[BENGALURU] European shares closed marginally higher on Monday led by gains for Banco Santander, as investors chose to focus on the positives of a weekend win for Prime Minister Pedro Sanchez's ruling socialists in Spain's third election in four years.
Mr Sanchez's pro-European PSOE won Sunday's election, but was short of a parliamentary majority, meaning it will need the help of regional parties, or the centre-right, to form a coalition government."It looks like we are going to be able to continue with a government under PSOE," said Bert Colijn, a euro zone-focused senior economist at ING."I would say it's quite a positive story.
Europe's banking sector index rose almost 1 per cent, with HSBC, Intesa Sanpaolo and BNP Paribas all among the top ten boosts to the broader Stoxx 600 index. A fall in German drug-maker Bayer, as well as oil majors tracking a decline in crude prices, kept gains in check.
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