A couple of Europe’s biggest banks have just announced better-than-expected second quarter profits.
BNP Paribas in France has seen profits leap by more than 30 percent.
“It supports the wave of favourable sentiment on the banking sector that began several weeks ago with the publication of the stress test results,” said financial analyst Francois Chaulet.
HSBC in Britain added to the good news by announcing profits that more than doubled compared to last year, and reduced exposure to bad debts. Switzerland’s USB and Credit Suisse also beat market expectations with their Q2 results.