Banks' Surge Takes Europe's Stock Rally Into 2nd Day; HSBC Rises
- All industry groups up more than 2%; U.S. closed for holiday
- Automakers surge, and miners are on the verge of a bull market
Trams sit by Credit Suisse Group AG's headquarters in Zurich, Switzerland, on Friday, April 24, 2015. Investors are betting Chief Executive Officer Brady Dougan's successor, Tidjane Thiam, 52, will downsize Switzerland's second-biggest bank more decisively to focus on money-managing businesses when he takes over in June.
Photographer: Alessandro Della Bella/BloombergThe optimism that swept through European equities entered a second day as lenders and carmakers climbed further, while investors bet on additional central-bank stimulus.
The Stoxx Europe 600 Index rose 3 percent, taking its two-day gain to 6 percent. Italian and Greek lenders led a bank rally, while the region’s automakers advanced the most since August, helped by a weakening euro. Miners are close to a 20 percent rebound from their January low.