During what was a generally quiet session for European economic data and corporate earnings news, most European benchmark indices rose on Monday as tensions eased mildly after Friday's terrorist attack in France.
The U.K.'s FTSE 100 and FTSE 250 outperformed their continental cousins after inbound M&A activity boosted the tech sector in London.
The headline event during the session was the recommendation from the board of chip designer, ARM Holdings (ARMH) , that shareholders accept a proposed offer from Japan's SoftBank (SFTBF) . SoftBank offered 1,700.0 pence per ($32.1 billion) for the Cambridge, England-based firm, which values the company at a 43% premium to the undisturbed share price of Friday of 1,184.0 pence.
The FTSE 100 index drew support from the announced takeover of ARM, helping it to rise by 0.39% to close at 6,695.42. It also benefited from buoyant house building and construction materials sectors.
Despite a strong performance from the FTSE 100, the domestically focused FTSE 250 stole the show in Europe on Monday, after rising by 1.1%, ending the day at 16,867.66. Topping the leaderboard was cybersecurity firm Sophos Group (SPHHF) , whose shares rose by 6.9%, to trade as high as 230.0 pence.
Clothing and accessories firm, Supergroup, (SEPGF) also rose sharply during the session, with the share closing 6% higher at 1,607.0 pence.
In France the CAC 40 closed 0.34% lower, closing at 4,357.74. Topping the board for the session were industrial giants Arcelormittal (MT - Get Report) , Peugeot (PEUGF) and Valeo (VLEEY) , but strong performances from these firms were offset by weakness in resources and telecoms.
Arcelor gained 1.5% to close at €5.21 ($5.77) and Peugeot gained 1.8% to close at €12.10. Valeo gained 1.9% to close at €42.36. However, losses for the likes of Total (TOT - Get Report) , Orange (ORAN) and Nokia (NOK - Get Report) meant that the index could do little to avoid another run in with the red ink.
Total stock fell by 0.94% to close at €43.55 and Orange fell by 0.85% to close at €14.52. Nokia closed 0.7% lower at €5.31.
In Germany the DAX closed a fraction of a percent lower, around 0.04% at 10,063.13. However, there were some firms that gained during the session.
At the top of the German leaderboard was Infineon Technologies (IFNNY) , which rose by almost 2.5% to trade at €13.90, after riding along on the coattails of U.K. listed tech firms who were boosted by takeover activity in the sector today.
In Spain the IBEX 35 closed lower by almost half a percent, with underperformance from heavyweight banking firm Banco Bilbao Vizcaya Argentaria (BBVA) and Repsol (REPYF) offsetting gains elsewhere across the index. Banco Bilbao shares fell by 2.2% to close at €5.25 while Repsol stock fell by a lesser 0.3% to close at €12.11.