Europe Stocks Key Off Asia Gains; Banks Rally

By Amwal Al Ghad English On May 28, 2013

European stock markets opened with solid gains on Tuesday, taking inspiration from Asia, where a weaker yen spurred a rally for exporters. The Stoxx Europe 600 index rose 0.9% to 306.96, adding to a 0.3% advance from Monday.

Banks posted some of the biggest gains, with shares of HSBC Holdings PLC up 1.6% in London, Banco Santander SA rising 1.4% in Madrid and BNP Paribas SA up 1.1% in Paris. Shares of Logitech International SA climbed 1.6%, after Credit Suisse lifted the company to neutral from underperform.

Among country-specific indexes, the U.K.’s FTSE 100 index returned from a long weekend with a 1.2% gain to 6,734.03. France’s CAC 40 index gained 0.6% to 4,020.85 and Germany’s DAX 30 index rose 0.8% to 8,445.83.

Marketwatch