The pan-European STOXX 600 index gained 2.22 per cent, its best one-day performance since early November. ― Reuters picFRANKFURT, March 9 ― Shares of banks and automakers lifted European shares yesterday as investors continued to move into economy-linked sectors on hopes of a solid economic rebound from the coronavirus downturn.
Automakers and insurers also rose about 3 per cent, while sectors considered bond-proxies like utilities and personal & household goods were among the laggards. Aero engines-maker Rolls-Royce rose 7.3 per cent to top gains on UK's blue-chip FTSE 100. The European Union and the United States agreed on Friday to suspend tariffs imposed on billions of dollars of imports in a 16-year-old dispute over aircraft subsidies.
On the radar, a European Central Bank meeting later this week will show if policymakers have decided to step up the pace of emergency bond purchases to calm skittish financial markets.