European shares rise led by defensive stocks, telecoms slump

lunes 4 de abril de 2016 06:11 GYT

* Pan-European FTSEurofirst 300 index up 1 pct

* European telecom shares under pressure

* Orange, Bouygues slump after deal failure

* Utilities, healthcare stocks lead gainers (Emea-mpg(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. Adds details, updates prices))

By Atul Prakash

LONDON, April 4 (Reuters) - European shares bounced back from one month lows on Monday, led higher by gains in defensive stocks, but telecoms fell after talks between Orange and Bouygues on creating a dominant French operator collapsed.

Shares in French group Bouygues slumped almost 15 percent to 30 euros and were heading for their worst day in 17 years.

The STOXX Europe 600 Telecommunications index was down 0.3 percent after hitting a one-month low following the failure on Friday of the proposed 10 billion euro cash-and-share deal.

Orange was down 4.2 percent. Other French telecom firms also dropped sharply, with Iliad, SFR and Altice all down by more than 14 percent.   Continuación...