European stock markets record growth, while Athens Stock Exchangeafter Friday’s sell-off sparked by renewed concerns about banking industry led by Deutsche Bank shares. Its shares are up more than 3% today, and on Friday they fell 8.5% after a CDS spike.

An attempt at an upward reaction was also recorded on the Athens Stock Exchange: DG increased by 0.69% to 1028 units, while the banking sector moves with an increase of 0.87%. Of the highly capitalized stocks, Sarantis (+2.64%), Quest Assessments (+1.92%), Titan (+1.74%) recorded the largest gains. Alfa Bank (+1.70%) and Ellactor (+1.66%). On the contrary, only the share of motor oil recorded a slight decrease (-0.09%).

At the same time, the pan-European STOXX 600 index rose 0.69% earlier, the German DAX added 0.64%, the French CAC 40 rose 0.53%, and in London the FTSE 100 recorded an increase of 0.47%.

Optimism after SVB deal

In fact, European bank shares jumped 2.8% earlier after falling 3.8% on Friday and have now cut their gains to less than 1%. Optimism for the banking sector returned after an agreement to purchase all Silicon Valley Bank (SVB) loans and deposits from First Citizens Bank.

Seventeen former SVB branches will open as First Citizen branches. First Citizen is acquiring approximately $72 billion of SVB assets at a $16.5 billion discount. dollars, and the estimated cost of the SVB bankruptcy to the FDIC deposit insurance fund is about $20 billion, the US agency said.

Shares in Swiss bank UBS, which acquired Credit Suisse last week in a bailout deal, fell slightly, with shares expected to be about 15% below their pre-deal levels.

Shares of Credit Suisse rose 0.76%.