Dealmaking, Trump's health update boost European stocks

  • Reuters
  • Stock Market News
Dealmaking, Trump's health update boost European stocks
Credit: © Reuters.

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Oct 5 (Reuters) - A spate of dealmaking activity lifted European stocks in early trade on Monday along with an upbeat global mood on positive updates of U.S. President Donald Trump's health.

The pan-European STOXX 600 index .STOXX rose 0.7% by 0717 GMT, adding to a near-2% gain last week.

Oil majors Royal Dutch Shell RDSa.L , BP BP.L and Total TOTF.PA gained nearly 2%, with crude prices climbing after an easing of the worst fears about Trump's health condition and an expanding workers' strike in Norway, Western Europe's largest oil producer. O/R bank Unicaja UNI.MC gained 6.0% after a source told Reuters that it and Liberbank LBK.MC were holding informal talks about a potential tie-up to create the country's fifth-biggest lender. fertiliser group K+S SDFGn.DE jumped 13.5% after Bloomberg reported it was in advanced talks to sell its Morton Salt unit to Kissner Group for about $3 billion. DUFN.S surged 12.2% after it revealed that China's Alibaba (NYSE: BABA ) BABA.N planned to acquire a stake of up to 9.99% in the Swiss duty free group. Weir Group Plc WEIR.L rose 17.7% to the top of STOXX 600 .STOXX as it had agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar (NYSE: CAT ) CAT.N for $405 million.

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