European Stocks Rise as Alstom, Telekom Austria Rally Amid M&A

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European stocks rose, rebounding from yesterday��s loss, as companies from Alstom SA to Telekom Austria AG rallied on mergers-and-acquisitions activity, while Russia resumed military drills along its border with Ukraine.

Alstom climbed 11 percent after people familiar with the matter said General Electric Co. has held talks to buy the French train maker. Telekom Austria jumped 6.3 percent after America Movil SAB said it will buy out the company��s minority shareholders. Technip SA added 8.8 percent after posting profit that beat projections. Konecranes Oyj slid 3.5 percent after reporting first-quarter sales that missed analysts�� estimates.

The Stoxx Europe 600 Index added 0.3 percent to 336.13 at the close of trading after rallying as much as 0.8 percent and sliding as much as 0.5 percent. The benchmark fell yesterday for the first time in four days as new-house sales in the U.S. unexpectedly plunged. The gauge remains 0.9 percent away from the six-year high it reached on April 4.

Copy Source : Bloomberg