European stocks rise, as banks get an ECB wind-down boost

  • Written by MarketWatch
  • Published in Economics

An earlier version of this report misstated the timeframe of an expected interest rate rise by the European Central Bank. The report has been corrected....

image Bank shares shine in Thursday’s trade. European stocks rose Thursday, as bank shares keyed off a global rise in bond yields, after European Central Bank officials indicated they’ll start talking about exiting the central bank’s massive bond-buying program. How markets are performing The Stoxx Europe 600 Index SXXP, +0.13%[1] rose 0.4% to 388.57, with the financial sectors leading all groups higher. Spanish and Italian stocks gained the most. In Madrid, the IBEX 35 IBEX, +0.60%[2]  climbed 1.3% to 9,922.70, and in Milan, the FTSE MIB index I945, +0.07%[3]  picked up 1.2% to 22,055.80. Germany’s DAX 30 index DAX, +0.11%[4]  was up 0.6% to 12,905.15, and France’s CAC 40 index PX1, +0.34%[5] rose 0.7% to 5,495.36. The U.K.’s FTSE 100 UKX, -0.14%[6]  was down 0.1% at 7,717.61, turning lower after a 0.5% rise at the open. A technical glitch delayed the start of trade[7] at the London Stock Exchange by an hour. The euro EURUSD, +0.3822%[8] bought $1.1826, rising from $1.1775 late Wednesday in New York. The shared currency has been pushing higher after ECB officials indicated policy makers will use their June 14 policy meeting to discuss the end of the central bank’s quantitative-easing program[9]. Check out: One big reason to treat the euro rally with caution[10] What’s driving markets Bank stocks were notable gainers, drawing the Stoxx Europe 600 Bank Index FX7, +0.55%[11]  up 1.3%, adding to a rise 0.7% in the prior session. On Wednesday,

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