Europe’s indexes were in positive territory on Monday, led higher by banks, with investors also waiting for the scheduled U.K. parliamentary vote over Prime Minister Theresa May’s Brexit deal to take place on Tuesday.
Shares of Deutsche Bank AG and rival Commerzbank AG rose after agreeing to informal merger talks.
How did markets perform?
The Stoxx Europe 600 SXXP, -0.59% added 0.3% to 371.79 on Monday, after finishing down 1% for the previous week.
What’s driving the markets?
May will be venturing to Brussels on Monday, in an attempt to negotiate final tweaks to her agreement to leave the European Union with commission president Jean-Claude Juncker. On Tuesday British lawmakers are scheduled to vote on her deal, however May might delay the second parliamentary vote.
Weaker-than-expected Chinese loan and money supply data and declining car sales data 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 Boeing Co BA, +0.00% . Shares of Ryanair Holdings PLC RY4C, -4.83% , also a customer of Boeing’s for those planes, fell 1.8%
Meanwhile, German industrial production dropped in January, missing forecasts, and exports were flat, a sign that Europe’s largest economy continues to flounder.
What stocks are active?
Deutsche Bank AG DBK, +1.50% and rival Commerzbank AG CBK, +3.35% CBK, +3.35% 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. The former’s shares gained nearly 1% while Commerzbank’s climbed by 4%.
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