LIVE MARKETS-Deals in the driving seat

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DEALS IN THE DRIVING SEAT

It's been a muted start for European shares at the index level, with the STOXX 600 and most national benchmarks around flat, but there's plenty happening below the surface with earnings and corporate news.

Most striking is British life insurer Legal & General's LGEN.L shares, up around 8% and set for their biggest daily gain since November 2020, after it said it would sell its U.S. protection business for $2.3 billion in cash, one of the biggest strategic moves so far under CEO António Simões.

Deals are in focus in Italy too, and Italy's fourth-largest bank BPER's EMII.MI shares are down nearly 5% after it launched a 4.3 billion euro ($4.46 billion) all-share bid for Banca Popolare di Sondrio BPSI.MI.

It's the latest in a series of takeover bids shaking up Italy's financial sector.

Elsehwere, Porsche P911_p.DE and Saab SAABb.ST are both down after results, Danske Bank is up. DANSKE.CO

(Alun John)

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