3/27, 9:03 AM (Source: TeleTrader)
more TeleTrader news

Europe jumps at open as banks remain in focus

Major European indexes opened with strong gains on Monday as investors continued to watch banks closely amid the recent turmoil in the sector. Before the bell, the US Federal Deposit Insurance Corporation (FDIC) said that First Citizens Bank & Trust Co agreed to acquire Silicon Valley Bank's deposits and loans, while Saudi National Bank Chairman Ammar Abdul Wahed Al-Khudairy, who is troubled lender Credit Suisse's largest shareholder, resigned citing "personal reasons."

The Euro Stoxx 50 rose 0.97% at 9:01 am CET and the CAC 40 jumped 1.31% at 9:00 am CET. BNP Paribas, up 3.72%, led the gains on both indexes.

The DAX rallied 1.30% at 9:03 am CET. The best performer was Deutsche Bank, whose shares soared 6.25%, recovering sharp losses suffered on Friday.

The FTSE 100 climbed 0.96% at 9:00 am CET with BP gaining 2.73%.

The euro was flat against the dollar, selling for 1.07641 at 9:01 am CEt and the pound added 0.15% compared to the greenback to go for 1.22496 at the same time.

Baha Breaking News (BBN) / NP