Home Stock & Shares European stocks edge up as oil and bank shares gain

European stocks edge up as oil and bank shares gain

by Paul

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.

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