European shares rise with the support of banks and positive business results

European shares rose on Tuesday after a series of positive business results reports and with bank shares rising, supported by government bond yields reaching new highs in anticipation of faster decisions to raise interest rates.

The pan-European Stoxx 600 index jumped 0.6 percent by 0716 GMT, with the banking sector rising 1.4 percent, topping the gainers.

Wall Street ended Monday’s volatile session higher, as the yield on the benchmark 10-year US Treasury bond reached 3 percent for the first time since December 2018, ahead of this week’s Federal Reserve meeting, when policymakers are expected to announce a 50 percent rate hike. basis point. German bond yields also hit new highs.

And the French bank BNP Paribas advanced 2.4 percent, as it announced a 19.2 percent increase in quarterly net income, supported by a significant increase in trading activities, and maintained its goals for the year 2025.

Shares of energy group BP rose 1.6 percent, as it boosted its share buyback program after net profit rose to its highest level in more than a decade.