Multiple merger and acquisition transactions drive European stock market rise.

The European stock market rose as multiple merger deals were announced, including Banco Santander agreeing to sell its UK subsidiary and Synthex receiving a takeover offer from KKR Group. By the Paris midday, the Stoxx Europe 600 index rose by 0.4%. Commodities and automotive stocks rose, while real estate and retail stocks lagged behind. A tax provision in a Republican tax bill threatening the solar and wind energy industries was removed, leading to an increase in renewable energy stocks. In individual stocks, KKR proposed to acquire Synthex in the UK for 40 per share, higher than the 37.63 per share proposed by Advent, resulting in a 5.3% surge in Synthex's stock price. Banco Santander agreed to acquire TSB business from Banco Santander for 2.65 billion, leading to a 5.1% increase in Banco Santander's stock price. The European stock market performed well in the first half of the year, rising by 6.7%, but concerns remain about profit resilience, with analysts lowering their profit expectations. The strengthening of the euro against the dollar may have a negative impact on some companies. Additionally, the pan-European exchange announced negotiations to acquire the operator of the Athens Stock Exchange, leading to a nearly 15% surge in the Greek Stock Exchange, the largest increase since 2020.