Corporate movements in the U.S. have taken the Ibex 35 after few bad sessions to new highs of the year.
Mergers and acquisitions are starting to gradually return to markets. They seem to become the driving engines of the global stock markets. European equities started the week with good footing and the FTSE closed at 11,891.2 points upward in the wake of Wall Street.
Today's Xerox and Abbott deals, netting 13 billion dollars in mergers and acquisitions are boom to financial advisers.
According to Marketwatch "Financial stocks are getting a shot in the arm Monday as a recent flurry of mergers worth $13 billion were announced, in transactions that should make the industry hundreds of millions of dollars in fees. Stocks of smaller firms playing a greater role in the business also gain." Xerox said it will acquire Affiliated Computer Services and Abbott Laboratories said early Monday that it has agreed to buy Belgium conglomerate Solvay SA's pharmaceutical unit for 4.5 billion euros.
In the currency markets the euro was lower today at the Frankfurt foreign exchange market and was changed to $ 1.4633, up from $ 1.4688 Friday. The European Central Bank (ECB) today set the official euro exchange at $ 1.4650.
Written by Armen Hareyan
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
