LONDON - European bank stocks rose for the first time in nearly a week on Monday, bouncing from last week's declines, after a buyer emerged for large parts of Silicon Valley Bank's deposits and loans, which helped ease some of the anxiety in the sector.
The STOXX banks index rose 2.3% in early trading, after sinking 3.8% on Friday, and largely outperformed the broader stock market, with the pan European STOXX 600 index rising 1.1%.
First Citizens BancShares Shares bought all the loans and deposits of SVB and gave the Federal Deposit Insurance Corp equity appreciation rights in its stock worth as much as $500 million in return, the FDIC said in statement. Frankfurt-listed shares in First Citizens rose 9.4%.
The Frankfurt-listed shares of several mid-tier U.S. lenders also rose sharply on Monday.
(Reporting by Joice Alves; Editing by Amanda Cooper)