European stocks rose Wednesday, as investors picked up equities beaten down after last week’s vote in the U.K. to leave the European Union.
The Stoxx Europe 600 rose 1.4% to 321.25, as all sectors advanced, led by telecommunication, oil and gas and financial stocks. The pan-European index was moving toward a second straight session of gains.
But some travel shares dropped following a terrorist attack at Istanbul Ataturk Airport in Turkey that left at least 36 people dead. Travel services company TUI AG fell 3.9%, trading at the bottom of the Stoxx 600. Thomas Cook PLC lost 2%, and British Airways parent International Consolidated Airlines PLC shed 1%.
The benchmark’s rise came after Monday’s jump of 2.6%, a comeback after two sessions of sharp losses. That selloff was prompted by the Brexit vote in the U.K., in which voters supported a withdrawal by the country from the EU.
Bank shares were higher Wednesday after being mauled in the wake of the vote. Spain’s Banco Santander SA claimed a 3.1% rise, Italy’s Banco Popolare Societa Cooperativa SCRL added 4.2%, German lender Deutsche Bank AG picked up 1.4%, and London-based Barclays PLC charged up 3.1%.
Push to talk: EU leaders are meeting in Brussels for the second day of their Brexit summit without British Prime Minister David Cameron. The European Parliament and some EU leaders are pushing for the U.K. to invoke Article 50 of the bloc’s treaty, the first step in the withdrawal process, as quickly as possible. But Cameron, who has announced his resignation, said his successor will launch the negotiations over the terms of exiting the 28-member bloc.
Indexes: Germany’s DAX 30 rose 1% to 9,541.62, and France’s CAC 40 gained 1.4% to 4,147.73. The U.K.’s FTSE 100 added 1.7% to 6,244.56.
Italy’s FTSE MIB was higher by 1.6% to 15,863.09, while Spain’s IBEX 35 tacked on 1.8% at 7,978.70.
The euro fetched $1.1069, little changed from $1.1069 late Tuesday in New York. The pound bought $1.3383, up from $1.3341 late Tuesday.
Source: MarketWatch
