Global equities gain as banking sector lifelines boost confidence

Markets are back with a vengeance as eleven major US banks poured $30 billion in deposits to save First Republic Bank, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. European stocks closed higher yesterday, with banking stocks up 1.24%. Credit Suisse's embattled stocks finished the session up 19% after the Swiss National Bank said it would provide a liquidity backstop to the bank. Asia stocks are also rising across the board as Wall Street moved to shore up the banking system in a sign of confidence in the sector.