European stocks rallied at the start of trade on Wednesday, buoyed by an interview from Ukraine’s president in which he appeared to make major concessions.
The Stoxx Europe 600
SXXP,
rose 2.2% to 424.28, helped by a rally in the beleaguered banking sector.
Gainers included BNP Paribas
BNP,
Adidas
ADS,
and Deutsche Post
DPW,
Adidas set out optimistic guidance for 2022, including a return to growth in China. Deutsche Post announced a new share buyback as it guided for a steady profit excluding the impact of the conflict in Eastern Europe.
Of the major regional indexes, the German DAX
DAX,
surged 3.5%, the French CAC 40
PX1,
surged 3.1% and the U.K. FTSE 100
…
