadell rose by 2.59%.

Bond yields, which had fallen sharply, are also continuing to rise, a sign that investors are starting to seek riskier investments again.

The rate on Germany's 10-year debt was worth 2.28%, down from 2.22% at Monday's close and 2.12% at Friday's close.

The two-year equivalent stood at 2.58% after rising to 2.38% at the end of the previous day's session.

"

Rate markets are starting to shelve their bets that this banking event will force the Fed to ease monetary policy markedly on fears of an impending recession,

" said Stephen Innes, analyst at SPI Asset Management.

Market operators are gradually returning to their favorite subject: the evolution of monetary policies and the risk of recession they pose to economies.

On this theme, the speeches of the President of the European Central Bank (ECB) Christine Lagarde, as well as the speech of an official of the American Federal Reserve will be scrutinized on Tuesday.

Before the publication at the end of the week of inflation figures in the euro zone and the United States.

Source: lefigaro

All news articles on 2023-03-28

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