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

by Mike Robinson

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© Reuters. FILE PHOTO : A graph showing the German share price index DAX can be seen at Frankfurt’s stock exchange on January 14, 2022. REUTERS/Staff

(Reuters) – European stock prices edged higher Monday due to deal discussions related to British consumer businesses boosting the bluechip, and shares in Credit Suisse (SIX) fell after the chairman of the Swiss bank resigned following an investigation into his conduct.

Pan-European Index rose 0.2% to 0806 GMT. Asian markets are choppy following China’s central Bank cutting key lending rates. This was despite mixed economic data. Thin trading occurred due to the U.S. holiday. [MKTS/GLOB]

China-exposed healthcare stocks and miners were Europe’s top gainers, with an average 0.8% increase.

GlaxoSmithKline (NYSE ) jumped 5.2% to lift UK’s FTSE100 after it revealed over the weekend it rejected Unilever (NYSE )’s offer of 50 billion pounds for its consumer health business.

Unilever fell 5.2% Monday after it indicated that it will pursue the deal.

Credit Suisse fell 1.1% following the resignation of Chairman Antonio Horta Osorio. This was after an internal investigation into his conduct and breaches COVID-19 regulations.

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