European shares gained on Thursday, buoyed by strong earnings in cyclical sectors such as financials and industrials, while investors assessed the possible impact from escalating tensions in the Middle East and from uncertainty over US interest rates.
The pan-European Stoxx 600 rose 0.8 per cent at close to 649.95, briefly hitting its highest level since July 7th.
Banks were among the biggest boosts to the index, up 2.6 per cent, largely lifted by Spanish lender BBVA’s about 5 per cent gain after its second-quarter net profit rose more than 11 per cent on an annual basis. Spain’s bank-heavy index gained 1.8 per cent, mostly among regional peers.
Dublin
PTSB shares fell by 2 per cent to €2.92 after the lender secured backing from 91.3 per cent of shareholders for its takeover by Austria’s Bawag at an extraordinary general meeting (EGM) on Thursday. Uncertainty remains nevertheless over whether a separate count of minority shareholders will be required to approve the deal after the Government’s majority stake drove the overall result. Some 36 per cent of minority investors voted against the transaction at the egm.
