Europe: Shares rebound, helped by bank merger talk

[MILAN] European shares had their best day in four weeks on Monday, rebounding from three straight sessions in the red thanks notably to merger chatter in the battered banking sector, which help offset worries over a slowdown in the global economy.London's export-heavy FTSE gradually lost steam, as the pound rose on optimism about the progress of Britain's exit from the European Union ahead of a key vote in Parliament scheduled for Tuesday.

Berenberg's equity sales team said a merger between the two could make sense, given the overlap in their businesses, even though Deutsche has repeatedly said it needs to focus on increasing its own profitability. Merger hopes lifted Charter Court Financial and OneSavings Bank up 11.2 per cent and 11 per cent respectively after the two UK challenger banks said they were in advanced talks about a possible all-share tie-up.Shares in Boeing fell 7 per cent in New York after some airlines grounded the company's new 737 MAX 8 passenger jet following Sunday's fatal Ethiopian Airlines crash.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Europe: ECB upset knocks European stocks[MILAN/LONDON] European shares fell from five-month highs on Thursday after the European Central Bank changed its interest rate guidance and announced a new round of cheap bank loans sooner than expected, though with tougher terms than previous rounds. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Europe: Sliding car stocks drag Europe down as investors hit the brakes[LONDON] European shares stalled on Wednesday as weak results from the troubled auto sector weighed and investor confidence in a rally that has sent stocks shooting up this year showed signs of fraying. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Europe: Stocks drop at open[LONDON] Europe's stock markets sank at the open on Friday after heavy losses elsewhere, as investors fears intensified over a sharp global economic slowdown. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Europe: Stocks advance at open[LONDON] Europe's main stock markets climbed at the start of trading on Monday, with London's benchmark FTSE 100 index up 0.6 per cent at 7,144.59 points. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »