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March 27 Reuters European stocks climbed on Monday, as a sense of calm returned to markets following a week of turbulence over concerns about banking sector stability after the collapse of Credit Suisse and two U.S. midsized lenders.

The panEuropean STOXX 600 index rose 0.9, with investors drawing comfort from news that First Citizens BancShares Inc would acquire Silicon Valley Bank39;s deposits and loans.

European banks rose 0.9 after shedding 3.8 on Friday, when Deutsche Bank sparked a rout in the sector. Shares of the German lender were up 3.3 after tumbling 8.5 on Friday.

Shares of Swiss bank UBS, which took over Credit Suisse in a rescue deal last week, slipped 0.8 to trade about 15 below its early March highs.

Credit Suisse inched up 0.4 as the Swiss financial regulator, FINMA, said over the weekend that it was considering whether to take disciplinary action against the bank.

Many investors still don39;t want to touch the banking sector for fears there is more distress to come, said Russ Mould, investment director at AJ Bell.

Yet for every bleak situation, there is always someone who sees an opportunity to make money, hence why we39;re seeing a rise in the share price of many European banks today.

European stocks are looking to end the first quarter of the year with gains, buoyed by signs of economic…