Bank Stocks Boost European Markets
BY ISHAQ SIDDIQI AND ANDREA TRYPHONIDES
European stocks recovered some of the previous session's losses, with banking shares posting strong gains Friday after Lloyds Banking Group said it expects to return to profit this year.
The Stoxx Europe 600 Index rose 0.5% to 262.5. London's FTSE 100 was 0.7% higher at 5679.6, Frankfurt's DAX rose 0.4% to 6034.3 and Paris's CAC-40 gained 0.4% to 3956.0.
The news from Lloyds gave its shares, and the whole banking sector, a lift, particularly as Lloyds disappointed the market with its earnings last month, said Joshua Raymond, a market strategist at City Index.
"A return to profitability would be seen ...
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