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European stocks climbed caused by mergers and acquisitions plans of some companies in the pharma sector. Pfizer has renewed its offer for AstraZeneca. A worth of the deal could be more than $100 billion.
Investors still monitor tensions between Russia and Ukraine. New sanctions on Russia are expected.
AstraZeneca shares were up 15% because of the renewed offer of Pfizer.
Bayer AG shares jumped 4.6% caused by the better-than-expected first quarter earnings.
Siemens AG shares declined 2.2% after announcing the plan to buy Alstom. The Siemens’ plan is an asset swap. Siemens wants to acquire Alstom’s power and grid business in exchange for its transport assets and some cash. Alstom shares are suspended until Wednesday.
Name Price Change Change %
FTSE 100 6,703.51 +17.82 +0.27%
DAX 9,474.39 +72.84 +0.74%
CAC 40 4,462.75 +19.12 +0.43%
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