European stock markets open higher on strong bank earnings
Updated
Updated · XTB · May 5
European stock markets open higher on strong bank earnings
12 articles · Updated · XTB · May 5
Italy's ITA40 rose nearly 2%, the Euro Stoxx 50 1.5% and Germany's DAX 1.3%, as UniCredit gained more than 3% after reporting record first-quarter net profit of €3.22bn.
UniCredit lifted its 2026 profit outlook to at least €11bn and formalised a Commerzbank bid, while HSBC fell almost 5.6% after missing estimates and raising provisions by $300m.
Middle East tensions capped sentiment after US and Iran exchanged fire in the Persian Gulf, with Brent crude down about 1.5% after Monday's 6% jump and defensive sectors lagging.
With war and tariffs looming, are European markets ignoring clear signals of a coming crisis?
Can UniCredit's record profits conquer German resistance to its hostile Commerzbank takeover bid?
As the world's oil artery is cut, how will the global economy avoid a catastrophic shock?