European Stocks Extend Rally With Late Surge

(RTTNews) - Government data released on Sunday showed that China's trade surplus jumped to nearly $36 billion in May, the highest in over five years, due to an unexpected fall in imports.

While exports increased 7 percent to $195.47 billion year-over-year, beating estimates, imports declined 1.6 percent to $159.55 billion, signaling weaker domestic demand.

Closer home, Eurozone investor confidence weakened for the second straight month in June, to the lowest since December 2013, survey results from the think tank Sentix showed.

The investor sentiment index fell unexpectedly to 8.5 in June, the lowest since December 2013, from 12.8 in May. The score was forecast to rise to 13 in June.

The Euro Stoxx 50 index of eurozone bluechip stocks is sliding 0.3 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is rising 0.16 percent.

The German DAX is gaining 0.09 percent and the UK's FTSE 100 is adding 0.16 percent. The French CAC 40 is marginally lower.

In Frankfurt, Commerzbank and ThyssenKrupp are gaining 1.4 percent each.

Sports good giant Adidas is rising 1.2 percent.

Bucking the trend, K+S is losing close to 2 percent.

In Paris, Michelin is moderately lower. The tire maker plans to acquire all outstanding shares of Sascar, Brazil-based digital fleet management and freight security company, for an enterprise value of 520 million euros.

Canaccord reduced Total to ''Hold'' from ''Buy.'' The stock is down 0.2 percent.

ArcelorMittal is rising 1.6 percent on the CAC 40. S&P Capital raised the stock to ''Hold'' from ''Sell.''

In London, Barratt Developments is gaining 2.2 percent and Capita is advancing 1.8 percent.

Johnson Matthey is rising 1.7 percent. HSBC raised the stock to ''Overweight'' from ''Neutral.''

Saab was surging 6.7 percent in Stockholm. The defence and security company received 467 million Swedish kroner worth orders from the Swedish Defence Materiel Administration.

Banco Popular Espanol is rising 4.2 percent in Madrid on a positive broker recommendation.