(Updates prices, adds context)
By Sudip Kar-Gupta and Lionel Laurent
LONDON, June 8 (Reuters) - Shares in Germany’s largest lender, Deutsche Bank, surged almost 5 percent on Monday on the appointment of a new CEO, but failed to offset a broader sell-off in European equities as bond yields and the euro rose.
Deutsche was one of only two stocks in positive territory on the Frankfurt DAX index, which was on track to hit its lowest closing level since late February. The index has fallen more than 10 percent from all-time highs hit in April.
The FTSEurofirst 300 was down 0.6 percent.
Traders and analysts expected the region’s stock markets to make little progress in the near term, while Greece’s debt talks with international creditors remained unresolved. Greek shares fell 2.7 percent.
“Rising bond yields and the continued impasse over a new Greece deal keep investors cautious,” said CMC Markets analyst Michael Hewson.
European energy and mining shares were down more than 1 percent, with oil prices slipping on news of a slide in China’s fuel imports and in the wake of OPEC’s decision to maintain its production target.
Drinks group Diageo soared 7 percent after a report said a Brazilian billionaire was considering a bid, while Europe’s biggest biotech company, Actelion, rose sharply on reported interest from Shire.
Syngenta’s shares fell 1.5 percent after the company rejected a second takeover proposal from agrochemicals firm Monsanto.
A pick-up in corporate takeover activity, coupled with economic stimulus measures from the European Central Bank (ECB), has helped to support shares for much of the year.
The FTSEurofirst remains up by around 13 percent since the start of 2015, although it is down 7 percent from peaks reached in April, partly due to lingering worries over Greece.
The European Union’s exasperation with Greece burst into the open on Sunday when Commission President Jean-Claude Juncker rebuked leftist Prime Minister Alexis Tsipras and warned that time was running out to conclude a debt deal to avert a damaging Greek default.
France’s finance minister said on Monday that a Greek exit from the euro would “not be serious” for the euro zone’s economy or its finances, although it would damage the cause of European integration. (Reporting by Sudip Kar-Gupta and Lionel Laurent; Editing by Kevin Liffey)