Unibet surges as European stocks edge up off 2-year lows

  • Reuters
  • Stock Market News
Unibet surges as European stocks edge up off 2-year lows
Credit: © Reuters.

LONDON, Feb 10 (Reuters) - European shares rebounded back up on Wednesday from two-year lows reached in the previous session, helped by some solid corporate earnings and signs of corporate takeover activity.

The pan-European FTSEurofirst 300 index .FTEU3 , which had fallen 1.6 percent to its lowest point since September 2013 in the previous session, recovered slightly to rise 0.4 percent.

The euro zone's blue-chip Euro STOXX 50 index .STOXX50E gained 0.5 percent, while Britain's FTSE 100 .FTSE advanced 0.6 percent.

Shares in gambling group Unibet UNIBsdb.ST surged 12.6 percent after the company's fourth quarter underlying profit rose more than expected. mobile software company Opera OPERA.OL also jumped 41.2 percent after a group of Chinese firms made a cash offer for the company, valuing it at 10.5 billion crowns, or $1.23 billion. shares in Danish shipping and oil group A.P. Moller-Maersk MAERSKb.CO slumped 9 percent after the company reported a fourth-quarter net loss after booking impairments of $2.6 billion on its oil assets. to Thomson Reuters StarMine data, roughly half of the companies in the pan-European STOXX 600 .STOXX index have reported fourth quarter results, and 52 percent have beaten or met expectations while 48 percent have missed.

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