Spanish multinational commercial bank Santander and Boeing supplier caused rally on European stock market
Yet, coronavirus epidemic threat persists.
Banco Santander lead the recovery of European shares, when it strengthened in almost 4,5% during Wednesday. Similarly, shares of Swedish financial group SEB increased – in 1%. The growth is caused mainly by publishing 2019 fourth quarter results, which exceeded market expectations.
Moreover, shares of Safran increased in almost 4%. Safran, the French aerospace and defense company, is one of main suppliers to Boeing, American aerospace company. Share increase was present amid surprising announcement of loss in last year. The progress might have been affected by successful testing of new airplane model Boeing 777X.
Major European stock indices registered growth over 1% during the week, while index STOXX 600 was increasing the most. German shares grew in 0,2% and main stocks in London remained unchanged. American optimism could reach European markets in upcoming days. However, coronavirus epidemic threat still remains.