European stocks hit 5-month high on Deutsche-commerzbank merger talks

The European stocks rose on Monday morning in the first session of the week, continuing gains for a fourth session in a new five-month high, led by the banking and financial firms sector, after Germany's largest banks Deutsche Bank and Commerzbank confirmed merger talks at the end of last week.

As of 08:33 GMT, Stoxx Europe 600 rose by more than 0.1%, its highest level since last October, while ending Friday's session up 0.7% in the third consecutive daily gain, on hopes of a continued progress in trade talks Between the United States and China, and also after recent developments around the Brexit.

Stoxx Europe Index rose Monday morning to continue its gains for the fourth session in a row, hitting its highest level in five months, with most of the major markets and sectors in the Green Zone.

Banking and financial firms achieved strong gains, with Deutsche Bank up more than 3% and Commerzbank up more than 5% after the two banks confirmed talks on their merger over the weekend.

The mining and core resource sectors also made strong gains with more than 1.4%, with the mining companies Rio Tinto, Anglo American and ArcelorMittal gaining nearly 2%.

S & P 500 futures rose 0.2%, and the index ended Friday's session up 0.5%, hitting a five-month high.

Euro Stoxx 50 index gained 0.2%. while in France, CAC 40 index gained 0.3%. and Germany's DAX added more than 0.1%.

In London, FTSE 100 rose nearly 0.6%, leading the list of gainers in Europe, with just three days remaining for the british Prime Minister "Theresa May" to obtain the parliament support before the EU summit on Thursday.