European bank stocks in biggest jump for 12 months

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French banks aren’t the only ones feeling relieved after Emmanuel Macron’s victory in the first round of the French presidential election, with banks across the eurozone enjoying their best day of trading in more than a year.

The eurozone-wide Euro Stoxx Banks Index rose 6.1 per cent in early trading, hitting its highest level since December 2015 and putting it on track for its biggest one-day rise since last April.

Shares in every bank in the index rose, with particularly big gains for Commerzbank and Unicredit, which were up 9.5 per cent and 8.5 per cent respectively. German and Italian lenders were the two best performers on the all-sector Stoxx 600 index, with French banks Société Générale, Credit Agricole and BNP Paribas behind.

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