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LONDON (MarketWatch) — European stocks rose Thursday, with banks again benefitting from hopes for a more coordinated crisis response from European policy makers, while investors also keenly awaited the latest policy decisions from the European Central Bank and Bank of England.
The Financial Times reported that European regulators are planning a new round of stress tests for banks, which — this time around — would factor in potential losses on sovereign debt. The last round of tests were performed less than three months ago, but did little to calm investors because the tests didn’t consider the possibility of big sovereign losses.
which benefitted from better-than-expected data on the services sector and employment, though the real test for markets on the jobs front will likely come Friday with the monthly nonfarm payrolls report for September.