LIVE MARKETS-Banks, miners support the STOXX as oil falls

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BANKS, MINERS SUPPORT THE STOXX AS OIL FALLS

Upbeat European banking M&A and earnings news lifted the STOXX 600 .STOXX in early trade on Monday, alongside gains in miners on firmer metal prices and a rebound in technology stocks after last week's bruising selloff.

The pan-European index was up about 0.6%, with Banco BPM BAMI.MI surging more than 10% after Credit Agricole CAGR.PA proposed merging the Italian lender with its local unit. A record quarter helped lift UniCredit CRDI.MI more than 5%.

In London, the FTSE 100 .FTSE gained 0.5%, led by miners Endeavour EDV.L, Antofagasta ANTO.L and Fresnillo , which rose around 3% as gold and copper prices advanced.

Tech .SX8P also gained 1%, supported by strength in software maker SAP SAPG.DE and chip stocks as Nasdaq futures recovered from earlier losses, despite lingering uncertainty surrounding the investigation involving Nvidia NVDA.O CEO Jensen Huang.

Falling oil prices didn't hurt either, with Brent last down 2% at $96.6.

The overall picture was mixed, however. Luxury goods, consumer stocks, real estate and telecoms were among the laggards, while roughly one-third of STOXX constituents traded in negative territory.

(Danilo Masoni)

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