European shares led higher by stronger banks, miners

  • Reuters
  • Stock Market News
European shares led higher by stronger banks, miners
Credit: © Reuters.

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets)

MILAN, Nov 14 (Reuters) - European shares rose in early trading on Monday, underpinned by gains among banks and mining sector stocks, while debt collector Intrum Justitia soared after a merger deal.

By 0813 GMT, the pan-European STOXX 600 .STOXX index rose 1.1 percent. While all sectors were in postive territory, the basic resources and bank indexes were the biggest gainers with a rise of around 2 percent.

Swedish debt collector Intrum Justitia IJ.ST soared 16 percent to a fresh record high after it said it would merge with Norway-based Lindorff. Its shares led gainers on the STOXX.

London-listed support services firm DCC DCC.L rose 8 percent after the company said it expected full-year operating profit to be ahead of market expectations.

Among banks, UniCredit CRDI.MI rose 4 percent. Over the weekend, Reuters reported that Italy's biggest bank may seek to raise between 10 billion and 13 billion euros in a share issue.

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