M&A helps keep European stock rally alive

viernes 2 de mayo de 2014 10:59 GYT
 

* FTSEurofirst 300 up 0.1 pct, up 1.7 pct on week

* Deutsche Telekom, Bouygues, Iliad up on M&A talk

* More than $312 billion in European M&A year-to-date

* Europe stocks enjoy further inflows from U.S. funds

By Blaise Robinson

PARIS, May 2 (Reuters) - European stocks gained on Friday, fuelled by takeover activity, as M&A speculation spread to the telecoms sector.

Deutsche Telekom was the top gainer among European blue-chips. It rose 1.9 percent on talk Sprint Corp has approached banks to work out funding for its bid for T-Mobile US Inc, which is majority-owned by the German telecom operator.

At 1418 GMT, the FTSEurofirst 300 index of top European shares was up 0.1 percent at 1,355.99 points. The benchmark index was set to post a weekly gain of 1.7 percent.

"The flurry of recent deals show a swing in sentiment from company managers. The fact that they are starting to buy means they have better visibility on the economy," said David Thebault, head of quantitative sales trading at Global Equities.   Continuación...