4:00 PM Frankfurt Bayer soared after the company won U.S. regulatory approval of Monsanto takeover. BNP Paribas agreed to buy Poland-based Raiffeisen Bank International. Givaudan declined on weaker-than-expected sales. LVMH sales soared 10% to 11 billion.
In London trading, FTSE 100 index increased 58.17 or 0.8% to 7,252.74 and in Frankfurt the DAX index jumped 147 or 1.2% to 12,408.54.
In Paris, CAC 40 index gained 38.41 or 0.7% to 5,301.72.
soared 5.4% to 98.45 on local reports in Germany that the U.S. Justice Department will allow Germany-based drugs and pesticides maker to acquire the U.S.-based rival Monsanto Co in a $62.5 billion deal, after selling of additional assets to secure antitrust approval.
Under the terms, Bayer agreed to sell additional seed and treatment assets to domestic BASF AG. However, takeover was already approved in March by the European Union and conditionally by China.
Bayer declined comment but the company said it expects to acquire Monsanto in the second-quarter.
BNP Paribas SA
gained 1% to 61.50 after France-based banking group today agreed to acquire the core banking operations of Poland-based lender Raiffeisen Bank International AG''s domestic subsidiary Raiffeisen Bank Polska SA for about 775 million or $953 million.
The deal is expected to close in the fourth quarter of this year.
declined 3.2% to 2,141 Swiss francs after Switzerland-based fragrance and flavor maker reported group sales in the first-quarter ending in March jumped 5.4% to 1.3 billion francs.
Revenues in the fragrance segment advanced 4.9% to 576 million francs and revenues in the flavor business increased 5.8% to 666 million francs.
LVMH Moet Hennessy Louis Vuitton SE
jumped 3.9% to 272.35 after France-based luxury products maker said revenues in the first-quarter ending in March soared 10% from a year ago to 10.9 billion.
The luxury products maker said revenues in the fashion and leather goods business surged 25% to 4.3 billion and revenues in the perfumes and cosmetics segment jumped 8% to 1.5 billion.
Revenues in the watches and jewelry business soared 9% to 959 million while revenues in the wines and spirits business in the quarter were flat at 1.2 billion from a year ago period.
Separately today, LVMH announced that under its new accelerator program at the STATION F startup campus in Paris, France the company welcomes 50 international startups each year.
This will drive business acceleration between LVMHs Maisons and startups to invent new products and services for the luxury market.