Europe open: Stoxx up with Mediobanca Generali bid in focus
By Frank Prenesti
Date: Monday 28 Apr 2025
(Sharecast News) - European shares made a strong start to the first session of the week as investors awaited a raft of quarterly corporate earnings, while Italy's Mediobanca on Monday unveiled a €6.3bn bid for rival Banca Generali.
The pan regional Stoxx 600 index was up 0.41% in early deals, with Germany's DAX up 0.34% and France's CAC-40 rising 0.5%.
Sentiment was also boosted by an announcement from Zhao Chenxin, vice-chair of China's National Development and Reform Commission, who said he was "fully confident" that the world's second-largest economy would achieve its economic growth target of around 5% this year despite the impact of US trade tariffs.
"A mood of cautious optimism is hovering around European markets, despite the uncertainty surrounding US trade policy the effect on the global economy," said Hargreaves Lansdown analyst Susannah Streeter.
"Expectations are growing for more interest rates cuts from the People's Bank of China in the coming months, with other stimulus moves also on the table to support consumers and businesses."
"President Donald Trump is preparing to rally his 'maga-faithful' this week as he celebrates his 100 years in office in his second term. The crucial first 100 days of this presidency have notched up some shocking economic scores on the doors of the White House."
"He's already presided over an equity market meltdown, a mega bond strop out, and a sharp slide in the dollar. He's picked trade fights with long-time allies, slapped irrational duties on unpopulated islands, and ratcheted up an economic war with China."
In equity news, Mediobanca launched its bid for Banca Generali in a move to expand its wealth management division. Shares in its target surged 6% on the news.
Mediobanca said it would fund the deal by selling its 13% stake in Assicurazioni Generali, which is the country's largest insurer, in an exchange offer worth €54.17 a share, an 11.4% premium to Banca Generali's last close.
The offer adds to a list of takeovers in Italy's banking sector. Mediobanca is itself subject to a hostile bid from Banca Monte dei Paschi di Siena, while UniCredit is trying to buy smaller rival Banco BPM, which in turn is trying to snare Anima Holding.
Shares in Delivery Hero gained on the back Doordash's $3.6bn bid for Deliveroo.
Vivendi gained after reporting that the net asset value of its investments grew 7.8% to €5.2bn as of March 31 from the three months to December 31, as it published quarterly revenues for the first time since its breakup.
Reporting by Frank Prenesti for Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN