Publications
Partners
Madrid - A surge in ARM Holdings after a deal announcement pushed the industry higher, helping European equities climb.
ARM jumped 46% after SoftBank Group agreed to buy the chip designer for £24.3bn. Peers Dialog Semiconductor also rose. Miners were the only industry group in the Stoxx Europe 600 Index to fall as commodities slipped.
The Stoxx 600 climbed 0.6% at 8:16 a.m. in London after posting a second weekly gain in three. Speculation that central banks will limit the fallout of Britain’s vote to leave the European Union has helped the index recover most of its losses since the referendum, closing on Friday 2.4% away from its June 23 level.
The UK’s FTSE 100 Index, on the other hand, has recovered thanks to a weakening of the pound, and was 5.2% above it, trading near its highest level since August of last year. It gained 0.5% on Monday.
Italy’s FTSE MIB Index gained the most in western Europe, up 0.8% as its lenders advanced. Gauges of Portuguese and Spanish equities advanced more than 0.7%, while Germany’s DAX Index also added 0.8%.
Ericsson AB dropped 2.9% after newspaper Svenska Dagbladet said the the company may be reporting inflated revenue, without saying where it got the information. Hapag-Lloyd tumbled 10% after saying it sees an earnings slide for 2016.
Marine Harvest 2.4% after saying it projects a lower harvest volume.
