(Reuters) – European shares rose nearly 1% on Monday, underpinned by strong performances among banks and defence stocks, as investors digested a couple of corporate earnings and assessed sector-specific momentum and macro signals.

The continent-wide STOXX 600 index was up 0.9% at 571.05 points, as of 0750 GMT. Other major regional indexes also traded higher.

European banks rose 1.6%, among the top boosts in the STOXX 600, rebounding from a 2.5% drop on Friday when signs of credit stress at U.S. regional lenders unnerved investors.

The STOXX aerospace & defence index climbed 2.1%, recouping from a sharp fall on Friday when news of a planned summit on the war in Ukraine jolted the sector.

Shares of Swedish military equipment maker Saab were up 3.1% after the company received a Spanish ar

See Full Page