European banks rally on hopes of Middle East peace deal

UBS AG

12/06/2026 09:08

** Shares in rate-sensitive European banks rise on hopes that a Middle East peace deal may finally materialise after U.S. President Donald Trump's latest comments
** The STOXX 600 banks index .SX7P rises 2.6% to a one-week high, one of the best performers among sectoral indices on the pan-European STOXX 600 .STOXX
** Among single stocks, Commerzbank CBKG.DE, UBS UBSG.S, Julius Baer BAER.S and Deutsche Bank DBKGn.DE rise between 2% and 3.8%
** Raiffeisen Bank RBIV.VI and Erste Group ERST.VI are up around 2.9%, while Credit Agricole CAGR.PA, UniCredit CRDI.MI and Societe Generale SOGN.PA rise between 2.5% and 4.2%
** Sabadell SABE.MC, BBVA BBVA.MC and Banco Santander SAN.MC rise 2%, 3.4% and 3.7%, respectively
** Standard Chartered STAN.L, ING Groep INGA.AS, HSBC HSBA.L and Barclays BARC.L are up between 2.2% and 3.1%

(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))