Bank shares lead European stocks to higher midweek close

By Mucahithan Avcioglu

ISTANBUL (AA) - European stocks closed Wednesday with gains, boosted by extended gains in bank shares and an end in sight to the US government shutdown.

The pan-European Stoxx 600 index rose 0.71%, or 4.1 points, to close midweek at 584.23. The banks index surged 1.6%.

Germany's DAX 40 index climbed 1.22% to end at 24,381.46 points, and the UK's FTSE 100 gained 0.12% to end at 9,911.42 points.

France's CAC 40 surged 1.04% to 8,241.24, and Italy's FTSE MIB index added 0.8% to close at 44,792.64 points.

The positive course followed the US Senate's passage of a bill to finance the federal government until January and end the longest government shutdown in American history.

The bill was moved to the House of Representatives after passing 60-40 with support from almost all Republicans and several Democratic senators. The House is expected to vote later Wednesday to end the shutdown.

On the corporate side, Dutch bank ABN Amro saw a 2.6% increase following its positive quarterly profits and announcement that it purchased domestic commercial lender NIBC Bank to bolster its position in its home market.

On the data side, the annual inflation rate in Germany fell to 2.3% in October, down from 2.4% in September.