European shares rise as investors cheer Credit Suisse securing lifeline, ECB in focus

Published by
Reuters UK

(Reuters) – European shares rose on Thursday, as beleaguered lender Credit Suisse rallied after a lifeline from the Swiss National Bank allayed some fears of a global banking crisis, although caution prevailed ahead of a European Central Bank rate decision. The STOXX 600 gained 0.9% by 0815 GMT. It has fallen nearly 3% so far this week as the collapse of U.S. lender Silicon Valley Bank last week raised concerns about stress in the global banking sector and sent banking shares into a tailspin. The banks sector index added 2.3% in early trading, after logging its steepest one-day drop in more th…

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