The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, December 6, 2017. REUTERS/Staff/Remote/File Photo
December 8, 2017
LONDON (Reuters) – European stocks rallied to a week’s high on Friday as Britain and the European Union announced a breakthrough in Brexit negotiations and new global banking regulations were seen as kinder to European banks than feared.
Financials lifted the Stoxx 600 <.STOXX> 0.7 percent by 0818 GMT, with ABN Amro <ABNd.AS>, Danske Bank <DANSKE.CO> and Societe Generale <SOGN.PA> among the top gainers.
Furniture retailer Steinhoff <SNHG.DE> plunged another 33 percent after Moody’s downgraded it to B1 from BAA3 and put it on review for further downgrade.
UK builder Berkeley Group <BKGH.L> was the top European gainer, up 7.6 percent after raised its profit guidance for the next five years.
(Reporting by Georgina Prodhan, editing by Julien Ponthus)
