European banks continue their strong growth in the stock markets, showing the best results since 1997. The sector has been growing for nine consecutive weeks, informs Bloomberg.
Despite the decline in interest rates, banks confirmed the sustainability of their business. Economic stability and large-scale share buyback programs are contributing to further growth.
The financial sector entered the reporting season with high expectations after a long period of growth that began in late 2020. Since then, the Stoxx 600 Banks index has more than tripled.
We will remind you that the European stock market started the week by renewing record levels. Shares in European defense companies also rose sharply as investors expect governments to increase spending on security amid rising threats on the continent.
