Banks keep European shares afloat

Published by
Reuters UK

By Shreyashi Sanyal (Reuters) -European shares edged higher on Tuesday, boosted by banks, while expectations of another large interest rate hike by the U.S. Federal Reserve kept risk-taking bets in check. The pan-European STOXX 600 index added 0.1%, after a soft start to the week, with banks climbing 1.6% by 0759 GMT as lenders tend to benefit from a high interest rate environment. The U.S. central bank will likely deliver its third straight super-sized 75 basis point interest rate hike on Wednesday, toughening its stance on persistent inflation. Swedish stocks fell 0.5% after the Riksbank hik…

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