European lenders get a positive second - day

On Thursday European lenders got a second-day boost after Donald Trump’s presidential win on speculation his term will lead to increased inflation and an easing of financial rules.

UBS Group AG and Credit Suisse Group AG, which get more than 35 percent of their revenues from the Americas, led the rally that pushed Europe’s stocks to their biggest four-day jump since July. Shares of the biggest Swiss lender headed for their biggest surge since 2012, while Credit Suisse jumped 7.1 percent. A gauge tracking the industry reached its highest level since March.

Trump’s election also boosted commodities as Goldman Sachs Group Inc. said his pledge to revive American infrastructure would lead to gains in metals and gas. That extended gains in European miners, trading at their highest since June 2015. Rio Tinto Group and BHP Billiton Ltd. rose more than 3.3 percent, while Antofagasta Plc headed for its biggest surge since 2009. Fresnillo Plc and Randgold Resources Ltd. fell more than 6 percent as gold was near a oneweek low.

All members of the Stoxx 600 Banks Index climbed, trimming its annual slide to 13 percent from as much as 36 percent, and pushing its valuation to the highest level since January relative to the broader market. The cost of insuring financial companies’ senior debt against default fell by the most in three months, pushing the Markit iTraxx Europe Senior Financial Index of credit-default swaps down four basis points to 93 basis points.

Asian stocks jumped the most in almost nine months to join a global rebound on speculation Donald Trump will pursue business-friendly policies. Japanese shares surged as the yen slumped. The MSCI Asia Pacific Index climbed 3.1 percent to 137.63 as of 4:01 p.m. in Hong Kong, heading for the biggest increase since The 15 February.