27.05.201403:15:53UTC+00Italian Banks Lead European Stocks Rise After Elections

Italian banks soared after the European Parliamentary Election results came in. The European market closed into positive territory on Monday with more indications of easing from President of European Central Bank, Mario Draghi. This increase came as the holidays in US and UK underwent resulting in lower volumes.

Italian stocks had a great start on the week a sit outperform any other European stocks with the FTSE MIB Index up by 1.83% to 20, 745.00. The Banks were at the forefront of the Italian stock increase with UnitedCredit SpA and Banca Popolare di Milano S.C.A.R.L. up by 4.28% and 7.15% respectively. These gain were observed after Italian Prime Minister Matteo Renzi's center-left Democratic Party seemed to have fought off a situation with euroskeptic party.

Higher trading was seen in Wall Street stock futures after a field day for markets on Friday.

The Stoxx Europe 600 index increased 0.56% to finish at 343.69 making for a sixth weekly consecutive rise on Friday. US housing data exalted the markets, even pushing the S&P 500 to close on a record high above 1,900 earlier in the week.

In Europe, Atos closed at a index 6.33% higher after the French IT services company offered 844.44 million to purchase it s rival, the Bull SE which has a 21% increase. A tender offer of 4.9 euros share in case with the 22% will be available from Atos as reported by the Wall Street Journal.

Stocks in Germany showed a great performance as DAX 30 index rose 1.28% to 9,875.20. Daimler is up by 2% meanwhile BMW AG gained 1.55%.

The euro increased from $1.3645 from $1.3630 on late Friday in North America trade. European Central Bank's president meanwhile advises to be “particularly watchful” of a negative spiral among low inflation, falling inflation expectation, and credit especially in countries facing stress. The euro stays at it's 3-month lows even if there were hints from ECB early in May.