empty
 
 

2018.06.0419:18:00UTC+00European Markets Finish Higher as Utility Stocks Rally

European stock markets ended higher on Monday, amid a series of corporate news regarding prospect mergers and acquisitions.

The pan-European Stoxx 600 ended marginally higher by 0.3 percent, with majority of sectors and big exchanges closing in positive territory.

Europe's utility stocks rallied and led the gains on Monday, rising by 0.4 percent. Italgas, Pennon Group and Iberdrola outperformed in the sector, all trading 3 percent up.

Meanwhile, Europe's banking sector was also trading higher after a week of political chaos in Italy and Spain. The Financial Times reported that French lender Societe Generale and Italian competitor Unicredit were considering the prospect of a merger. Shares of Societe Generale climbed over 1 percent while Unicredit's stock edged down 1 percent.

French Flag carrier Air France-KLM jumped almost to the top of the European benchmark after AccorHotels said on Sunday that it was mulling the possibility of buying a stake in the firm Shares of Air France climbed almost 5.5 percent, while AccorHotel fell towards the lower end of the index, falling by almost 7 percent.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback