European stocks start higher on Deutsche Bank relief
On Monday, European stocks started higher, as easing worries regarding Deutsche Bank’s health kept backing market sentiment, though traders remained cautious ahead of a report on British manufacturing activity due later in the day.
During European morning trade, the EURO STOXX 50 acquired 0.44%, German DAX 30 leapt 1.01%, French CAC 40 earned 0.15%.
European equities regained ground reacting to reports last week that Deutsche Bank is currently nearing a deal to settle a mortgage-securities investigation by simply paying a $5.4 billion fine, lower than the Justice Department’s original proposal of $14 billion.
German newspaper Frankfurter Allgemeine Zeitung unveiled the fact that Deutsche Bank’s CEO John Cryan would pay a visit to Washington this week, while other senior executives would join him to negotiate a settlement with the US government.
In London, FTSE 100 edged up 0.5%, backed by revenues in the energy as well as mining sectors.