Economic news

European shares jump to 3-week peak after Powell hearing

European shares leaped to their top in near three weeks on Wednesday, supported by a rally in the eurozone's bank shares after U.S. Federal Reserve Chairman-nominee Jerome Powell said he intends to ease regulations for the financial sector.

The Stoxx Europe 600 index soared 0.7% to 389.49, its highest level since Nov. 9.

Germany’s DAX 30 index surged 0.7% to 13,151.75, while France’s CAC 40 index PX1, ticked up to 5,419.86.

The U.K.’s FTSE 100 index dropped 0.5% to 7,425.13 as the pound rose to a two-month peak at $1.3404.

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