European stocks lifted by gains in steelmakers and banks

lunes 11 de julio de 2016 04:28 GYT

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* STOXX 600 up for third straight session

* Thyssenkrupp and ArcelorMittal among top performers

* Goldman Sachs keeps "neutral" view on equities

By Sudip Kar-Gupta

LONDON, July 11 (Reuters) - A rally in the shares of steelmakers and financials helped European stocks to rise for the third straight session on Monday, with the steel companies lifted by signs of sector consolidation.

The pan-European STOXX 600 index gained 0.5 percent. It is down about 10 percent so far in 2016, having lost ground in the immediate aftermath of Britain's shock vote last month to leave the European Union, although it has recovered from the lows reached after the June "Brexit" vote.

ThyssenKrupp, Germany's biggest steelmaker, said it was in talks with India's Tata Steel about a consolidation of beleaguered European steel mills that are hit by overcapacity, weak demand and cheap imports.

The prospect of sector consolidation pushed up Thyssenkrupp shares by 5 percent, while rival ArcelorMittal also climbed 4.7 percent.   Continuación...