Europe open: Shares rise on Dialog Semi deal, US stimulus hopes

by | Feb 8, 2021

European shares started the week higher, boosted by a 4.9bn offer for Dialog Semiconductor and continuing optimism over the US Covid stimulus package successfully navigating Congress.
The pan-European STOXX 600 index rose 0.37%, with all major Continental bourses higher. Italy’s FTSE MIB outperformed with a 1.1% rise as Mario Draghi secured initial support from two key parties in his efforts to form a unity government.

Investors were also monitoring the $1.9trln Covid-19 US aid package, which was expected to be passed by lawmakers as soon as this month.

They had also appeared to shrugged off the spread of various covid variants and concerns over the efficacy of AstraZeneca’s vaccine against a South African strain of the virus.

In equity news, shares in German computer chip maker Dialog Semiconductor soared 16% after it agreed a takeover by Japan’s Renesas Electronics Corp.

Italian banks were higher on hopes of political stability, with UniCredit and Banco BPM up more than 4%.

Rolls-Royce was under pressure on news it is temporarily closing its jet engine factories for two weeks this summer as it moves to save cash amid the coronavirus pandemic.

Experian was in the red after the credit-checking firm said it is carrying out a forensic investigation following media reports of a data breach involving its Serasa business in Brazil, but that there is no evidence its technology systems have been compromised.

(Michele Maatouk contributed to this report)

Related articles

Europe midday: Shares slip into red on Middle East tensions

Europe midday: Shares slip into red on Middle East tensions

(Sharecast News) - European shares fell into the red on Wednesday as Middle East tensions were ratcheted up after the assassination of the Hamas deputy leader Saleh al-Arouni in Lebanon, raising fears of retaliation by the Islamic group Hezbollah against Israel. The...

Europe open: Shares edge ahead as Middle East tensions weigh

Europe open: Shares edge ahead as Middle East tensions weigh

(Sharecast News) - European shares edged ahead in a cautious start to trade on Wednesday as Middle East tensions were ratcheted up after the assassination of the Hamas deputy leader Saleh al-Arouni in Lebanon, raising fears of retaliation by the Islamic group...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x