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European shares inch higher with focus on UK M&A, Credit Suisse slips

Stock MarketsJan 17, 2022 10:08
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2/2 © Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 14, 2022. REUTERS/Staff 2/2

(Reuters) - European stocks edged higher on Monday, with deal talks related to British consumer companies boosting the bluechip FTSE 100, while shares in Credit Suisse (SIX:CSGN) slipped after the Swiss bank's chairman quit following an internal probe into his personal conduct.

The pan-European STOXX 600 index rose 0.2% by 0806 GMT, with Asian markets choppy after China's central bank cut some key lending rates after mixed economic data, while a U.S. holiday made for thin trading. [MKTS/GLOB]

China-exposed miners and healthcare stocks were the top sectoral gainers in Europe, up about 0.8% each.

Lifting UK's FTSE 100, GlaxoSmithKline (NYSE:GSK) jumped 5.2% after it confirmed over the weekend that it had rejected Unilever (NYSE:UL)'s 50-billion-pound offer for its consumer healthcare business.

Unilever slid 5.2% after it signalled on Monday it would pursue the deal, calling it a "strong strategic fit".

Credit Suisse slipped 1.1% after Chairman Antonio Horta-Osorio quit following an internal probe into his personal conduct, including breaches of COVID-19 rules.

European shares inch higher with focus on UK M&A, Credit Suisse slips
 

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