You are here

Europe: Shares rebound from 1-week low, banks recover

4-24853132 - 26_07_2012 - forex27.jpg

[LONDON] European shares bounced back from a one-week low on Tuesday, mirroring gains in Asia where stocks rose after Democrat Hillary Clinton was perceived by financial market participants to be the winner of the first US presidential debate late on Monday.

Many investors appear to see Mrs Clinton as the preferred candidate, while few are sure what a Trump presidency might mean for international trade or the domestic economy. A CNN poll of viewers showed 62 per cent thought Mrs Clinton won the debate with 27 per cent for Mr Trump.

Cyclical stocks were in demand, with Europe's main banks index up 0.9 per cent, the top sector gainer, while travel and leisure stocks rose 0.8 per cent.

The pan-European Stoxx 600 index was up 0.5 per cent.

Among the big movers, British lender Close Brothers rose 3.5 per cent following a rise in full-year adjusted operating profit, while heating and plumbing products supplier Wolseley fell 4.5 per cent as tough market conditions forced it to close 80 UK branches and a distribution centre.