Tue. Mar 28th, 2023

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European stocks ascend

1 min read

The pan-European Stoxx 600 rises 0.5% in early trade, led by a 1.6% rebound for banks as most sectors and major bourses entered positive territory.

Global markets appear to be stabilizing following market nervousness within the U.S. which overshadowed market sentiment last Friday.

U.S. stock market index futures were mixed in early premarket trading despite the Dow Jones Industrial Average rising to a replacement record on Monday. The moves came amid the continued fallout after a hedge fund was forced to liquidate its position in several media stocks.

Bank stocks also declined on Monday, with Credit Suisse and Nomura posting heavy losses after warning of significant hits to first-quarter results following the hedge fund’s selling.

Japanese financial services firm Nomura continued to post losses in Tuesday trade because the shares declined nearly 3% during trading in Asia-Pacific.

Euro zone economic sentiment data and consumer confidence figures for March are getting to be closely watched on Tuesday, for further clues on how the region’s economic prospects are perceived. There are no major earnings releases Tuesday.

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