European stocks rose today, as investors awaited more US bank earnings reports to gauge the health of the sector, and sentiment was boosted by an expected stronger economic recovery in China.
And the pan-European Stoxx 600 index rose 0.2% after starting the week to retreat from its highest level in a year, ending a five-day gain.
Banking stocks rose 0.8%, recovering from the sector’s losses recorded yesterday.
And the Chinese economy recorded a growth of 4.5 percent on an annual basis for the first quarter, exceeding the expectations of most economists.
Later today, the markets are awaiting the release of the results of Goldman Sachs and Bank of America, while the results of Morgan Stanley are scheduled to be issued tomorrow, Wednesday.
UBS Bank rose 1.1 percent as the Swiss bank made adjustments to its $6 billion share buyback program following its takeover of Credit Suisse.
EasyJet shares also rose 3 percent after the company announced expectations that its profits for the year as a whole would exceed market expectations.
