European stocks go up at the start of the day, and good news about deals helps Aveva and Schneider.
The pan-European STOXX 600 index went up for the fourth day in a row on Tuesday. Aveva jumped on news that France’s Schneider was close to making a deal to buy out the company.
By 7:20 GMT, the STOXX 600 had gone up 0.1%. The benchmark index was led by shares of British software company Aveva Group Plc, which went up 3.3%.
Late Monday night, Sky News said that French industrial company Schneider Electric (EPA:SCHN) is close to a deal to buy all of Aveva for about 3.5 billion pounds ($4.1 billion). This caused Schneider Electric’s stock price to rise by 0.9%.
Related: European stock futures are mixed, and attention is on the U.S. CPI report.
UBS Group AG (SIX:UBSG) went up 1.1% after announcing that it would raise its dividend by 10%, to $0.55 per share.
All eyes will now be on the U.S. inflation numbers that will be released later in the day. Analysts expect inflation to have reached its highest point.
