Ceasefire agreement between the US and Iran ignites European bank stocks, Société Générale rises 10%

Glonghui April 8 — European bank stocks rose as a two-week truce between the US and Iran brought relief. The banking sub-index of the European Stoxx 600 index surged by 6.1%, while the overall index rose by 3.5%. According to AJ Bell analyst Dan Coatsworth, since March, economically sensitive sectors have struggled due to concerns about rising interest rates and a slowdown in business and consumer activity. Therefore, if the conflict is expected to end, it is logical that investors now see these sectors as more attractive. Most stocks in the sector were up, with a certain UK exchange up 8%, another exchange up 5%, and another exchange rising between 6% and 7%. Another exchange was up by 10%.