M&A boost helps European shares to stabilise

EDINBURGH, June 17 Tue Jun 17, 2014 3:19am EDT

EDINBURGH, June 17 (Reuters) - European shares edged higher on Tuesday, boosted by hopes of more mergers and acquisitions activity in the healthcare sector and rebounding after geopolitical concerns hit stocks in recent days.

Shares in British pharmaceutical group Shire rose 3.5 percent, the top gainer on the pan-European FTSEurofirst 300 , after Reuters reported that it hired investment bank Citi as an adviser, expecting to receive takeover approaches following a wave of deals in the healthcare sector.

By 0706 GMT, the FTSEurofirst 300 was up 0.2 percent at 1,386.70 points.

The top secotral gainer was the travel and leisure sector , up 0.8 percent, rebounding following steep falls last week after tension in the Middle East saw Brent hit $113 a barrel.

(Reporting by Alistair Smout; editing by Blaise Robinson)

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