World Shares up After 1st Republic Aid Spurs Wall Street Rally
BANGKOK—Markets advanced Friday in Europe and Asia, tracking a rally on Wall Street after a group of big banks offered a lifeline to First Republic Bank, the latest U.S. lender in the spotlight for troubles in the banking industry.
Shares rose in Paris, London, Tokyo, and Hong Kong but edged lower in Mumbai. U.S. futures edged higher, while oil prices gained.
The S&P 500 jumped 1.8 percent Thursday, erasing earlier losses following reports that First Republic Bank could get help or sell itself to another bank. Markets have gyrated this week on concerns over the toll on banks from the fastest set of interest rate hikes in decades. The turmoil flared with last week’s collapse of Silicon Valley Bank, the second largest bank failure in U.S. history….