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European stocks rose on Tuesday as investors sought bargains following two days of declines. <\/p>\n
A retreat in U.S. Treasury yields and gains in U.S. stock futures on expectations of more stimulus measures in China boosted investor sentiment. <\/p>\n
Banks were seeing broad-based gains on expectations that they would benefit from higher interest rates.<\/p>\n
After a number of ECB officials spoke in favor of rate hikes, traders are now pricing in more than a two-thirds chance of a 75-basis-point move at the central bank’s September 8 policy meeting.<\/p>\n
Commerzbank, Deutsche Bank, Credit Agricole, Lloyds Banking Group and HSBC Holdings surged 2-3 percent. <\/p>\n
The pan-European Stoxx 600 index rose 0.6 percent to 425.14 after falling 0.8 percent on Monday. <\/p>\n
The German DAX gained 1.3 percent, France’s CAC 40 index added 0.9 percent and the U.K.’s FTSE 100 was up 0.1 percent. <\/p>\n
Adevinta shares soared 16 percent after the world’s largest classified ads company reported strong Q2 results and confirmed targets for core markets<\/span>. <\/p>\n Norway’s Aker Solutions jumped almost 12 percent after an announcement that it would form a subsea engineering joint venture with Schlumberger.<\/p>\n German energy company Uniper rose nearly 2 percent after saying it had asked more financial help from the German government.<\/p>\n Sanofi gained about 1 percent. The U.S. FDA has granted priority review to the French drug maker and Sweden’s SOBI efanesoctocog alfa (BIVV001) to treat people with hemophilia A.<\/p>\n AstraZeneca fell 2.2 percent in London despite the company receiving approval for its Evusheld COVID-19 treatment in Japan.<\/p>\n Bunzl slumped 5 percent. The distribution and outsourcing firm raised its 2022 group operating margin outlook after posting a rise in earnings for the first-half.<\/p>\n In economic releases, the European Commission said that its economic sentiment indicator declined to 97.6 in August from 98.9 in July, the lowest reading since February 2021.<\/p>\n Eurozone’s final consumer confidence index held at -24.9 in August – matching expectations. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n