European stocks keep growing the second day
On Tuesday, stocks across Europe kept growing with commodity and bank shares among leaders, thus bringing the market’s benchmark toward the third win.
The Stoxx Europe 600 acquired 1%, trading at 338.19, with all sectors heading north. As for Monday’s volatile session, it ended flat.
Energy as well as basic material stocks found support from a softer greenback, which tends to help prices for oil and metals for holders of other currencies. Crude prices got closer to $50 a barrel, right after gaining on Monday because Goldman Sachs told the world crude market would most probably shift into a deficit already in May.
As for movers,in the energy group, we should mention stocks of Italian ENI SpA, which surged 1.7%, while French Total SA edged up 1.3%.
Among financials, we should point out to Greece’s Alpha Bank with its 4.1% rise. It followed a ratings upgrade to purchase from neutral at UBS.
Moreover, the International Monetary Fund wants the EU to let debt-burdened Greece skip paying interest or principal on its bailout loans until 2040.