January 29, 2020 / 8:26 AM / 2 months ago

Bank stocks lift European shares

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Jan 29 (Reuters) - European shares gained slightly on Wednesday, helped by bank stocks following strong results from Santander, but mounting concerns about the fast-spreading coronavirus kept a lid on gains.

By 0809 GMT, the pan-European STOXX 600 rose 0.1%, continuing a recovery from a selloff earlier this week.

Spain’s IBEX outperformed regional bourses, lifted by a 2% rise in Santander. The lender posted a higher quarterly net profit, boosted by a solid underlying performance in its main market Brazil and capital gains.

The banks index climbed 0.5%, the most among the main European subsectors.

Shares of Apple Inc suppliers including Infineon Technologies AG, AMS AG and STMicroelectronics NV gained after the iPhone maker beat sales and profit estimates for the holiday shopping quarter. (Reporting by Medha Singh in Bengaluru; Editing by Shounak Dasgupta)

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