European Stocks Rally as Banking Sector Fears Ease
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European stocks rallied in late trading on Thursday on easing worries over the health of the financial sector as the US government is trying to orchestrate a rescue of First Republic Bank with the aid of the nation’s biggest banks.
The Stoxx 600 Index was up 1.2% by the close in London, led higher by technology and travel and leisure sectors, while banks climbed 1.1%. France’s CAC 40 index outperformed other regional benchmarks with a 2% advance.