Europe shares higher as oil gains; Deutsche Bank continues slide

European stocks were higher in morning trade Monday as investors cheered a rally in oil markets and awaited the start of the Federal Reserve's policy meeting this week. The pan-European Euro Stoxx 600 Index was higher on Monday with all sectors and bourses in positive territory. 

 

Oil markets were in focus with prices rising overnight after Venezuela said that OPEC and non-OPEC countries were close to reaching an output stabilizing deal, Reuters reported. Investors were also looking ahead to a meeting by the US Federal Reserve. The central bank starts a two-day meeting on Tuesday but the chances of a rate hike at this meeting are slim following a deluge of disappointing US data. "Central banks dominate the week, above all the Fed and the Bank of Japan, though there are also rate decisions in Egypt, Ghana, Indonesia, Kenya, New Zealand, Nigeria, Norway, Paraguay, Philippines, South Africa and Turkey," Marc Ostwald, a strategist at ADM Investor Services, said in a note Monday. 

 

Get live News Updates visit us at Ripples Advisory or One Missed Call on @98-27-80-80-90