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European stocks were up today. The significant event was a deal between GlaxoSmithKline Plc and Novartis AG. Novartis AG agreed to buy Glaxo’s cancer-drug business. The better-than-expected consumer confidence in the EU had also a positive influence on stock markets. The value of consumer confidence in March was -8.7 (forecast: -9).
GlaxoSmithKline Plc climbed 5.4%. Novartis AG shares rose 2.5%.
AstraZeneca shares increased 5.0%, caused by rumours about a potential AstraZeneca acquisition by Pfizer.
Philips shares dropped 4.5% after the publication of the weak first quarter results.
Telenor ASA shares - Norwegian telecommunications operator – rose 4.5%. The reason for the increase is the deal of VimpelCom Ltd. VimpelCom Ltd. wants to sell a majority stake in its Algerian unit Djezzy. The deal will provide $ 4 billion in cash. Telenor is the owner of a 33.1 percent stake in VimpelCom.
Name Price Change Change %
FTSE 100 6,681.76 +56.51 +0.85%
DAX 9,600.09 +190.38 +2.02%
CAC 40 4,484.21 +52.40 +1.18%
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