European Stocks Head For Another Winning Day, With Banks Leading The Way

By Carla Mozee, MarketWatch

Stoxx 600 set for third benefit in a quarrel

Stocks opposite Europe modernized Tuesday, with bank and commodity shares among those running a market’s benchmark toward a third uninterrupted win.

The Stoxx Europe 600 combined 1% to 338.19, with all sectors relocating higher. Monday’s (http://www.marketwatch.com/story/european-stocks-wade-in-the-red-but-energy-shares-boosted-by-oil-jump-2016-05-16) flighty event finished flat.

Energy and simple element shares found support from a softer U.S. dollar , that tends to assistance prices for metals and oil for holders of other currencies. Oil prices changed closer to $50 a barrel, after gaining on Monday as Goldman Sachs pronounced a tellurian oil marketplace expected shifted into a necessity in May.

Read:Why Libya looks like a biggest hazard to oil’s liberation (http://www.marketwatch.com/story/why-libya-could-be-the-biggest-threat-to-recovering-oil-prices-2016-05-16)

Movers: In a appetite group, shares in Italy’s ENI SpA (ENI.MI) rose 1.7% and those in France’s Total SA (TOT) gained 1.3%.

Among financials, Greece’s Alpha Bank (ALPHA.AT) popped adult 4.1%. That followed a ratings ascent to buy from neutral during UBS. The batch is trade “at no reward to a peers, despite, in a view, aloft operational potency and aloft profitability, and for Alpha “a reward is justified,” pronounced UBS analysts Mate Nemes and Margarita Streltses in a note.

Meanwhile, a International Monetary Fund wants a eurozone to let debt-burdened Greece skip profitable seductiveness (http://www.marketwatch.com/story/imf-wants-greece-off-bailout-loan-hook-until-2040-2016-05-17) or principal on bailout loans until 2040, officials informed with a talks told The Wall Street Journal.

Greece’s Athex Composite tacked on 1.1% to 627.41, with shares of Eurobank Ergasias SA (EUROB.AT) adult 3.9%

Indexes: U.K’s FTSE 100 gained 0.9% to 6,206.16, with Taylor Wimpey PLC (TW.LN) shares adult 6% as a home builder lifted a division payout process (http://www.marketwatch.com/story/taylor-wimpey-raises-dividend-payout-policy-2016-05-17).

Germany’s DAX 30 changed 1% aloft to 10,043.02. Trading was sealed yesterday for a Whit Monday holiday.

France’s CAC 40 rose 1% to 4,355.04, and Italy’s FTSE MIB combined 1.3% to 19,974.12 as bank shares gained. Spain’s IBEX 35 claimed a 1.4% arise to 8,800.00.

The euro was adult 0.1% during $1.325.

 

(END) Dow Jones Newswires

May 17, 2016 05:19 ET (09:19 GMT)

Copyright (c) 2016 Dow Jones Company, Inc.

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