European markets up; bank stocks gain on robust earnings

India Infoline News Service | Mumbai | February 09, 2017 15:51 IST

The pan-European Stoxx 600 was 0.3% higher with most sectors trading positive.

European stock markets were positive today led by gains in shares of banks that reported good earnings. Societe Generale rose 3% after the bank reported a better-than-expected net profit for October-December.
   
Commerzbank also beat Oct-Dec profit forecasts. However, the stocks fell 1% as the bank said it needed to take more steps to get back to sustainable growth.

The pan-European Stoxx 600 was 0.3% higher with most sectors trading positive.

Shares in the oil sector also rose tracking firm crude oil prices. Thomas Cook dropped as much as 9.5% after reporting a cautious outlook for 2017 amid the political and economic uncertainty in Europe.

UK’s FTSE 100 increased 6.35 points or 0.09% to 7,195.17, France’s CAC increased 23.73 points or 0.5% to 4,790.33 and Germany’s DAX increased 56.34 points or 0.49% to 11,599.72.
 

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