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European Equities Close Mostly Higher

By Investors Hub

European stocks are mostly higher on Monday as strong U.S. jobs data stoked optimism about global growth and German utilities E.ON and RWE announced they are planning a major asset swap involving RWE subsidiary Innogy.

While the German DAX Index has advanced by 0.7 percent, the French CAC 40 Index is up by 0.3 percent and the U.K.?s FTSE 100 Index is up by 0.1 percent.

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RWE has soared after the company reached an agreement in principle according to which RWE shall sell its 76.8 percent stake in Innogy SE to E.ON. Innogy and E.ON have also rallied.

Deutsche Bank has risen on reports that the management board is seeking to cut as many as 6,000 jobs at the lender’s retail unit by the end of 2022.

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Air France KLM has climbed amid reports that a consortium of India’s Jet Airways, Air France-KLM and Delta Air Lines are bidding for national carrier Air India.

British engineering group GKN has advanced after Melrose raised its offer for the company to 8.1 billion pounds.

Meanwhile, Swiss bakery business Aryzta has tumbled after reporting a wide first-half net loss.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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