Anshu Jain's quitting Deutsche Bank cheers investors; stock outperforms

European shares fell on Monday,weighed down by a drop in agrochemicals group Syngentaalthough Deutsche Bank outperformed to surge higherafter boardroom changes at the German bank.

The pan-European FTSEurofirst 300 index was flatwhile the euro zone's blue-chip Euro STOXX 50 indexfell 0.2%.

Syngenta was the worst-performing stock on the FTSEurofirst300 index, slipping 2.1% after the company rejected asecond takeover proposal from agrochemicals firm Monsanto.

However, shares in Deutsche Bank rose 7.2% after the company purged its leadership on Sunday, appointing Briton John Cryan as chief executive to replace Anshu Jain justtwo weeks after Jain was given more power to reorganise thebank.

"The changes had to be made. There may be some short-termvolatility with the share price but, all in all, it should be apositive for the stock," said JNF Capital investment manager Edward Smyth.