European stocks rose the most in seven weeks as health-care companies lead gains amid mergers and acquisitions activity.GlaxoSmithKline Plc rose 5.2 percent after Novartis AG agreed to buy the U.K. company��s cancer-drug business and form a consumer-health venture with Glaxo. AstraZeneca Plc (AZN) jumped the most since August 2011 after reports that Pfizer Inc. discussed acquiring the drugmaker in informal, now-discontinued talks. Royal Philips NV posted its biggest decline in almost a year after the world��s biggest lighting company reported first-quarter profit that missed analysts�� projections.
The Stoxx Europe 600 Index added 1.4 percent to 337.03 at the close of trading, bringing its three-day gain to 3.2 percent, the most since June. The benchmark gauge advanced 1.1 percent last week as better-than-estimated U.S. data bolstered investor confidence that the economic recovery is on course.
Pro-Russian forces who seized buildings in eastern Ukrainian cities have said they are not bound by the deal reached by Ukraine, the European Union, the U.S. and Russia in Geneva last week. The government in Kiev accuses Russian President Vladimir Putin of stirring unrest and exploiting the situation to possibly prepare for an invasion, while the U.S. underlined its support for Ukrainian politicians.
Copy Source : Bloomberg
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