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Deutsche Bank leads European shares higher

Published 19/08/2019, 08:33
© Reuters.  Deutsche Bank leads European shares higher
DE40
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DBKGn
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STOXX
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SX8P
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Aug 19 (Reuters) - European shares rose on Monday, extending

gains from the previous session, as German stocks, led by

Deutsche Bank , rallied and investors cheered plans from Germany

and China to counter slowing growth.

Deutsche Bank's DBKGn.DE shares jumped 3.6% and helped the

DAX index .GDAXI climb 1.1%. Some major investors of the

German bank want supervisory board chairman Paul Achleitner to

step down before his term ends in 2022, a German magazine

reported on Friday. Stocks across Europe were also boosted on Friday by a report

that Germany's right-left coalition government would be prepared

to ditch its balanced budget rule and take on new debt to

counter a possible recession. The People's Bank of China announced key interest rate

reforms over the weekend to help steer interest rates lower.

The pan-European STOXX 600 index .STOXX was 1% higher by

0713 GMT, after rebounding from six-month lows on Friday, with

the technology sector .SX8P leading the charge.

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