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European shares rise, Danone jumps after CEO ouster

Published 03/15/2021, 04:26 PM
Updated 03/15/2021, 04:30 PM
© Reuters.
STLAM
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ROG
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DANO
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GNMK
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STOXX
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SX3P
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SXAP
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SXTP
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STLAM
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 15 (Reuters) - European stocks rose on Monday on gains
in French food company Danone and Swiss drugmaker Roche Holding,
with optimism about a strong economic rebound calming concerns
about quickening inflation.
The pan-European STOXX 600 index .STOXX rose 0.7% in early
trading, inching closer a record peak set last year, with travel
and leisure .SXTP , automakers .SXAP and food & beverage
sectors .SX3P among the top gainers.
Danone DANO.PA jumped 4.9% after the company's board
ousted Emmanuel Faber as its chairman and chief executive due to
growing pressure from shareholders. Roche ROG.S rose 1% after it said it would buy GenMark
Diagnostics GNMK.O , a U.S.-based maker of molecular diagnostic
tests, in a $1.8 billion deal. Sentiment was also boosted by a surge in China's factory and
retail sector activity in the first two months of the year,
beating expectations, as the economy consolidated its brisk
recovery from the coronavirus paralysis of early 2020.
Milan-listed shares of carmaker Stellantis STLA.MI
STLA.PA gained 3.9% after Deutsche Bank started coverage with
"buy" rating.

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