(Reuters) – The pan-European STOXX 600 index rose for the fourth straight session on Tuesday, with Aveva jumping on a report that France’s Schneider was nearing a deal to buy out the company.
The STOXX 600 rose 0.1% by 0720 GMT. Shares of British software maker Aveva Group Plc climbed 3.3% to top the benchmark index.
French industrial group Schneider Electric rose 0.9% as Sky News reported late on Monday that it is nearing a deal to take full control of Aveva for about 3.5 billion pounds ($4.1 billion).
UBS Group AG rose 1.1% on plans to hike its dividend by 10% to $0.55 per share.
All eyes will now be on the release of U.S. inflation numbers later in the day, with analysts expecting inflation to have peaked.
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty)
