European Markets at Close Report on December 27, 2016: European Stocks End Slightly Higher in First Day of Post-Christmas Trade

Natascha Divac

European stocks finished slightly higher Tuesday, as volumes remained thin with little news to give markets any clear direction on the first trading day after the long holiday weekend.
The Stoxx Europe 600 SXXP, +0.14%  rose 0.1% to finish at 360.48, with London markets still closed.

The Stoxx Europe Banks Index SX7F, -0.28%  fell 0.3% amid ongoing concerns about the future of Italy’s ailing lender, Banca Monte dei Paschi di Siena SpA BMPS, -7.48%  . The bank was still suspended from trade Tuesday.

Plans for a government bailout will need to be approved by the European Union to ensure state-aid rules aren’t breached, European Central Bank Governing Council member Jens Weidmann said Monday.
Matthew Lynn: 4 possible surprises for European markets in 2017

The European Central Bank has told Monte that its capital shortfall has jumped to €8.8 billion ($9.19 billion) from the €5 billion expected when the government organized a rescue last week. The latest figure significantly raises the amount the Italian government will have to deploy to rescue the troubled lender.

Shares in Deutsche Bank AG DB, -1.56% DBK, -1.54%  declined 1.5% after the German lender’s $7.2 billion settlement with the U.S. Department of Justice sent its stock sharply higher on Friday.


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