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Aug 19 (Reuters) - European shares rose on Monday, extending
gains from the previous session, as German stocks, led by
Deutsche Bank , rallied and investors cheered plans from Germany
and China to counter slowing growth.
Deutsche Bank's DBKGn.DE shares jumped 3.6% and helped the
DAX index .GDAXI climb 1.1%. Some major investors of the
German bank want supervisory board chairman Paul Achleitner to
step down before his term ends in 2022, a German magazine
reported on Friday. Stocks across Europe were also boosted on Friday by a report
that Germany's right-left coalition government would be prepared
to ditch its balanced budget rule and take on new debt to
counter a possible recession. The People's Bank of China announced key interest rate
reforms over the weekend to help steer interest rates lower.
The pan-European STOXX 600 index .STOXX was 1% higher by
0713 GMT, after rebounding from six-month lows on Friday, with
the technology sector .SX8P leading the charge.