EUROPE MARKETS: European Markets Positive Ahead Of Crucial Brexit Vote; Commerzbank Adds 4%
11 Março 2019 - 9:30AM
Dow Jones News
By Emily Horton
Ryanair, Glencore among big movers
Europe's indexes were in positive territory on Monday, led
higher by banks, with investors also waiting for the scheduled U.K.
parliamentary vote over Prime Minister Theresa May's Brexit deal to
take place on Tuesday.
Shares of Deutsche Bank AG and rival Commerzbank AG rose after
agreeing to informal merger talks.
How did markets perform?
The Stoxx Europe 600 added 0.3% to 371.79 on Monday, after
finishing down 1% for the previous week.
The U.K.'s FTSE 100 was the regions top climber adding 0.4% to
7,154.04. Germany's DAX (DAX) added 0.4% to 11,498.40 and France's
CAC 40 climbed 0.2% to 5,244.52.
Italy's FTSE MIB index adnd Spain's IBEX 35 were each flat.
The British pound bought $1.3028, versus $1.3014 late Friday,
while the euro climbed to $1.1243 from $1.1236 late in New York on
Friday.
What's driving the markets?
May will be venturing to Brussels on Monday, in an attempt to
negotiate final tweaks to her agreement to leave the European Union
with commission president Jean-Claude Juncker. On Tuesday British
lawmakers are scheduled to vote on her deal, however May might
delay the second parliamentary vote
(http://www.marketwatch.com/story/brexit-brief-another-may-delay-on-the-way-2019-03-11).
Weaker-than-expected Chinese loan and money supply data and
declining car sales data
(http://www.marketwatch.com/story/china-car-sales-continued-to-skid-in-february-2019-03-11)
added to the mounting global economic slowdown evidence.
China's aviation regulator has ordered its airlines to suspend
the operation of Boeing 737 MAX 8 planes after the crash of
Ethiopian Airlines flight 302, leading to 9% drop in the heavily
weighted
(http://www.marketwatch.com/story/dow-futures-tumble-160-points-as-boeing-drops-in-premarket-after-deadly-ethiopia-plane-crash-2019-03-11)Boeing
Co (BA) . Shares of Ryanair Holdings PLC (RY4C.DB) , also a
customer of Boeing's for those planes, fell 1.8%
Meanwhile, German industrial production dropped in January
(http://www.marketwatch.com/story/german-industrial-output-drops-in-january-2019-03-11),
missing forecasts, and exports were flat, a sign that Europe's
largest economy continues to flounder.
What stocks are active?
Deutsche Bank AG (DBK.XE) and rival Commerzbank AG
(CBK.XE)(CBK.XE) are back in focus on Monday, after weekend reports
that senior management at Deutsche had agreed to informal talks
investigating the feasibility of a merger
(http://www.marketwatch.com/story/deutsche-bank-commerzbank-agree-to-informal-talks-2019-03-11).
The former's shares gained nearly 1% while Commerzbank's climbed by
4%.
A number of heavyweight miners were up, with both Glencore
PLC(GLEN.LN) and Anglo American PLC(AAL.LN) adding 1%.
(END) Dow Jones Newswires
March 11, 2019 08:15 ET (12:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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