Europe Stocks Rise for 2nd Day as Cable & Wireless Jumps on Deal

European shares rose the most in three weeks, shrugging off any lingering concerns about the geopolitical impact of the attacks in Paris.

Cable & Wireless Communications Plc jumped 5.1 percent after Liberty Global Plc agreed to buy it. A gauge of energy shares posted the biggest advance among European industry groups, tracking a rebound in U.S. peers yesterday. Tullow Oil Plc and Royal Dutch Shell Plc climbed 2.5 percent or more.

The Stoxx Europe 600 Index added 1.4 percent at 8:15 a.m. in London, as all 19 industry groups advanced. Europe’s benchmark gauge fluctuated yesterday in the aftermath of terror attacks in Paris, before closing 0.3 percent higher.

A report today will show German investor confidence rose this month from the earlier period, economists forecast in a Bloomberg survey.

Among other shares active on corporate news, Genmab A/S surged 11 percent after a drug it’s developed with Johnson & Johnson won approval to treat a deadly blood cancer. Genmab will get a $ 45 million payment from J&J because of the decision.

EasyJet Plc lost 3.1 percent after posting sales that missed analysts’ estimates and forecasting a drop in revenue per seat in the first half of next year.

The Stoxx 600 rebounded 12 percent from a September low through Nov. 4, before giving up some gains amid questions over weak economic figures and speculation of higher U.S. borrowing costs.

Source : Bloomberg

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