Europe shares rise as FedEx/TNT bid feeds M&A fever

martes 7 de abril de 2015 07:03 GYT
 

* FTSEurofirst 300 up 1.3 pct in early trade

* France's CAC, Italy's MIB, Spain's IBEX hit multi-year highs

* Euro zone manufacturing data boosts sentiment

By Francesco Canepa and Blaise Robinson

LONDON/PARIS, April 7 (Reuters) - European shares rose on Tuesday as FedEx's 4.4 billion euro ($4.8 billion) bid for Dutch package delivery firm TNT Express prompted a rally in the shares of other postal companies.

TNT stock jumped 30 percent, while PostNL -- TNT's largest shareholder, which has said it would tender its 14.7 percent stake in the FedEx offer -- surged 13 percent. Royal Mail, Deutsche Post and Kuehne & Nagel gained 1.5-2.7 percent.

Signs that corporate takeover activity was on the rise were also highlighted by French media group Vivendi's offer to buy Orange's video-sharing website Dailymotion, with the two stocks gaining 1.2 percent and 0.9 percent respectively.

At 1053 GMT, the FTSEurofirst 300 index of top European shares was up 1.3 percent at 1,607.89 points, tracking a rally on Wall Street after Friday's surprisingly weak U.S. jobs data sparked expectations the Federal Reserve could hold off longer on raising interest rates.

France's CAC 40, Spain's IBEX and Italy's MIB were up 0.9-1.3 percent, all hitting fresh multi-year highs.   Continuación...