0919 GMT - Shares in European banks trade higher as a two-week cease-fire agreement between the U.S. and Iran provides relief. The banking subindex of the Stoxx 600 surges 6.1% compared with the wider index's 3.5% gain. "Economically sensitive sectors have struggled since March on fears over higher interest rates and a slowdown in business and consumer activity, so it makes sense that investors now see them as more attractive if there is hope for an end to the conflict," says AJ Bell's Dan Coatsworth. Most names in the sector trade in the green, with Lloyds, Barclays, NatWest and StanChart in the U.K. up 8% while UBS and HSBC rise 5%. In continental Europe, BNP Paribas, Deutsche Bank, UniCredit, Intesa Sanpaolo, Santander and BBVA are up between 6% and 7%. France's Societe Generale is up 10%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

April 08, 2026 05:19 ET (09:19 GMT)

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