European banks up 5% as Iran hopes ease growth worries

ING Groep NV

06/05/2026 11:59

** Banks stocks lead sharp gains across Europe as reports the U.S. and Iran are closing in on an deal to end the war in push oil prices down sharply, easing concerns over global growth

** The STOXX Europe 600 Banks .SX7P index is up around 5%, outperforming a 2.6% rise in the wider STOXX 600 .STOXX index

** Barclays BARC.L led gains in the sector, up 7.3%

** Top gainers include Societe Generale SOGN.PA, Standard Chartered STAN.L, BNP Paribas BNPP.PA, UniCredit CRDI.MI, Banco Santander SAN.MC, ING Groep INGA.AS, all up over 6%

** Germany's Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE rise over 4%, while UBS UBSG.S is up 3.9%

** Today's surge brings the STOXX Banks into positive territory YTD, up over 4%

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))