EUROPE MARKETS: European Markets End Higher Ahead Of Brexit Vote; Commerzbank Surges 7%
11 Março 2019 - 2:51PM
Dow Jones News
By Emily Horton
Ryanair, Glencore among other big movers
Europe's indexes finished in positive territory Monday, led
higher partly by banks, with investors also awaiting a scheduled
U.K. parliamentary vote on Prime Minister Theresa May's Brexit.
Shares of Deutsche Bank AG and rival Commerzbank AG jumped after
a report said that the two embattled German lenders were engaged in
informal merger talks.
How did markets perform?
The Stoxx Europe 600 added 0.8% to 373.47 on Monday, after
producing a weekly loss on Friday. Monday's climb represented the
pan-European index's largest daily point and percentage gain since
Feb. 15, according to Dow Jones Market Data.
The U.K.'s FTSE 100 , meanwhile, added 0.4% to 7,130.62, coming
off its intrasession highs. Germany's DAX (DAX) advanced 0.8% to
11,543.48 and France's CAC 40 climbed 0.7% to 5,265.96.
Italy's FTSE MIB index gained 0.8% to close at 20,638.22, while
Spain's IBEX 35 closed 0.5% higher at 9,171.90.
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 was set to arrive in Brussels Monday, as the U.K. Prime
Minister attempts to renegotiate tweaks to her Brexit plans with
commission president Jean-Claude Juncker. On Tuesday, British
lawmakers are scheduled to vote on her deal, however May might
(http://www.marketwatch.com/story/brexit-brief-another-may-delay-on-the-way-2019-03-11).
Separately, 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), which uses the
737 Max within its fleet, 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 5% while Commerzbank's climbed 7.2%.
A number of heavyweight miners were up, with shares of Glencore
PLC(GLEN.LN) gaining 1.8% and those for Anglo American PLC(AAL.LN)
finishing 0.8% higher.
(END) Dow Jones Newswires
March 11, 2019 13:36 ET (17:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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