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Europe close: Shares start week on the front foot
(Sharecast News) - European shares were up on Monday after strong performances on Wall Street and Asia. Mergers and acquisitions news also helped, with shares in Swedish gambling group Kindred surging on news of a €2.6bn bid from France's FDJ.
"Last week's momentum has carried over into Monday's session, and investors appear unperturbed by the prospect of an avalanche of earnings heading their way," said IG chief market analyst Chris Beauchamp.
"Stocks have once again defied the doubters by moving higher, after their brief outbreak of worry about the path of interest rates in the US and elsewhere."
The pan-European Stoxx 600 was up 0.77% at 472.86 with all major regional bourses higher alongside.
Italy's FTSE Mib was the exception, drifting lower by 0.33% to 30,182.32.
Kindred Group, which operates the Unibet and 32Red brands, surged more than 16% after La Française des Jeux (FDJ) launched an all-cash tender offer, of 130 Swedish crowns a share - a 24% premium over the closing price on January 19.
FDJ shares were up by over 6% on the news.
Swiss heating and ventilation business Belimo fell 8% after reporting that 2023 revenues came in below estimates.
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