Deutsche Bank shares soar but fail to offset European falls
(Updates prices, adds context)
By Sudip Kar-Gupta and Lionel Laurent
LONDON, June 8 (Reuters) - Shares in Germany's largest lender, Deutsche Bank, surged almost 5 percent on Monday on the appointment of a new CEO, but failed to offset a broader sell-off in European equities as bond yields and the euro rose.
Deutsche was one of only two stocks in positive territory on the Frankfurt DAX index, which was on track to hit its lowest closing level since late February. The index has fallen more than 10 percent from all-time highs hit in April.
The FTSEurofirst 300 was down 0.6 percent.
Traders and analysts expected the region's stock markets to make little progress in the near term, while Greece's debt talks with international creditors remained unresolved. Greek shares fell 2.7 percent.
"Rising bond yields and the continued impasse over a new Greece deal keep investors cautious," said CMC Markets analyst Michael Hewson.
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.
Drinks group Diageo soared 7 percent after a report said a Brazilian billionaire was considering a bid, while Europe's biggest biotech company, Actelion, rose sharply on reported interest from Shire. Continuación...