European shares led higher by positive bank stocks
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MILAN Aug 1 (Reuters) - European shares rose in early deals on Monday, underpinned by gains among banking stocks after results of a Europe-wide stress tests delivered no negative surprises.
By 0707 GMT, the pan-European STOXX 600 index was up 0.4 percent, while the STOXX 600 Banking index rose 0.7 percent, making it one of the biggest sectoral gainers.
Italian lender Monte dei Paschi, which emerged as the worst performer in the stress tests, rose 5.8 percent, reflecting some optimism over a last minute rescue plan.
Other Italian banks including UniCredit were among the top performers in the sector, while Deutsche Bank rose 2.6 percent after its Chief Risk Officer said the tests had shown there was no reason for a capital hike at the German bank.
Among the fallers, Heineken dropped 2.7 percent after reporting first half revenue below Reuters' estimates. (Reporting by Danilo Masoni, editing by Kit Rees)
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