European shares advance as Ryanair and William Hill surge

European stocks rose on Monday, with low-cost airline Ryanair climbing after it issued a bullish outlook while shares in William Hill surged on bid interest from its rivals.

The pan-European STOXX 600 index was up 0.3 percent, near the level it was at before Britain’s vote in late June to quit the European Union.

Ryanair rose 5.5 percent after the company said it remained on track for its highest-ever profit this year, although it also warned it may yet have to review guidance since Brexit had created huge uncertainty.

William Hill also jumped 9.4 percent after online gambling group 888 Holdings and casino operator Rank Group said they were joining forces with a view to making a bid for William Hill.

The STOXX 600 index is up some 10 percent from a low point reached in June after the Brexit vote, although the index remains down by around 7 percent so far in 2016.

Source: Reuters