European shares rise, Oerlikon climbs on deal to sell vacuum business

  • Reuters
  • Stock Market News
European shares rise, Oerlikon climbs on deal to sell vacuum business
Credit: © Reuters.

LONDON, Nov 20 (Reuters) - European shares rose on Friday, approaching new three-month highs and set for its best week in a month, with Switzerland's OC Oerlikon OERL.S leading the market higher after a deal to sell its vacuum business.

The FTSEurofirst 300 .FTEU3 was up 0.2 percent to 1,505.11 points, having touched its highest levels since August on Thursday. It is up 3.2 percent so far this week, set for its best week since October.

The STOXX Europe 600 .STOXX was also up 0.2 percent.

The top riser on the index was industrial firm Oerlikon, up 5.5 percent after Sweden's Atlas Copco ATCOa.ST said it would buy the Swiss company's vacuum business for an enterprise value of 486 million euros ($520 million) in cash.

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