European stocks rise on drugs sector takeover movement

European stock markets has advanced with London buoyed by news of another blockbuster takeover bid in the pharmaceuticals sector. London’s FTSE 100 index of top companies moved up 0.29 per cent to stand at 6,828.08 points around midday in the British capital on Friday. Frankfurt’s DAX 30 rose 0.13 per cent to 10,016.78 points and in Paris the CAC 40 index gained 0.02 per cent to 4,563.77 compared with Thursday’s closing levels. The European single currency firmed to $1.3611 from $1.3606 late in New York on Thursday. On the London Bullion Market, the price of gold rose to $1,308.78 an ounce from $1,293 on Thursday, according to AFP.