European Stocks Finish Mixed
European stock markets closed mixed on Monday.
London's Financial Times-Stock Exchange 100 index rose 5.80 points, or 0.11%, to 5,318.40.
Among stocks on the move, Vodafone rose after the company purchased 20.5 million of its own shares at an average price of 150.7 pence. BAE Systems rose on FT story saying the company is looking to sell German marine electronics unit. O2 Plc rose as CSFB says Deutsche Telekom is likely to produce single takeover bid for company. Royal Dutch Shell rose after the company said it bought back 2 million of its class A shares. Smith & Nephew rose on a report saying a U.S. panel of advisers will review its newest hip implant device two months earlier than some analysts had expected.
Germany's DAX index went up 11.78 points, or 0.24%, to 4,941.69.
Commerzbank rose on speculation Royal Bank of Scotland Group may bid for the German lender. Orbis rose after the company posted a profit for the first half. Syzygy rose after the company said second-quarter profit rose 19%. ThyssenKrupp rose after CSFB raised its recommendation on the shares to neutral from underperform. TUI fell on news the company plans to make an offer for U.K.-based CP Ships.
In Paris, the CAC 40 index fell 1.96 points, or 0.04%, moving to 4,485.94.
Sanofi-Aventis rose amid reports the company's Taxotere drug is more effective than Bristol Myers Squibb's Taxol in treating advanced cases of breast cancer. Group Danone rose on renewed rumors PepsiCo might make a takeover bid. Technip rose after Goldman Sachs said shares of the company may rise 15% through 2006.
Asian markets finished higher Monday.
Japan's Nikkei 225 index added 160.78 points, or 1.31%, to reach a four-year high of 12,452.51, on optimism toward economic growth, according to Standard & Poor's MarketScope. Mizuho Financial surged 6.25% and Mitsubishi Tokyo Financial Group rose 3.7%.
In Hong Kong, the Hang Seng index gained 180.02 points, or 1.20%, to 15,218.63. Among the gainers, China Mobile rose 3.7% and oil group CNOOC gained 2.73%.