Europe Markets Close Higher After French and German PMIs Disappoint; Commerzbank Shares Fall 6%
European stocks closed higher Monday as investors assessed banking deals and German and French business activity data.
The pan-European Stoxx 600 index ended 0.4% higher, with most sectors and major bourses in positive territory. Autos stocks led the gains, up over 1.9% from the previous session.
Shares of Commerzbank fell around 5.7% after German Chancellor Olaf Scholz criticized UniCredit's "hostile" and "unfriendly" move on the bank, Reuters reported.
His comments come shortly after Italy's UniCredit announced it had increased its stake in the German lender to around 21% and submitted a request to boost the holding to up to 29.9%.
Source : CNBC