This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

European Stocks Rise as Focus Is on Upbeat Corporate News

Stocks in this article: TMUS SHPG ABBV C

LONDON ( The Deal) -- Markets in Europe and Asia were back in positive territory on Monday after last week's fears over the health of Portugal's Banco Espirito Santo were put to one side and investors focused on more upbeat company news.

In Japan, where the Nikkei 225 index closed up 0.88% at 15,296.82, a big market mover was telecoms group Softbank which has reached a basic deal to buy control of T-Mobile USA (TMUS) from its German parent Deutsche Telekom. Softbank plans to merge T-Mobile with its existing U.S. business Sprint (S). Together the two will have about 100 million U.S. subscribers, putting them in a stronger position to compete with Verizon Wireless and AT&T. Softbank closed up 2.26% at 7,649 yen. In Germany, Deutsche Telekom, which owns 67% of T-Mobile USA, was up 1.45% at 12.25 euros.

Airbus Group was up 1.56% at 47.84 euros after confirming at Britain's prestigious Farnborough Airshow that its new A330Neo model will be kitted out with more environmentally friendly Rolls-Royce Trent 7000 engines. Los Angeles-based Air Lease has signed a deal to buy 85 planes from Airbus, including 25 of the aircraft maker's new fuel-efficient, short-haul A330-990neo widebody planes. International Airlines Group, which owns British Airways and the Spanish airline Iberia, said BA will be buying 20 A320 aircraft fitted with new engine option.

Pharmaceuticals company Shire (SHPG) was up 2.67% at 50 pounds a share, after engaging in talks with U.S. bidder AbbVie (ABBV). Shire said for the first time Monday it was prepared to recommend the latest revised proposal to shareholders. It said AbbVie had upped its indicative cash and shares offer to 53.20 pence a share pounds, valuing Shire at 31.4 billion pounds ($53.75 billion) and giving Shire's shareholders a 25% stake in the combined company.

Meanwhile in Switzerland, chocolate maker Lindt & Sprungli said it will triple the size of its North America operations with the acquisition of privately held Russell Stover Candies.

European Union figures showing eurozone industrial production shrank 1.1% in May barely dented the market's enthusiasm, as the markets await more interesting news from U.S. quarterly earnings this week, starting with Citigroup (C) on Monday.

Even the volatile share of Banco Espirito Santo itself, which soared in early trading only to sink to sharply as the morning wore on, didn't stop the wider markets maintaining strength. By the end of the morning, Frankfurt's DAX was up 0.85% at 9,748, in Paris the CAC40 was up 0.6% at 4,343, and in London, the FTSE 100 was up 0.7% at 6,737.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs