Europe open: Stocks rise as Siemens deal boosts German DAX
By Frank Prenesti
Date: Monday 23 May 2022
(Sharecast News) - European stocks opened the week strongly as investors shrugged off inflationary worries that have underpinned sentiment in recent weeks.
The pan-European Stoxx 600 was up 1.13% in early deals after a mixed session in Asia. US stock futures rose sharply in early premarket trade on Monday.
Germany's DAX was up by 1.27% on news Siemens Energy had offered to buy all outstanding shares of the renewables firm Siemens Gamesa for €4.06bn.
Shares in drug maker Idorsia were also up after its blood pressure drug reported positive trial results.
Kingfisher shares rose after the B&Q owner unveiled a surprise £300m share buyback alongside Q1 results showing a rise in like-for-like sales over pre-pandemic levels.
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