Analysts have lambasted Europe's stress tests for being too soft, with one research house arguing that Spanish lenders will need as much as €20bn ($25.8bn) more in additional capital than the amount estimated last week; while others lamented a lack of disclosure from Germany's banks.

Banks stocks across Europe broadly rose on Monday morning, following the release of the stress tests on Friday evening, with UK banks among the strongest risers. Shares in Barclays rose more than 2% and Royal Bank of Scotland gained 1.7%.