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European Stocks Climb on Growth Optimism as UniCredit Bank Jumps


Monday, 4 June 2018 14:39 WIB

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European stocks advanced amid optimism about U.S. economic strength and as banking shares climbed following a report that Italian bank UniCredit is considering a merger with France’s Societe Generale.

The Stoxx Europe 600 Index gained 0.6%, after falling 1.1% last week. UniCredit jumped 2.9% and SocGen rose 2.6%. SocGen denied “any board discussion regarding a potential merger with UniCredit,” in an email to Bloomberg on Monday. Morgan Stanley said in a note that it sees opportunities in Italian and Spanish banks after the recent selloff.

Source: Bloomberg


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