(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. See the bottom of the report for more details)
* FTSEurofirst 300 up 0.3 pct
* Volkswagen rises after activist investor move
* Brenntag slumps after profit drop
MILAN, May 9 (Reuters) - European shares rose in early trading on Monday, helped by gains in German car maker Volkswagen.
Volkswagen rose 2.4 percent, topping gainers on Frankfurt’s DAX, after activist investor TCI demanded the German carmaker overhaul its “excessive” executive pay scheme as part of a plan to boost profits and end years of “mismanagement”.
The pan-European FTSEurofirst 300 index was up 0.3 percent by 0714 GMT.
Among top fallers, Brenntag fell 5 percent after reporting a 27 percent drop in first-quarter net profit due to a massive devaluation of the Venezuelan bolivar.
Today’s European research round-up
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). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.
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Mike Dolan, Markets Editor EMEA.
Reporting by Danilo Masoni