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12/6/2016, 5:46 PM (Source: TeleTrader)
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Europe closes with gains, banking sector soars

Markets in Europe closed in the green on Tuesday as tensions following the constitutional referendum in Italy eased and investors focused on the upcoming European Central Bank meeting and its interest rate decision later in the week. The largest gains were recorded in the banking sector.

The FTSE 100 increased 0.49%. Royal Bank of Scotland and HSBC led the gains as their shares rallied 5.71% and 4.36%, respectively.

The DAX rose 0.85%. Deutsche Bank soared 7.98%, followed by Commerzbank which surged 6.53%. 

The CAC 40 climbed 1.26%. The best performers were Societe Generale, up 5.76%, BNP Paribas, 5.15% in the green, and Credit Agricole, rising 3.87%.

Italy's FTSE MIB jumped 4.15%. After sharp losses following Sunday's referendum, Italian banks rocketed led by Unicredit which soared 12.81%. UBI Banca, Mediobanca and Banco Popolare and Banca Popolare di Milano all sprung over 9%. 

Breaking the News / NP