European shares rise led by defensive stocks, telecoms slump

lunes 4 de abril de 2016 10:39 GYT

* Pan-European FTSEurofirst 300 index up 0.6 pct

* Telecom plungh as Orange, Bouygues deal fails

* Healthcare, utilities stocks lead gainers

* Lower banks weigh on Italy blue chip index (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)

By Atul Prakash and Danilo Masoni

LONDON/MILAN, 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 more than 15 percent to below 30 euros and were on course for their worst day in 17 years.

The STOXX Europe 600 Telecommunications index was down 1.2 percent at one-month lows following the failure late on Friday of the proposed 10 billion euro cash-and-share deal.

Orange was down 6.4 percent. Other French telecom firms also dropped sharply, with Iliad, SFR and Altice all down by 13 and 17 percent.   Continuación...