European stocks rose on Thursday, as troubled Credit Suisse bank rose after receiving financial aid from the Swiss National Bank (central bank), which helped ease some fears of a global banking crisis, although caution prevailed ahead of the European Central Bank’s decision on… interest rate.
The Stoxx 600 index was up 0.9 percent by 0815 GMT. The index has fallen about 3 percent so far this week as the collapse of the US bank Silicon Valley raised concerns about the global banking sector and led to a decline in bank stocks.
The banking sector index rose 2.3 percent in early trading, after recording its largest daily decline in more than a year in the previous session.
Credit Suisse shares recovered, rising 28 percent, after saying it would borrow up to $54 billion from the Swiss National Bank to boost liquidity and investor confidence.
Shares of the bank plunged 24 percent on Wednesday.
All eyes are on the European Central Bank meeting later in the day, in the first big test of how policymakers respond to the growing concerns about banks.