This Day On The Street
Continue to site
ADVERTISEMENT
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

European Stocks Rise as Focus Is on Upbeat Corporate News

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 - Get Report) 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 - Get Report) was up 2.67% at 50 pounds a share, after engaging in talks with U.S. bidder AbbVie (ABBV - Get Report). 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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ABBV $65.48 0.00%
SHPG $260.11 0.00%
TMUS $36.68 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs