European shares inch higher with focus on UK M&A, Credit Suisse slips

(Reuters) – European stocks edged higher on Monday, with deal talks related to British consumer companies boosting the bluechip , while shares in Credit Suisse (SIX:) slipped after the Swiss bank’s chairman quit following an internal probe into his personal conduct.

The pan-European index rose 0.2% by 0806 GMT, with Asian markets choppy after China’s central bank cut some key lending rates after mixed economic data, while a U.S. holiday made for thin trading. [MKTS/GLOB]

China-exposed miners and healthcare stocks were the top sectoral gainers in Europe, up about 0.8% each.

Lifting UK’s FTSE 100, GlaxoSmithKline (NYSE:) jumped 5.2% after it confirmed over the weekend that it had rejected Unilever (NYSE:)’s 50-billion-pound offer for its consumer healthcare business.

Unilever slid 5.2% after it signalled on Monday it would pursue the deal, calling it a “strong strategic fit”.

Credit Suisse slipped 1.1% after Chairman Antonio Horta-Osorio quit following an internal probe into his personal conduct, including breaches of COVID-19 rules.

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