BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rallied on Tuesday, bund yields turned positive and the euro rose after reports that the European Union is mulling a joint-bond sale to fund energy and defense spending.
The European Union will unveil a plan as soon as this week to jointly issue bonds on a potentially massive scale to finance energy and defense spending as the bloc copes with the fallout from Russia's invasion of Ukraine, the Bloomberg reported.
The benchmark CAC 40 jumped 127 points, or 2.1 percent, to 6,109 after falling 1.3 percent on Monday.
Banks topped the gainers list, with BNP Paribas and Societe Generale both climbing more than 5 percent.
Valneva SE surged 4 percent. The biotech firm said that it has successfully completed the phase III pivotal trial of its single-shot Chikungunya vaccine candidate VLA1553.
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