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European Stocks Rise on Earnings, M&A Momentum

7/29/15 7:52 AM EDT
European stocks rose Wednesday, driven by a fresh batch of earnings and continued m&a deal momentum. Luxury-goods maker LVMH rose in Paris on better than expected first-half results. In Milan, Italcementi rose as investors cheered a takeover offer from Germany’s HeidelbergCement to create the global leader in aggregates and the No. 2 player in cement. Solvay fell in Brussels after an initial spike on its first big-ticket acquisition in years, an agreement to buy New Jersey-based Cytec Industries for an enterprise value of $6.4 billion. And in Amsterdam, Dutch phone company Royal KPN rose after posting quarterly earnings above estimates.
Stocks in this video: CYT
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