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European stocks edge up as oil and bank shares gain

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European markets trudged higher Monday, with energy shares among those advancing as trading got underway for the fourth quarter.

The Stoxx Europe 600 was up 0.2% at 343.65. All sectors but the defensive utilities group moved higher.

Topping the index was Henderson Group PLC (HGG.AU), whose shares soared 13% after the investment management firm reached a deal for an all-share merger with Janus Capital Group Inc. The move would give the combined group a market capitalization of £4.66 billion.

The Stoxx 600 on Friday closed up 0.1% as Deutsche Bank AG led a turnaround among equities, spurred by talk that the lender may be able to pay a lower-than-anticipated fine to U.S. regulators related to selling of mortgage securities.

A deal hasn’t emerged as of early Monday. Talks between Deutsche Bank and the Justice Department have been moving forward, but a proposal for a deal has yet to reach the top levels at the bank nor at the DOJ, the Wall Street Journal reported.

Paul

The author Paul