Europe Stocks Climb; Elan, Danone Post Solid Gains

European stock markets were on track to snap a two-day losing streak on Monday, with shares of Elan Corp. PLC rallying after a takeover deal and Danone SA on the rise after a well-received earnings report.

The Stoxx Europe 600 index  added 0.6% to 300.59, after closing down 0.2% on Friday.

Shares of Elan  jumped 8.8% after health-care products group Perrigo Co.  said it would buy the Irish biotech firm in a deal valued at $8.6 billion. Shares of Perrigo were up 0.7% in premarket trade.

Shares of Danone  climbed 3.2% after the yogurt maker confirmed its full-year targets and reported a 6.7% rise in quarterly sales.

For the broader European stock markets, investors are focused on an eventful week, with central-bank meetings and top-tier U.S. data on tap. The European Central Bank, the Bank of England and the U.S. Federal Open Market Committee meet during the week, with market participants closely watching for any hints of changes in monetary policy.

On Wednesday, the U.S. gross-domestic-product report is out, followed on Friday by the nonfarm-payrolls data and unemployment rate.

U.S. stock futures pointed to a lower open on Monday.

Back in Europe, shares of Volkswagen AG  picked up 0.9% after Berenberg initiated coverage of the car maker with a buy rating.

In the same vein, shares of advertising major WPP PLC  rose 2% in London after UBS lifted the firm to buy from neutral.

Credit Agricole SA  lost 2.2% after J.P. Morgan Cazenove cut the French bank to neutral from overweight.

Among country-specific indexes, France’s CAC 40 index  advanced 0.2% to 3,978.35.

Germany’s DAX 30 index  rose 0.5% to 8,282.30, while the U.K.’s FTSE 100 index  traded 0.4% higher at 6,580.89.

Source : Marketwatch