UKX FTSE 100 Index

By Victor Reklaitis, MarketWatch

Furniture seller Steinhoff International also a big winner

European stocks scored modest gains Monday, helped by jumps for Royal Bank of Scotland, Rolls-Royce and furniture seller Steinhoff International.

Investors also tracked a tightening French presidential race, as well as progress made on debt-laden Greece's bailout at a meeting of eurozone finance ministers.

The Stoxx Europe 600 tacked on 0.2% to end at 371.04, building on last week's gain of 0.8%. The pan-European benchmark logged its highest close since December 2015 (http://www.marketwatch.com/story/european-stocks-stomp-toward-highest-close-since-2015-as-banks-rally-2017-02-15) during last week's action.

Trading was somewhat subdued Monday, as U.S. markets were closed for Presidents Day (http://www.marketwatch.com/story/which-markets-will-be-closed-on-presidents-day-2017-02-16).

"Political developments in France and Greece and the absence of U.S. investors, who were busy celebrating Presidents Day, meant European stocks showed no clear direction on Monday," said Jasper Lawler, senior market analyst at London Capital Group, in a note.

"Europe is caught between the good news of a likely Greek bailout deal and the bad news of rising anti-EU sentiment in France before its election," Lawler added.

There has been a deadlock in Greek bailout talks (http://www.marketwatch.com/story/greek-bailout-deal-is-within-sight-eus-moscovici-2017-02-16), but the European Union's economics chief, Pierre Moscovici, said Monday after the meeting of ministers that both sides are committed to reaching a deal (https://twitter.com/dgatopoulos/status/833714814497198082).

Meanwhile, a poll showed French populist Marine Le Pen gaining ground (http://uk.reuters.com/article/uk-france-election-poll-idUKKBN15Z1FN) on her main election rivals.

Read: 6 ways Europe could trigger market turmoil in 2017 (http://www.marketwatch.com/story/6-ways-europe-could-trigger-market-turmoil-in-2017-2017-01-31)

The euro was trading at $1.0623, up from $1.0608 late Friday.

Movers: Shares in Royal Bank of Scotland Group PLC (RBS.LN) (RBS.LN) gained 6.8% following news the bank might not sell its Williams & Glyn business (http://www.marketwatch.com/story/rbs-may-forgo-williams-glyn-sale-2017-02-20). RBS had agreed to the sale during the financial crisis, but it has proved troublesome.

Rolls-Royce Holdings PLC (RR.LN) jumped 6.3% after Goldman Sachs analysts upgraded their rating for the engines maker to buy and put the stock on their "conviction" list.

Steinhoff International Holdings N.V. climbed more than 5%, after the Frankfurt-listed furniture seller ended deal talks with South African supermarket operator ShopRite Holdings Ltd. (SHP.JO).

Unilever PLC's U.K.-listed shares (ULVR.LN) (ULVR.LN) (UNA.AE) closed down 6.6% after American rival Kraft Heinz Co. (KHC) on Sunday dropped its $143 billion offer (http://www.marketwatch.com/story/kraft-heinz-withdraws-bid-for-unilever-2017-02-19) for the Anglo-Dutch consumer-goods giant.

(http://projects.marketwatch.com/2017/trump-today-signup/)

National indexes: Greece's Athex Composite rose 1% to 645.95.

The U.K.'s FTSE 100 index was roughly unchanged to finish at 7,299.86.

France's CAC 40 index inched down less than 0.1% to end at 4,864.99, while Germany's DAX 30 tacked on 0.6% to close at 11,827.62.

(END) Dow Jones Newswires

February 20, 2017 12:16 ET (17:16 GMT)

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