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In the corporate sector, European lenders recorded significant gains in early deals with a number of Italian banks – including Unicredit, Banco BPM and Mediobanca – reaching the benchmark. Italy continues to be watched closely as investors wait for economic developments.
On Monday, Reuters reported, citing a government source, that the country's government coalition is questioning whether to reduce the 2019 budget deficit target to 2 percent of gross domestic product, in order to Avoid a disciplinary procedure from Brussels. The rise in Italian banks boosted the FTSE MIB, which jumped more than 3% in the first transactions.
On the corporate side, Eurofins Scientific grew by more than 4.5% after the laboratory test group confirmed its targets for 2018 and extended its organic growth targets beyond 2020. Boskalis jumped 5% after announcing the signing of an agreement with Saudi Aramco, associate it with its investment program.
Energy stocks received a boost during the session Oil prices rebounded after Friday's declines. At the start of European trade, US crude fluctuated just over $ 51, while Brent rose more than 2%, above $ 60 a barrel. The recovery in oil helped support Asian markets, which were mixed up Monday.
