German mergers and acquisitions boost European indices

German mergers and acquisitions boost European indices The FTSEurofirst 300 index rose 0.24 percent to 1,483 points, while the pan-European STOXX 600 index gained 0.25 percent to 379 points. European equity markets peaked in nearly two weeks on Monday, fueled by gains in German public services after key players announced a major industry reform. Actions related to public services in other countries have increased in the face of optimism with new mergers and acquisitions in the sector.

The FTSEurofirst 300 index rose 0.24 percent to 1,483 points, while the pan-European STOXX 600 index gained 0.25 percent to 379, the highest level since February 28. The utility index jumped 1.1 percent, leading gains across Europe.

There was little economic data during the session and investors await inflation figures in the United States on Tuesday to assess the speed at which the Federal Reserve will raise the interest rate in the United States this year. Shares of Innogy led the market with a 12 percent rise after parent company RWE and rival E.ON to say that they will fragment Germany’s largest energy company by market value and will split its assets. RWE and E.ON posted the second and third largest gains, up 9.2 and 5.3 percent, respectively.

The auto index rose 0.4 percent, ignoring a tweet by US President Donald Trump, threatening to impose taxes on imported European vehicles to the US if the European Union retaliates against steel tariffs. In LONDON, the Financial Times index fell 0.13 percent to 7,214 points. At FRANKFURT, the DAX index rose 0.58 percent to 12,418 points. In PARIS, the CAC-40 index gained 0.04 percent to 5,276 points. In MILAN, the Ftse / Mib index increased 0.08 percent to 22,764 points. In MADRID, the Ibex-35 index rose 0.43 percent to 9,727 points. In LISBON, the PSI20 index appreciated 0.27 percent to 5,438 points.

Source: information contained in this post were disclosed by Exame.Abril

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