BRUSSELS (dpa-AFX) - European stocks rebounded on Monday after steep losses last week, helped by hopes that Portugal can avert another banking crisis.
Vítor Bento was named new chief executive at Banco Espírito Santo SA, whose shares dropped another 8 percent. Still, the move is seen as restoring confidence that the bank can get its books in order after missing another debt payment.
Coming off the worst week since March, the Euro Stoxx 50 index of eurozone bluechip stocks rose 0.96 percent.
Germany's DAX jumped 1.29 percent, led by strong performances in the banking sector. The CAC of France rose 0.78 percent, and the FTSE of the U.K. picked up 0.84 percent.
Investors shrugged off the latest disappointing euro zone economic data.
Eurozone industrial production declined in May for the second time this year, according to estimates published by Eurostat. Output fell 1.1 percent from the previous month, reversing a 0.7 percent rise in April. Economists expected output to decline 1.2 percent.
In corporate news, Adidas shares rallied 2.6 percent in Frankfurt after Germany beat Argentina in a tight World Cup final soccer match sponsored by the German sportswear maker.
Deutsche Telekom added 0.74 percent on a Nikkei report Japan's Softbank Corp is nearing a deal to acquire T-Mobile US Inc. from its German parent.
Rolls-Royce Holdings Plc shares added 1.5 percent in London after Airbus Group NV said it has launched two new wide-body air-crafts - the A330-800neo and A330-900neo, which will have the latest generation Rolls-Royce Trent 7000 engines, aerodynamic enhancements and new cabin features.
Shire Plc rose 1.7 percent. The drug company said it has received a further revised proposal from AbbVie on July 13, which would value 53.20 pounds per share, up from the previous 51.15 pounds per share.
Sweden-based Meda AB tumbled 4.5 percent on a report the company is in advanced talks to buy some of Abbott Laboratories' portfolio of drugs in Europe.
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