European stocks up as investor fears receded after Credit Suisse ‎obtained financial assistance

European stocks rose on Thursday, as troubled Credit Suisse stock rose after receiving financial aid from the Swiss National Bank (central bank), which helped ease some fears of a global banking crisis, although caution prevailed before the European central bank’s interest rate decision.

According to Reuters, the Stoxx 600 index rose 0.9 percent by 0815 GMT. The index has fallen about 3 percent so far this week, as the collapse of the US Silicon Valley bank raised concerns about the global banking sector and led to a decline in bank stocks.

The banking sector index rose 2.3 percent in early trading, after recording its largest daily decline in more than a year in the previous session.

Credit Suisse shares recovered, rising 28 percent, after it said it would borrow up to $54 billion from the Swiss National Bank to boost liquidity and investor confidence.

The bank’s shares plunged 24 percent on Wednesday

All eyes are on the European Central Bank meeting later on Thursday, in the first big test of how policymakers respond to growing concerns about banks.