FTSE hits 15-month highs, drives rest of Europe higher

The European equity markets were off to a positive start on Monday, despite a market holiday in the Eurozone’s economic power, Germany, as investors continued to cheer positive news around Deutsche bank’s settlement to the US Department of Justice (DOJ).

On Friday, the US-listed shares in Deutsche Bank rallied 14% on news that its fine charged by the DOJ could be reduced to $5.4 billion from $ 14lbln previously estimated. While renewed strength seen in the oil prices also lifted the energy sector stocks, in turn driving the indices higher.

Meanwhile, the UK’s FTSE 100 index jumps to its highest levels since June 2015, with markets shrugging-off latest Brexit process-related worries, triggered by the UK PM May’s speech. The index rallied largely on the back of all-share merger news between fund management firms Janus Capital and Henderson Group.  Shares of Henderson surged over 16%, sending financial sector stocks higher.

The UK's FTSE 100 index jumps +1.07% to 6,973. Among the other indices, the French CAC 40 index advances to 4,461, recording a +0.31% gain on the day.