European stocks higher as bank crisis fears ebb on Credit Suisse rescue; investors focus on Fed meeting

London +1.20%.

Germany +1.34%.

France +1.42%.

The pan-European Stoxx 600 was up 1.02%, while sectors were a wall of green, with banks leading gains. Financial services were up.

On Monday, European markets fluctuated, with the pan-European Stoxx 600 index lower in the first hours of trade before moving into positive territory. Even banks reversed earlier sharp losses to trade 0.3% higher.

Switzerland February trade balance CHF 3.31 billion vs CHF 5.08 billion prior.

Coming up in the session: Eurozone January construction output at 1000 GMT and Germany March ZEW survey current conditions, expectations/outlook at 1000 GMT.

In the bond market, the yield on 10-year Treasuries was up more than one basis point to 3.49%.

Germany’s 10-year yield was up more than seven basis points to 2.17%.

2-year German bond yields close the gap from yesterday's lower open, up 13 bps today to 2.45%.

Britain’s 10-year yield was up more than two basis points to 3.33%.

ETFs: (EWG), (GF), (EWI), (EWQ), (EWGS), (FGM), (DBGR), (DXGE), (HEWG), (DAX), (FLFR), (FLGR), (FLIY), (FXB), (EWU), (FKU), (EWUS), (HEWU), (FLGB).

More on the Bank Crisis

• UBS Just Got A Monster Bargain - And Investors Can, Too
• Saudi National Bank hit with over $1B loss on Credit Suisse stake
• SVB’s bid window extended amid “substantial interest’ from potential buyers
• Midsize banks press FDIC to insure all deposits over next two year
• Some banks limit trades with Credit Suisse; Swiss lender to assess scenarios