European markets rebounded on Monday while Asian stocks were mixed at the start of what could be another rocky week for global markets thanks to lingering uncertainty about the banking sector. Frankfurt rose 1.4 percent at the open, with troubled Deutsche Bank surging 4.5 percent after its shares nosedived on Friday. London and Paris also climbed. In Asia, Hong Kong and Shanghai dipped, while Tokyo, Sydney and Singapore rose following a positive finish on Wall Street last week. The US Federal Deposit Insurance Corporation (FDIC) announced during Asian trade that First Citizens had agreed to buy Silicon Valley Bank, whose collapse this month had sparked fears of a global contagion in the banking sector. Concerns over Deutsche Bank had triggered more worries last week, prompting US President Joe Biden, German Chancellor Olaf Scholz and other European officials to try and calm investors about the health of the banking sector. Scholz assured traders that Deutsche Bank was “very profitable” after its shares plunged on Friday. The German bank returned to financial health last year following a major restructuring after years of problems. Clifford Bennett, chief economist at ACY Securities, said Monday it was unlikely the German government would allow Deutsche Bank to collapse or face restructuring. But it showed “the continuing and growing pressure on the banking system among the major Western economies”, he wrote in a note. “No bank is immune in the current climate. The forces that lead to the crisis so far seen, of higher rates and depositor uncertainty, only continue to grow.” Markets had rallied last week after financial authorities acted to prevent contagion from the collapse of US regional lenders this month. But sentiment soured following decisions by central banks in the United States, Britain and Switzerland to hike interest rates, despite concerns about the impact of the monetary tightening on banks. Amir Anvarzadeh of Asymmetric Advisors said markets would “remain in a state of flux as concerns about the health of the global banking system persist”. At the same time, “the market seems to have come to the view that the latest banking turmoil will do much of the work in taming inflation and chances for easier monetary policy this year have dramatically increased”, he added.