AstraZeneca jumps, helping Europe stocks bounce back

lunes 28 de abril de 2014 04:34 GYT
 

* FTSEurofirst 300 up 0.4 pct, Euro STOXX 50 up 0.5 pct

* AstraZeneca stock jumps 15 pct as Pfizer says to buy firm

* Bayer rallies after posting forecast-beating results

By Blaise Robinson

PARIS, April 28 (Reuters) - European stocks rose on Monday, as gains in the pharma sector driven by merger moves and forecast-beating results from Germany's Bayer outweighed the impact of tensions in Ukraine.

Shares in AstraZeneca surged 15 percent after U.S. rival Pfizer said it wanted to buy the British drugmaker in a deal potentially worth more than $100 billion.

The sharp jump in the stock represented a rise in the group's market capitalisation of roughly 7.7 billion pounds, or $13 billion.

Shares in German conglomerate Siemens dropped 2.3 percent after the group said it was mulling an asset swap with France's Alstom, which has received an offer for its power arm from U.S. bellwether General Electric.

"Thanks to central banks' massive (provision of) liquidity, a lot of companies are now looking for takeover targets across the board, which is very positive for the market," said Lionel Jardin, head of institutional sales at Assya Capital, in Paris.   Continuación...