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London - European equities resumed their rise after their rally stalled in the past two sessions.
William Hill jumped 9.6% as 888 Holdings and The Rank Group are considering a joint takeover offer for the bookmaker. Ryanair climbed 5.7% after it maintained its forecast. Ericsson increased 5.3% as its chief executive officer stepped down after more than six years at the helm of the Swedish telephone-equipment maker.
Almost all industry groups in the Stoxx Europe 600 Index gained, with the gauge advancing 0.2% at 09:22.
European stocks are hovering around a one-month high after they recovered most of their losses since the UK vote to leave the European Union. The Stoxx 600’s rebound, however, has stalled in recent days amid mixed reports on the services and manufacturing industries and corporate earnings.
After pumping more money into the region’s equities than any time in history, global fund managers have become underweight the shares for the first time in three years, even with valuations that look appealing versus government debt and US stocks.
Among other companies moving on corporate news, Julius Baer rose 1.3% after Switzerland’s third-largest wealth manager reported a rise in first-half profit that beat expectations.
