European shares surge to two-month highs on M&A activity; traders eye US consumer sentiment data
Trading Floor News July 26, 2013 6:24 PM
<p>Fresh signs of increased merger and acquisition activity sent European shares heading back towards two-month highs on Friday, with some traders seeing more gradual gains […]</p>
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Fresh signs of increased merger and acquisition activity sent European shares heading back towards two-month highs on Friday, with some traders seeing more gradual gains for equities in the near term. The DAX was at 8305 and the CAC at 3986.
UK shares were higher in early trading following a number of well received company results, with the FTSE trading at 6602 +14. Publishing group Pearson rose 4% and gas and oil producer BG Group climbed 1.7% – both reporting better than expected profits. Shares in satellite broadcaster BSkyB fell 2.4% despite reporting a rise in full-year profits.
Last night the Dow Jones closed at 15555, up 13 points, having shrugged off early losses. Facebook surged 30% after a blowout earnings report helped drive gains in the Nasdaq.
We are quiet today in terms of economic data, but at 2.55pm we have the US Revised UoM consumer sentiment forecast at 84.
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