European shares close higher on mergers and acquisitions news

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European shares closed higher on Monday, with health care stocks supported by merger and acquisition talks, while shares of Credit Suisse bank fell after its chairman resigned following an internal investigation into his personal conduct. .

The pan-European STOXX 600 index rose 0.70% to 484.51 points. Health stocks provided the biggest support for the index after losing more than 2% last week.

GlaxoSmithKline jumped 4.1% after confirmation over the weekend that the British drugmaker had rejected a £50bn offer from Unilever for its consumer health business.

Unilever shares tumbled 7.0% to lows since March 2020 after the company signaled on Monday it would go ahead with the deal, which it said represented a “strong strategic fit”.

“The negative stock price reaction likely reflects investor fears that Unilever will come back with a higher offer and potentially pay too much,” said Russ Mold, chief investment officer at AJ Bell.

Meanwhile, Credit Suisse shares fell 2.3% after chairman António Horta Osório left office in the wake of an internal investigation, including Covid-19 rule violations.

In LONDON, the Financial Times index advanced 0.91% to 7,611.23 points.

In FRANKFURT, the DAX index rose 0.32% to 15,933.72 points.

In PARIS, the CAC-40 index gained 0.82% to 7,201.64 points.

In MILAN, the Ftse/Mib index appreciated by 0.52%, at 27,688.56 points.

In MADRID, the Ibex-35 index registered an increase of 0.36%, to 8,838.70 points.

In LISBON, the PSI20 index depreciated by 0.04%, to 5,634.78 points.

Reference: CNN Brasil

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