European bank stocks led a broad rise in markets after a decisive Democratic victory in the US midterm elections helped ease uncertainty that had weighed on equities in recent weeks. Lower bond yields provided an additional boost.
The Stoxx 600 Banks Index gained as much as 4.5%, putting it on course for its strongest session since May. HSBC Holdings and Banco Santander made the largest contributions to the advance.
Lion Finance Group rose 5.9%, while Raiffeisen Bank International climbed 6.4%, the biggest gains among the banking shares highlighted. US bank stocks were also higher in pre-market trading.
Sources: Bloomberg Markets.