European stocks rebound as banking jitters ease

European stocks climbed on Monday, as a sense of calm returned to markets following a week of turbulence over concerns about banking sector stability after the collapse of Credit Suisse and two U.S. mid-sized lenders.

The pan-European STOXX 600 index (.STOXX) rose 0.9%, with investors drawing comfort from news that First Citizens BancShares Inc (FCNCA.O) would acquire Silicon Valley Bank’s (SIVB.O) deposits and loans.

European banks (.SX7P) rose 0.9% after shedding 3.8% on Friday, when Deutsche Bank (DBKGn.DE) sparked a rout in the sector. Shares of the German lender were up 3.3% after tumbling 8.5% on Friday.

Fidelity European Trust PLC (LON:FEV) aims to be the cornerstone long-term investment of choice for those seeking European exposure across market cycles.

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