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Europe: Shares rebound, helped by bank merger talk

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[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. Read more at The Business Times.

[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.

 

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