BREAKING - European Stocks Higher on Strong Economic Data; BBVA Surges

European stock markets traded higher Monday, boosted by positive corporate news while strong economic data from Japan and China fueled optimism of a global recovery. 

At 3:35 a.m. (ET), the DAX in Germany traded 0.7% higher, the CAC 40 in France rose 0.9%, while the U.K.'s FTSE index climbed 0.7%.

BBVA (MC:BBVA) stock soared over 15% after Reuters reported that PNC Financial (NYSE:PNC) is nearing an all-cash deal to buy the U.S. business of the Spanish lender for more than $10 billion. That's nearly half of the bank's market capitalization as of Friday's close. The whole European banking sector has gained as a result, with Banco de Sabadell rising 10% on speculation that BBVA will use the money to bulk up in its home market.

Additionally, Vodafone (NASDAQ:VOD) stock rose 3.1% after the U.K. telecommunications group said it was increasingly confident about its full-year performance after a "resilient" first half in the face of disruption from the pandemic.

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