European shares rise on Glencore and M&A hopes

jueves 1 de octubre de 2015 03:17 GYT

LONDON Oct 1 (Reuters) - European shares rose on Thursday, buoyed by a further rebound for mining and trading company Glencore after a painful sell-off earlier in the week and bid talk for German salt and fertilizer company K+S .

It was a different story for telecoms group Altice , which fell 5.9 percent after announcing a capital increase to help fund its takeover of Cablevision.

European stock markets were also supported by gains overnight on Asian and U.S. equity markets, with some traders viewing more weak Chinese data as a sign that China may undertake further measures to bolster the country's economy.

The pan-European FTSEurofirst 300 index rose 1.2 percent while the euro zone's blue-chip Euro STOXX 50 index advanced 1.1 percent.

Glencore rose 5.6 percent, boosted by an upbeat broker note on the company from investment bank Citi, while other mining stocks were also lifted by firmer metals prices.

K+S advanced 5.5 percent following a report of a new takeover approach from rival Potash. (Reporting by Sudip Kar-Gupta)