Eurofins Scientific drops after Muddy Waters says short on co
Germany39;s Hochtief tops STOXX on Jefferies upgrade
STOXX 600 up 0.4

June 24 Reuters European shares advanced on Monday, shrugging off initial losses as automobile and bank stocks rose, while focus remained on the first round of French parliamentary elections later this week.

The panEuropean STOXX 600 rose 0.4 as of 0838 GMT. Autos led gains with a 1.6 increase as the European Union and China agreed to hold talks on the planned imposition of tariffs on Chinesemade electric vehicles EVs.

Euro zone banks added 0.9 with Italian lenders such as BPER, UniCredit and Monte dei Paschi di Siena gaining between 2.4 and 3.7.

The focus will be on the first round of France39;s parliamentary elections this week, with polls showing a lead for the farright National Rally RN party and its allies.

The French benchmark began the week 0.5 up.

Investors awaited commentary from at least four members of the European Central Bank ECB later in the day, including board member Isabel Schnabel, for clues on the central bank39;s monetary policy path.

On the data front, German business morale unexpectedly fell in June due to more pessimistic expectations of Europe39;s largest economy, according to a survey.

The optimism at the start of the year has given way to realism. The latest readings have illustrated that the German economy is still struggling to gain more momentum, said Carsten Brzeski, global head of macro at ING….