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European stocks steady on M&A support; virus worries persist

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European stock markets were steady on Wednesday as a couple of takeover deals in the region helped offset worries about fresh lockdown measures to battle a surge in coronavirus cases.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 17, 2020. REUTERS/Staff

“A lot of good news has happened. Markets are looking for the next bit of good news, and it may be a little difficult at this time,” ETX Capital analyst Michael Baker said. Deutsche Boerse rose 2.3% after the German stock exchange operator said it would acquire an 80% stake in corporate governance adviser Institutional Shareholder Services for about $1.8 billion.

Despite the two-day wobble, the STOXX 600 remains on track for its best month on record as investors bet on a global economic recovery, supported by trillions of dollars in stimulus and hopes of a vaccine.

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