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European stocks rise with a focus on UK M & A, Credit Suisse slips by Reuters

© Reuters. File Photo: The German Stock Index DAX Graph was taken on January 14, 2022 on the Stock Exchange in Frankfurt, Germany. REUTERS / Staff

By Sruthi Shankar

(Reuters)-European stocks rose on Monday, trading negotiations were held to boost good stocks by British consumer companies, and Swiss bank stocks Credit suisse (SIX :) Slip after the chair resigned following an internal investigation into his personal behavior.

The Pan-European index rose 0.8% and the Asian market became volatile after China’s central bank lowered some major lending rates after mixed economy data. [MKTS/GLOB]

Media, technology and retail stocks rose 1.1% to 1.6%, marking the top rise in the European sector.

GlaxoSmithKline (NYSE :), which raised the UK’s FTSE 100, surged 4.4% after confirming that it had rejected a £ 50 billion offer to Unilever’s (NYSE :) consumer healthcare business over the weekend.

After suggesting pursuing a deal on Monday, Unilever slid 6.5% to touch the March 2020 lows, calling it a “strong strategic fit.”

“The negative stock price reaction reflects investor concerns that Unilever could come back with higher offers and make larger payments,” said Russ Mold, investment director at AJ Bell. I think there is. “

Credit Suisse, meanwhile, fell 1.4% after President Antonio Horta Osorio resigned after an internal investigation into his personal behavior, including a violation of the COVID-19 rule.

New Chairman Axel Lehmann said Credit Suisse will stick to a strategic review despite the withdrawal of Alter Osorio. Greensill Capital.

Europe’s wider banking index rose 0.4%.

“We see the resignation as a negative consequence for Credit Suisse,” said an analyst at JP Morgan (NYSE :). “The company has shown that it will continue to implement its strategy, but believes that continued sales due to management changes will bring additional uncertainty.”

European equities hit a record high at the beginning of the year, but trading recently hit a turbulent patch as investors priced aggressive tightening of US monetary policy.

Sabadell rises 2.7% after HSBC upgrades shares from “hold” to “buy” as securities firms see Spanish lenders’ return on equity improving at a faster pace than their peers Did.

EDF (PA :) fell 1.7% and HSBC downgraded shares in a French power company, resulting in higher losses after a 15% fall on Friday.

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European stocks rise with a focus on UK M & A, Credit Suisse slips by Reuters

https://www.investing.com/news/stock-market-news/european-shares-inch-higher-with-focus-on-uk-ma-credit-suisse-slips-2740278 European stocks rise with a focus on UK M & A, Credit Suisse slips by Reuters

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