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.
Global X Funds Global X ... (NASDAQ:DAX)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Global X Funds Global X ... Charts.
Global X Funds Global X ... (NASDAQ:DAX)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Global X Funds Global X ... Charts.