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European markets end lower, but banking stocks rise

European markets saw choppy trade Thursday, although banking stocks maintained strong gains.

The pan-European Stoxx 600 was down 0.59% as trading closed in London, after flipping between mild losses and gains during the morning.

Banking stocks, however, added 1.71% following a Morgan Stanley analyst note upgrading the banking sector. According to Reuters, the eurozone bank index has reached its highest level since June 10.

The U.K.’s FTSE 100 index closed up 0.07% as France’s CAC 40 fell 1.04% and Germany’s DAX dipped 0.55%.

European markets fell on Wednesday as investors reacted to the latest inflation data from the United States, while Wall Street saw modest gains after a massive sell-off in U.S. stocks on Tuesday.

Shares in the Asia-Pacific mildly rose on Thursday after a negative session Wednesday.

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