Skip to main content

European markets rose on Monday as oil prices recovered and economic indicators suggested the euro zone has put initial post-Brexit-vote wobbles behind it.

German exports and imports both rebounded far more decisively than expected in August, according to Federal Statistical Office figures, while the Sentix investor confidence index for the euro zone came in much higher than expected at 8.5, putting it back to its pre-Brexit-vote levels and well up from September's reading of 5.6

Meanwhile, a marginal consensus emerged that Hillary Clinton was the winner in the second Presidential debate after a bitter clash with Republican candidate Donald Trump.

By early afternoon in Europe the FTSE 100 was up 0.33% at 7,067.30

Resources and energy shares pulled the index higher, including precious metal miners Fresnillo, and Randgold Resource (GOLD) - Get Barrick Gold Corporation Report , and oil producer Royal Dutch Shell.

Oil was recently up, with West Texas intermediate 1.04% higher at $50.33 a barrel.

Gold was up 0.94% on Comex at $1,263.20 an ounce.

U.S. futures were up, with the Dow Jones mini  0.37% higher and the S&P 500 mini leaping by 0.44%.

In Frankfurt, the Dax was up 0.80% at 10,574.53 and in Paris the Cac 40 was up 0.56% at 4,474.77.

TheStreet Recommends

Banks were mixed.

Deutsche Bank (DB) - Get Deutsche Bank AG Report was recently up 0.8% after falling more than 2% initially on worries that the bank hadn't yet announced a settlement with the DoJ over a disputed $14 billion fine for misselling mortgage-backed securities.  The Financial Times also reported that Deutsche Bank was given special treatment in European Banking Authority stress tests in July by being allowed to account for the $4 billion or so proceeds it expects from the disposal of its stake in China's Hua Xia Bank as if the sale had already closed.

However, Barclays (BCS) - Get Barclays Plc Report was recently down 1.2% and Royal Bank of Scotland (RBS) - Get Royal Bank of Scotland Group Plc Report was down 1.9%.

Commerzbank (CRZBY)  fell 1.3%.

Bankers from UBS (UBS) - Get UBS Group AG Report and Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report concurred with International Monetary Fund calls for the European banking sector to clean up its balance sheet.

William Hill (WIMHY) was up 2.1% after the company confirmed it was in talks about a no-premium "merger of equals" with Canada's Amaya (AYA) . Amaya had risen 8.2% in Toronto on Friday.

But in Frankfurt lighting maker Osram (OSAGY) fell 0.9% after Chinese suitor San'an Optoelectronics downplayed a report last week that it was poised to make a takeover offer. It told the Shanghai Stock Exchange that it has only held one round of in-person talks and hasn't agreed on a price, the Financial Times reported.

Wirtschaftswoche last week reported San'an Opto could be willing to pay €70 ($78.11) per share for the company. Osram was recently trading at €57.35.

Lisa Botter contributed to his report.