European stocks higher echoing an upbeat mood in Asian markets, Swiss bank UBS climbs on naming Ermotti as new CEO
London +0.74%. UK February mortgage approvals 43.54k vs 40.50k expected
Germany +0.68%. Germany April GfK consumer confidence -29.5 vs -29.2 expected.
France +1.12%. France March consumer confidence 81 vs 81 expected.
The pan-European Stoxx 600 was up 0.65% in morning trade, with banks up. Tech stocks reversed Tuesday’s decline with a gain while the financial services sector was up.
UBS shares rose 2.6% after the bank announced Sergio Ermotti would return to his role as group CEO from April 5, following the recent acquisition of Credit Suisse.
Switzerland March Credit Suisse investor sentiment -41.3 vs -12.3 prior.
Coming up in the session: US MBA mortgage applications w.e. 24 March at 1100 GMT.
In the bond market, the yield on 10-year Treasuries was little changed to 3.57%.
Germany’s 10-year yield was up more than two basis points to 2.31%.
Britain’s 10-year yield was up more than one basis point to 3.47%.
ETFs: (EWG), (GF), (EWI), (EWQ), (EWGS), (FGM), (DBGR), (DXGE), (HEWG), (DAX), (FLFR), (FLGR), (FLIY), (FXB), (EWU), (FKU), (EWUS), (HEWU), (FLGB).
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