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MILAN Dec 27 European shares inched higher in
early deals on Tuesday as trading in some markets resumed after
a Christmas break, with Parmalat soaring after its
French owner announced a buyout of the Italian dairy group.
By 0817 GMT, the pan-European STOXX 600 index was
up 0.2 percent. Germany's DAX and France's CAC
both had gains of around 0.1 percent while the UK market
Parmalat rose 9.7 percent, surging above the 2.80 euros
offer price lodged by France's Lactalis to buy up shares in the
group that it does not already own.
All sectors traded in positive territory, with banks
lagging after the ECB told Italy's Monte dei Paschi it
needed to plug a capital shortfall of 8.8 billion euros, higher
than a previous estimate of 5 billion euros.
Trading in Monte Paschi is suspended until conditions of a
state bailout become clear.
(Reporting by Danilo Masoni; editing by John Stonestreet)