European shares rebound as Italy eases stance on bank levy By Reuters

<p> <br />
</p>
<div>
<div>
<img decoding="async" alt="European shares rebound as Italy eases stance on bank levy" id="carouselImage" src="https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ7807M_L.jpg" style="visibility:hidden" /><br />
<span>© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 8, 2023. REUTERS/Staff/File Photo</span><br />
<i class="imgGrad"/>
</div>
<p>(Reuters) – European shares rose on Wednesday, with Italian lenders rebounding from sharp losses in the previous session after the government eased its stance on a new banking levy.</p>
<p>By 0705 GMT, the pan-European added 1.0% to touch a one-week high.</p>
<p>Euro zone banks gained 1.4% after a 3.5% slump a day earlier, as Italy set a cap at 0.1% of total bank assets for the new tax, after a surprise announcement of a 40% windfall tax on lenders sparked a sell-off.</p>
<p>Italian lenders such as Intesa Sanpaolo (OTC:), Banco BPM and UniCredit added between 1.7% and 2.5%.</p>
<p>Investors also appeared to shrug off data that showed China’s consumer sector fell into deflation and factory-gate prices extended declines in July, as the world’s second-largest economy struggled to revive demand.</p>
<p>Among individual stocks, Delivery Hero climbed 5.8% after the German online takeaway food company raised its full-year revenue outlook.</p>
<p>Novo Nordisk (NYSE:) inched up 0.5%, extending gains from Tuesday when the Denmark-based drugmaker’s shares hit a record high after it said its obesity drug reduced the risk of heart disease. </p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/european-shares-rebound-as-italy-eases-stance-on-bank-levy-3149131">Source link </a></p><p>The post <a href="https://forextraderhub.com/european-shares-rebound-as-italy-eases-stance-on-bank-levy-by-reuters.html">European shares rebound as Italy eases stance on bank levy By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>