European Shares Rise While Market Looks for Brexit Comments

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European stocks gained in early trading, lifted by the oil and mining sectors. While U.S. markets closed in red on Friday, Asian stocks traded higher on Monday.

“Market participants will pay close attention to any comments on the Brexit situation ahead of the crucial vote tomorrow,” said Stephane Ekolo, equity strategist at TFS Derivatives in London. The U.K. parliament looks set to vote down Prime Minister Theresa May’s deal on Tuesday.

The Stoxx Europe 600 index rose 0.4 percent, with basic resources, oil and telecom sectors among the top gainers. The financial sector is likely to be of continued interest given the merger saga of Deutsche Bank AG and Commerzbank AG, as well as Charter Court Financial Services Group Plc and OneSavings Bank Plc confirming talks on an all-share merger, Ekolo said. He also highlighted the “disappointing” German industrial production data point for January.

To contact the reporter on this story: Hanna Hoikkala in Stockholm at hhoikkala@bloomberg.net

To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Jon Menon

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