European Stocks Rise on Earnings, M&A Momentum

European stocks climbed Wednesday in midday trading, driven by a fresh batch of earnings and continued M&A deal momentum.
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European stocks climbed Wednesday in midday trading, driven by a fresh batch of earnings and continued M&A deal momentum. Luxury-goods maker LVMH rose in Paris on better than expected results in the first half of the year. In Milan, Italcementi rose as investors cheered a takeover offer from Germany’s HeidelbergCement to create a global leader in aggregates and the number two player in cement. Solvay shares declined in Brussels after an initial spike after making 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.