European shares get tech support, Hexagon soars on M&A talk

  • Reuters
  • Stock Market News
European shares get tech support, Hexagon soars on M&A talk
Credit: © Reuters.

LONDON, June 14 (Reuters) - Recovering technology stocks gave European shares another leg up on Wednesday, while deal chatter sent Sweden's Hexagon soaring to a record high.

The pan-European STOXX 600 .STOXX benchmark and its euro zone counterpart .STOXXE rose 0.4 percent, in line with blue-chips .STOXX50E with broad investor focus on the U.S. Fed rate decision later in the day in which the bank is widely expected to raise rates.

In the U.K., the FTSE 100 .FTSE was little changed while midcaps .FTMC rose 0.6 percent.

Hexagon HEXAb.ST stole the limelight, jumping more than 16 percent to a new record high after a Wall Street Journal report that the Swedish measurement firm was in talks for a potential sale to undisclosed buyers. stocks .SX8P were the best-performing for the second session running, up 1.3 percent and clawing back after a nosedive fueled by jitters over valuations, particularly in the U.S.

Chipmakers Infineon IFXGn.DE , Dialog Semiconductor DLGS.DE and ASML ASML.AS all gained 1.2 to 1.5 percent.

British housebuilder Bellway BWY.L gained ground after its trading update showed robust demand for homes did not slow ahead of a national election on June 8. builder's upbeat tone also lifted peers Barratt Development BDEV.L and Taylor Wimpey TW.L .

And Italian banks maintained their strength with Banco BPM BAMI.MI was again among top Italian gainers after saying it would repurchase retail bonds from smaller Italian lenders for 123 million euros. Euronext ENX.PA fell to the bottom of the European index after BNP Paribas (PA: BNPP ) and Societe Generale (PA: SOGN ) sold shares in the firm for 45 euros per share. zone industrial production data later in the day will give investors a steer on the underlying health of the economy, while British wage growth and unemployment figures could add to evidence of a squeeze on Britons' paychecks.

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