Financials get EU stocks off to sturdy start

Financials get EU stocks off to sturdy start

On Monday, European shares leapt, with leading banks and utilities, as acquisitions and mergers rumbled on with some broker notes also backing individual stock moves.

The STOXX 600 gained 0.4%, soaring in concert with euro zone shares as well as blue-chips. Meanwhile, strong revenues in banks spurred the benchmarks, while basic resources showed poor performance.

Outside the key blue chips, British midcap construction support services company Carillion managed to grabbed investors’’ attention after a revenue warning and CEO exit sent its stocks dipping almost 40% in heavy volumes.

Carillion stocks appear to be among the most heavily shorted across the British market with hedge funds including Marshall Wace as well as Naya Capital announcing sizeable bearish bets, as FCA disclosure data states.

Meanwhile, Germany's DAX went up 0.6%, maintaining an edge over counterparts after both export as well as import figures were stronger than expected, with a bigger soar in exports contributing to the trade surplus of the EU’s key economy.

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