Europe stocks rise, led by Milan

Paris: European equities markets rose Monday, led by the Milan FTSE MIB stock exchange, which jumped nearly two percent as investors backed Carlo Cottarelli, an economist formerly with the International Monetary Fund, to form a technocrat government.

Italian President Sergio Mattarella vetoed the nomination of fierce eurosceptic Paolo Savona as economy minister, scuppering the anti-establishment Five Star Movement and far-right League’s bid to form a government.

Cottarelli, known as “Mr Scissors”, has been summoned for talks with the president later Monday.

Frankfurt’s DAX 30 meanwhile gained 0.6 percent as the Paris CAC exchange rose 0.4 percent.

The London FTSE stock exchange was closed for a bank holiday.