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Deutsche Bank’s comeback in the stock market contagious to the entire European banking sector

Date: June 7, 2023 Time: 05:55:09

The threats surrounding Deutsche Bank on the stock market seem to have been left behind. The German entity bounces more than 2.4% at the start of the European markets, up to 18 euros per title and sets the tone for the rest of the floors. 8.5% in the session.

With investors awaiting the upcoming macroeconomic data, including the CPI figure, which will condition the course of monetary policy, European banks are breathing easy at the start of the week. In addition to the aforementioned entity, which leads the sector increases in the Old Continent, the rise of Sydbank (+1.9%), Banco Santander (+1.8%), Commerzbank (+1.7%) and Barclays (+1.5%).

Although green is widespread, Virgin Money (-0.61%), Bankinter (-0.4%), KBC Group (-0.13%) and Italy’s BMP SPA (-0.09) failed to escape the turmoil. %), which shows that optimism is still moderate and the market is hypersensitive to any event. Analysts highlight the fragility of the markets in the face of events that, initially, do not necessarily lead to a bank panic like last Friday, which occurred after Deutsche Bank announced an early redemption of a junior debt issue.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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