M&A helps European shares sail through Russian jitters
(Updates prices at settle)
* FTSEurofirst 300 up 0.3 pct, Euro STOXX 50 up 0.6 pct
* AstraZeneca rallies 14.4 pct as Pfizer says to buy firm
* Bayer jumps after posting forecast-beating results
* Western sanctions against Russia keep markets anxious
By Blaise Robinson and Francesco Canepa
PARIS/LONDON, April 28 (Reuters) - European stocks ended slightly higher on Monday as merger and acquisition moves in pharmaceuticals and strong results from Germany's Bayer outweighed anxiety over new Western sanctions against Russia.
Shares in AstraZeneca rallied 14.4 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 increased the group's market capitalisation by roughly 7.4 billion pounds, or $12.44 billion.
"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...