European markets show high start

European markets show high start

On Monday, European markets started generally higher because market sentiment was still upbeat and German coalition negotiations were braced for dominating traders’ attention.

The EURO STOXX 50 gained 0.19%, France’s CAC 40 tacked on 0.19%, Germany’s DAX 30 soared 0.36%.

German Chancellor Angela Merkel of Germany entered negotiations with an opposing party in a last-ditch attempt to create a coalition government after a long period of political uncertainty in the euro zone's number one economy.

Financial stocks showed mixed performance. French lenders BNP Paribas and also Societe Generale rallied respectively 0.42% and 0.12%. In Germany, Deutsche Bank and Commerzbank went down respectively 1.32% and 1.07%.

As for peripheral lenders, in Italy Intesa Sanpaolo lost 0.36%, Unicredit gained 0.12%. Spanish financial institutions BBVA as well as Banco Santander rallied respectively 0.12% and 0.19%.

FTSE 100 dived 0.15% in London.

 

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