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Banks lead European stocks higher

By Steve Goldstein

Banks rose in European trading on Tuesday, as the rise in bond yields tempts investors back in the sector.

Helped by lenders including Intesa Sanpaolo and BNP Paribas , the Stoxx Europe 600 rose 0.6% to 453.64.

Of the major regional indexes, the German DAX gained 0.5%, the French CAC 40 increased 0.9% and the U.K. FTSE 100 increased 0.6%.

The Stoxx Europe 600 banking index has climbed 9% over the last six months.

The biggest Stoxx 600 gainer was Greggs , which rose 10% as the U.K. bakery chain said its full year outcome will be ahead of previous expectations. Like-for-like sales in its fiscal third quarter, compared to 2019 levels, improved 3.5% despite the company reporting staffing and supply chain issues.

The biggest Stoxx 600 faller was GN Store Nord , which fell 6% after warning of slower revenue growth than expected in its hearing aid division.

-Steve Goldstein

 

(END) Dow Jones Newswires

10-05-21 0935ET

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