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European Shares Extend Gains As Bank Worries Ebb
(RTTNews) - European shares rose on Friday to extend gains from the previous session as multi-billion-dollar lifelines for troubled U.S. and European banks helped calm investor fears around potential contagion.
The pan European STOXX 600 rose over 1 percent to 446.24 but was on track to post a second weekly decline.
The index rallied 1.2 percent on Thursday despite the continuation 50 basis points (bps) interest rate hike by the European Central Bank (ECB).
The German DAX was up 0.9 percent, France's CAC 40 index added 0.8 percent and the U.K.'s FTSE 100 was up 1 percent as investors look forward to the FED and BOE meetings next week.
Meanwhile, the euro zone's final consumer inflation figures for February are due later in the day.
Swiss lender Credit Suisse fell about 1 percent in choppy trade, after having rallied 19 percent the previous day.
Diploma, the U.K. supplier of specialized technical products and services, jumped 2.4 percent after raising gross proceeds of GBP235 million through a placing of 9.3 million shares at 2,525 pence each.
Bodycote, a provider of heat treatment and thermal processing services, soared almost 7 percent after reporting a jump in full-year profit and revenue.
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