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Bank profits push European stocks up and fall down



SHARJAH, March 24 (Reuters)

Banking gains, led by Deutsche Bank and HSBC, pushed Europe's stock markets slightly on Monday, but shares of the airlines fell after a German profit alert from Lufthansa cushioned gains.

Deutsche Bank rose 2.9 percent after the Financial Times reported that the bank plans to create a bank for bad assets to hold or sell assets worth up to 50 billion euros.

Shares of Standard Chartered and HSBC, which are concentrated in Asia, rose about 1 percent each, tracking gains from Asian markets after Hong Kong's Carrie Lam suspended the extradition law to China after the protests . Week.

The European Stokes 600 index rose 0.06% to 0712 GMT, and bank stocks rose 0.7%.

Lufthansa fell 11.5% after the group reduced its earnings forecast to 2019, citing the preferential prices of rival low-cost airlines in Europe.


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