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EU: Shares up on fresh M&A deals

By  |  July 26, 2013
EU: Shares up on fresh M&A deals

European shares spiked to levels that reached a near two-month high on Friday following recent merger and acquisition activity, a trend some analysts expect to continue. The FTSEuroFirst 300 index rose .2 percent to 1,2111.96 points, while Euro STOXX 50 index reached .6 percent higher at 2,756.92 points. One Paris-based trader said the positive sign may be due in part to mergers, as traders will become attracted to companies likely targeted by merger deals. France’s Vivendi, which recently announced plans to divest 85 of its Activision share, is one example, the trader said.

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