LONDON (ShareCast) - A rally on Wall Street helped European bourses extend gains late into the session Monday.
M&A rumours gave telecoms a boost, with mobile phone giant Vodafone (LSE: VOD.L
- news) said to be mulling a bid for T-Mobile UK, the British wireless unit of Deutsche Telekom (Xetra: 555750 - news) .
The Financial Times is quoting people familiar with the situation as saying that the company is considering making an offer for T-Mobile UK, which has an estimated enterprise value of €3bn-€4bn, or setting up a joint venture.
Shares in Deutsche Telekom, Vodafone and France Telecom (Paris: FR0000133308 - news) are in demand.
Energy firms, including Royal Dutch Shell (Amsterdam: RDSA.AS - news) , Repsol (Madrid: REP.MC - news) and Total, went well as oil prices hit $71 in New York.
Banks were broadly higher. Banco Santander (Madrid: BSCH.MC - news) , Deutsche Bank (Xetra: 514000 - news) , UBS (Virt-X: UBSN.VX - news) and Societe Generale (Paris: FR0000130809 - news) were all in the blue.
German reinsurer Munich Re was wanted following a UBS upgrade to 'buy' from 'neutral' due to share-price underperformance.
Across the markets, Frankfurt leapt 108 points to 4,885, Paris rallied 63 to 3,193, while Zurich finished up 67 at 5,443.
Elsewhere, convicted fraudster Bernard Madoff has been handed a 150-year prison sentence for running a $50bn (£30.3bn) ponzi-style investment fraud.
CAC 40 (Paris: news) - Risers
Schneider Electric (Paris: FR0000121972 - news) (SU) € 55.17 +4.45%
AXA (CS) € 13.92 +3.84%
Saint Gobain (Paris: FR0000125007 - news) (SGO) € 24.40 +3.79%
Lafarge (Paris: FR0000120537 - news) (LG (003550.KS - news) ) € 48.25 +3.69%
Veolia Environnement (Paris: FR0000124141 - news) (VIE) € 21.36 +3.64%
Vallourec (VK) € 87.00 +3.32%
Bouygues (EN) € 27.73 +3.05%
Air France (Paris: FR0000031122 - news) -KLM (AF (Stockholm: 45674.ST - news) ) € 9.23 +3.04%
BNP Paribas (Paris: FR0000131104 - news) (BNP) € 47.47 +3.03%
EDF (EDF (Paris: FR0010242511 - news) ) € 34.93 +2.83%
CAC 40 - Fallers
Alcatel (Paris: FR0000130007 - news) -Lucent (ALU) € 1.77 -2.32%
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