Stoxx 600 Rises 0.5% as ECB Hike Boosts Banks and Brent Tops $93
Updated
Updated · Bloomberg · Jun 11
Stoxx 600 Rises 0.5% as ECB Hike Boosts Banks and Brent Tops $93
3 articles · Updated · Bloomberg · Jun 11
Summary
The Stoxx Europe 600 closed 0.5% higher, ending a four-day losing streak as energy and bank shares led the rebound.
Brent crude swung higher to above $93 a barrel after President Donald Trump warned the US would hit Iran “VERY HARD TONIGHT,” lifting the energy subindex almost 2% for its biggest daily gain in a month.
Banks added 0.6% after the European Central Bank delivered its first interest-rate hike in three years, giving rate-sensitive lenders an extra push.
The session showed how European equities were driven by two forces at once: geopolitical risk boosting oil-linked stocks and tighter ECB policy supporting financials.