2018.06.0419:18:00UTC+00European Markets Finish Higher as Utility Stocks Rally

European stock markets ended higher on Monday, amid a series of corporate news regarding prospect mergers and acquisitions.

The pan-European Stoxx 600 ended marginally higher by 0.3 percent, with majority of sectors and big exchanges closing in positive territory.

Europe's utility stocks rallied and led the gains on Monday, rising by 0.4 percent. Italgas, Pennon Group and Iberdrola outperformed in the sector, all trading 3 percent up.

Meanwhile, Europe's banking sector was also trading higher after a week of political chaos in Italy and Spain. The Financial Times reported that French lender Societe Generale and Italian competitor Unicredit were considering the prospect of a merger. Shares of Societe Generale climbed over 1 percent while Unicredit's stock edged down 1 percent.

French Flag carrier Air France-KLM jumped almost to the top of the European benchmark after AccorHotels said on Sunday that it was mulling the possibility of buying a stake in the firm Shares of Air France climbed almost 5.5 percent, while AccorHotel fell towards the lower end of the index, falling by almost 7 percent.