LONDON, March 27 (Reuters) - 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)
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