Deutsche Bank outperforms weaker Europe stock markets
By Sudip Kar-Gupta and Lionel Laurent
LONDON, June 8 (Reuters) - Deutsche Bank shares surged more than 5 percent on Monday on boardroom changes at Germany's largest lender, outperforming weakness in European markets led by energy and mining stocks.
Drinks group Diageo also rose after a report said a Brazilian billionaire was considering a bid, while Europe's biggest biotech company Actelion lifted sharply on reported interest from Shire.
But European energy and mining shares were down more than 1 percent, with oil prices slipping on news of a slide in China's fuel imports and in the wake of OPEC's decision to maintain its production target.
The pan-European FTSEurofirst 300 index was down 0.4 percent at 1,536.73 points at 1107 GMT, while the euro zone's blue-chip Euro STOXX 50 index fell 0.3 percent.
European shares have recently taken a hit from turbulence in the credit market, where a rollercoaster sell-off in bonds has unsettled investors after years of cheap central-bank money and low volatility. German bund yields were higher on Monday.
Traders and investors welcomed Deutsche Bank's purge of its leadership, when it appointed Briton John Cryan as chief executive to replace Anshu Jain on Sunday.
"We do not foresee a dramatic change in strategy or capital raising, but market confidence on delivery should...increase," Jefferies analyst Omar Fall said. Continuación...