M&A, car sales help European shares to new 8-year high

jueves 9 de abril de 2015 07:22 GYT
 

* FTSEurofirst 300 hits highest since July 2007

* M&A speculation boosts media, luxury stocks

* Auto sector rises on strong sales data

By Francesco Canepa and Blaise Robinson

LONDON/PARIS, April 9 (Reuters) - European shares rose on Thursday on the back of figures showing a strong recovery in Europe's auto sector, robust German data and takeover speculation in the media and luxury sectors.

British luxury goods maker Burberry was the top riser on the pan-European FTSEurofirst 300 index, adding 3.7 percent after positive numbers from Mulberry and talk of consolidation in the sector.

Goldman Sachs added Burberry to its list of "conviction buy" shares for which the probability of a bid is 30 percent or more.

Norwegian publishing firm Schibsted, also added to the Goldman, climbed 4.4 percent, while Italian media group Mediaset rose 3.2 percent after Mediobanca flagged it as a bid target for France's Vivendi.

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