European shares inch higher with focus on UK M&A, Credit Suisse slips

European stocks edged higher on Monday, with deal talks related to British consumer companies boosting the bluechip FTSE 100, while shares in Credit Suisse slipped after the Swiss bank's chairman quit following an internal probe into his personal conduct. The pan-European STOXX 600 index rose 0.2% by 0806 GMT, with Asian markets choppy after China's central bank cut some key lending rates after mixed economic data, while a U.S. holiday made for thin trading.

European stocks edged higher on Monday, with deal talks related to British consumer companies boosting the bluechip FTSE 100, while shares in Credit Suisse slipped after the Swiss bank's chairman quit following an internal probe into his personal conduct.

The pan-European STOXX 600 index rose 0.2% by 0806 GMT, with Asian markets choppy after China's central bank cut some key lending rates after mixed economic data, while a U.S. holiday made for thin trading. China-exposed miners and healthcare stocks were the top sectoral gainers in Europe, up about 0.8% each.

Lifting UK's FTSE 100, GlaxoSmithKline jumped 5.2% after it confirmed over the weekend that it had rejected Unilever's 50-billion-pound offer for its consumer healthcare business. Unilever slid 5.2% after it signalled on Monday it would pursue the deal, calling it a "strong strategic fit".

Credit Suisse slipped 1.1% after Chairman Antonio Horta-Osorio quit following an internal probe into his personal conduct, including breaches of COVID-19 rules.