By Steve Goldstein
Banks rose in European trading on Tuesday, as the rise in bond yields tempts investors back in the sector.
Helped by lenders including Intesa Sanpaolo /zigman2/quotes/206161760/delayed IT:ISP +0.37% and BNP Paribas /zigman2/quotes/206351084/delayed FR:BNP -0.50% , the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.39% rose 0.6% to 453.64.
Of the major regional indexes, the German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.35% gained 0.5%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.39% increased 0.9% and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.40% increased 0.6%.
The Stoxx Europe 600 banking index /zigman2/quotes/210599339/delayed XX:SX7P -0.57% has climbed 9% over the last six months.
The biggest Stoxx 600 gainer was Greggs /zigman2/quotes/205743109/delayed UK:GRG +1.49% , which rose 10% as the U.K. bakery chain said its full year outcome will be ahead of previous expectations. Like-for-like sales in its fiscal third quarter, compared to 2019 levels, improved 3.5% despite the company reporting staffing and supply chain issues.
The biggest Stoxx 600 faller was GN Store Nord /zigman2/quotes/202894664/delayed DK:GN -0.11% , which fell 6% after warning of slower revenue growth than expected in its hearing aid division.