2016.11.1406:19:00UTC+00European Stocks Higher as Banks, Miners Gain

European shares climbed in early trading, supported by advances among banks and mining sector stocks, as Intrum Justitia surged following a merger deal. The pan-European STOXX 600 rose by more than 1.2 percent.

Analysts view the policies of Trump to lead towards higher inflation that could attract inflows into the U.S. dollar and raise expectations of an interest rate hike by the Federal Reserve soon. Higher bond yields and the possibility of an interest rate hike has helped the European banking and financial services sectors. Siemens has agreed to purchase Mentor Graphics in a $4.5 billion all-cash deal, which sent shares higher. DCC reported that full-year profit will be ahead of market consensus and announced a deal to purchase Gaz Européen for 110 million euros ($119 million) while its shares in the company traded by more than 8.6 percent higher.

Shares of Intrum Justitia surged by more than 16 percent following an announcement of plans to merge with Lindorff. Shares of RWE were in green territory after it said that it sees 2016 earnings at the upper ends of the guidance range. UniCredit climbed four percent as Reuters previously reported that it may seek to raise between 10 billion and 13 billion euros in a share issue.

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