European stocks rose on Monday, with tech stocks rising more than 2% to track gains on Wall Street’s Nasdaq after Tesla chief executive Elon Musk revealed he had taken a 9.2 stake % in Twitter.

Still, the overall advance of the pan-European Stoxx 600 index was contained to 0.8% as investors kept an eye on further Western sanctions after Ukraine accused Russia of war crimes.

DUBLIN

The Iseq index rose 1.5% to 7,289.09. Ryanair gained 0.9% to €13.66, with news that the airline had reduced its loss program for the full year and saw its net debt fall more than expected by the market offset by a further surge in prices of the oil above $100 a barrel.

Benchmark West Texas Intermediate crude oil rose 4.5% to trade at $103.71 a barrel on Monday.

Bank stocks were mixed, with Bank of Ireland down 1.1% to €2.014, while BAI added 1.2% to €5.94.

Renewable energy company Greencoat Renewable Energy received little support – closing unchanged at €1.145 – from the announcement that it would acquire 50% of the Borkum Riffgrund 1 offshore wind farm in Germany for around €350 million.

Kerry Group was also in focus, rising 1.8% to €109.15, after it revealed it suspended operations in Russia and Belarus following extensive consultation with shareholders.

LONDON

Gains in industrial and leisure stocks lifted UK stock indices as investors closely watched developments in the Russia-Ukraine crisis, while fashion retailer Ted Baker surged after launching a process of formal sale.

The blue-chip Ftse 100 closed up 0.3%.

Ted Baker jumped 14.4% after saying it was ready to sell at the right price. Private equity firm Sycamore has improved its takeover proposal and another third party has also shown interest.

Meanwhile, Bank of England Deputy Governor Jon Cunliffe said the central bank may not need to take lasting action to prevent inflation expectations from becoming entrenched in the public thought, as there were few signs of this to date.

just group climbed 5.8% after Barclays upgraded the stock to “overweight” and raised its price target.

Morrisons, the UK’s fourth largest grocer and a major food producer, has warned its sales and core profit for the year could be hit by the Ukraine crisis and rising inflation unless conditions improve. improve. Actions of supermarket groups Tesco and Sainsbury’s decreased by 1.1% and 0.7%, respectively.

EUROPE

Opinion polls ahead of France’s first round of voting on Sunday showed the country faced a repeat of the 2017 election showdown between Emmanuel Macron and Marine Le Pen, with Macron still favored but in a tighter race.

“Investors have looked at this election, given the high likelihood that Macron will still be in power…If he wins, it is unlikely to result in a material change in [investment] allowances,” said Dean Turner, economist at UBS.

rock climbed 3.1% after the U.S. Food and Drug Administration granted priority review to its drug to treat Covid-19 in hospitalized adults.

Telecom Italy fell 1.9% as the chances of a KKR takeover receded, with the US fund ready to make it clear that it would not formalize any offer without due diligence.

NEW YORK

The Nasdaq and S&P 500 led in mid-afternoon trading, boosted by megacap shares and a nearly 30% jump in Twitter shares after Elon Musk revealed his large stake in the company. , making him the main shareholder.

Tesla rose after the electric vehicle maker reported record first-quarter deliveries.

Starbucks fell after former chief executive Howard Schultz announced the suspension of the company’s stock buyback program.

New York-listed shares of Chinese companies Bilibili and Pinduoduo jumped after China proposed revising secrecy rules for overseas listings – alleviating concerns about potential delistings from the US market.