Intesa San Paolo. Photo: AFP, Giussepe Cacace
Intesa San Paolo. Photo: AFP, Giussepe Cacace
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European banks big winners led by Italy

Intesa San Paolo led the Italian indices with a gain of more than 5%. The overall European bank index rose by nearly 3%.

March 1, 2017 9:33 PM (UTC+8)

European banks are the big winners this morning, led by the dodgy Italians. Intesa San Paolo led the Italian indices with a gain of more than 5%. The overall European bank index rose by nearly 3%. Spreads between German Bunds and Italian and French government bonds also narrowed in a sign of increasingly risk-friendliness. There’s no decisive news motivating the move, but the Trump State of the Union address, stronger economic data, and somewhat better readings for Angela Merkel’s CDU in German opinion polls all contributed.

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