European shares rise

Dhaka,  Monday,   2016-09-19
Published : 19 Sep 2016, 14:33:15

European shares rise after two straight weeks of losses

European shares rise
European shares rose on Monday, marking a slight rebound after two straight weeks of losses, as gains in banking and energy company shares lifted the region's stock markets.

The pan-European STOXX 600 index, which had fallen to a six-week low on Friday, rose 0.7 per cent.

A rise in the shares of heavyweight banking stocks added the most points to European stock markets.

The stocks had slumped on Friday following a threatened $14 billion fine on Deutsche Bank from US authorities.

Royal Bank of Scotland rose 0.8 per cent, as Investec raised its rating on the stock to "hold" from "sell", although Deutsche Bank fell by another 2.0 per cent.

It extended losses following an 8.5 per cent slump in the stock on Sept. 16.

Firmer oil prices also propped up markets, with the STOXX Europe 600 Oil & Gas index advancing 0.8 per cent, according to a news agency report.

-SRS-
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