1107 GMT - European stocks rally as market sentiment towards banks improves after U.S. banking group First Citizens BancShares agreed to buy much of collapsed U.S. tech-lender Silicon Valley Bank. The Stoxx Europe 600, CAC 40, FTSE 100 and DAX gain about 1%, with Deutsche Bank, Commerzbank and Banco Santander leading banking shares higher. Brent crude increases 1% to $75.33 a barrel. IG futures data show the Dow opening at 32418, versus Friday's higher close of 32237. "European equities have kicked off the week in a positive mood following a rescue deal for SVB from First Citizens Bank," Interactive Investor head of investment Victoria Scholar writes. (philip.waller@wsj.com)
(END) Dow Jones Newswires
March 27, 2023 07:07 ET (11:07 GMT)
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