The Stoxx Europe 600 index closed 1% higher at 239.8. Data showed U.S. weekly jobless claims fell more than expected to 364,000, but that was paired with a downward revision to third-quarter gross domestic product. Shares of Deutsche Bank AG rose 3.2% and ING Groep NV added 4.3%. BNP Paribas SA gained 3.4%.
Paul Kavanagh, partner at Killik & Co., said that markets Thursday appeared to be taking a slightly more positive view on the European Central Bank funding operation.
Yields for 10-year Italian bonds crept higher to 6.79% against 6.33% the prior day, though Spanish 10-year-bond yields were up more modestly at 5.30%. Hungary's BUX benchmark stock index fell 0.8% to 17,462.5 a day after Standard & Poor's cut the country's credit rating to junk status, lowering it to BB-plus from BBB-minus.
Among the major bourses, the French CAC 40 index was up 1.3% at 3,071.8 as heavily weighted energy group Total SA rose 1%. Shares of luxury-goods group LVMH Moet Hennessy Louis Vuitton SA also rose 1%.
In Frankfurt, banks helped boost the German DAX 30 index, which was up 1% at 5,852.2. In addition to Deutsche Bank, shares of Commerzbank AG rose 2.2%. Shares of business-software group SAP AG rose 1.5%, bouncing back from a 6% tumble the prior session in the wake of downbeat earnings from rival Oracle Corp.
Banks and insurers helped the FTSE 100 index rise 1.3% to 5,457, in the last full trading day for London markets before the Christmas break. Among the gainers, shares of Lloyds Banking Group PLC rose 3.7% and Royal Bank of Scotland Group PLC rose 4%. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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