European shares rise in thin trading, Bayer jumps


European shares rose in thin trading on Monday, as optimism over reopening of countries and signs of more stimulus for the battered euro zone economy helped sentiment.

The euro zone stock index .STOXXE rose 0.8% in early deals, with the pan-European STOXX 600 up 0.6% and Germany’s DAX .GDAXI up 0.9%.

Trading volumes were lower across the board with the U.S., UK and some countries in Asia closed for holidays.

Germany’s Bayer AG (BAYGn.DE) jumped 4.3% after saying it had made progress in seeking a settlement over claims its Roundup weedkiller causes cancer.

Lagardere Capital & Management (LAGA.PA) jumped 7.5% after Bernard Arnault, the billionaire behind luxury fashion group LVMH (LVMH.PA), agreed to buy a stake in the company.

Focus will turn to Germany’s May IFO business survey, which is expected to rebound from a record-low base.