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PHOTO FILE: The DAX index of the German stock price index is presented at the Frankfurt Stock Exchange, Germany on June 4, 2019. REUTERS / Staff
(Reuters) – Increases in bank stocks attributed to Deutsche Bank and HSBC have pushed European stock markets up slightly, while the fall in airline stocks after a warning on German Lufthansa profits has limited progression.
Deutsche, which has been slashing and restructuring for months, gained 2.9% after the Financial Times announced that the German lender was planning to create a "bad bank" that would house or sell badets worth up to 50 billion dollars. euros.
In Asia, Standard Chartered and HSBC rose by around 1%, reflecting rising Asian markets after Carrie Lam, Hong Kong's leader, cut his extradition bill in the middle of a week's hike. manifestations of the Chinese satellite.
The pan-European STOXX 600 index rose 0.06% at 07:12 GMT, while bank stocks rose 0.75%.
Lufthansa plunged 11.5% after the group reduced its earnings outlook for the whole of 2019, due to price competition from its low-cost competitors in Europe.
EasyJet and International Consolidated Airlines (IAG) fell by 3.3% and 2.5%, respectively, and the travel and leisure sector by 0.8%.
Reportage of Amy Caren Daniel in Bengaluru; edited by Patrick Graham
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