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* STOXX Europe 600 index edge higher
* Actelion hits record high on M&A report
* Commodities shares come under pressure
By Atul Prakash
LONDON, Nov 25 European shares edged higher on
Friday, heading for their third straight week of gains, with
drugmakers leading the market after Swiss biotechnology firm
Actelion surged on a report of a takeover approach by Johnson &
Actelion leapt 15 percent to a record high after
the Bloomberg report said that deliberations were at an early
stage and that Actelion was working with an adviser to explore
options. Actelion declined to comment, while J&J did not respond
to a request for comment.
Actelion's jump helped the STOXX Europe 600 Healthcare index
to advance 1.2 percent, the top sector gainer in Europe.
The pan-European STOXX 600 index was up 0.1 percent
by 1012 GMT. It has gained 0.8 percent so far this week after
rising in the previous two weeks. The index is up 4.5 percent
since Donald Trump's surprise victory in the U.S. presidential
"It looks as if the market is taking a breather after a good
run. The market view is that Trump is going to spend more and
will shield the U.S. more so that we get higher inflation and
higher domestic growth," Ronny Claeys, senior strategist at KBC
Asset Management, said.
"The market has reacted positively on Trump, but this could
change as his policies are vague at this stage. Investors will
react more on his policy details."
Gains in the broader market, however, were capped by weaker
The European oil and gas index fell 0.5 percent
after crude oil prices slipped more than 1 percent on a strong
dollar, rising Saudi supplies to Asian clients and a fall in
Miners fell 0.8 percent on a drop in major
industrial metals, with shares in Anglo American,
Antofagasta and Glencore declining between 1.0
percent and 1.8 percent.
Elsewhere, Daily Mail and General Trust slumped
nearly 4 percent, the biggest STOXX 600 loser, after Barclays
lowered its rating on the stock to "underweight" from "equal
weight" and cut its target price to 705 pence from 715 pence.
(Editing by Hugh Lawson)