European shares rise as Dialog Semi tech shares rise

© Reuters. The DAX chart of the German share index is shown on the Frankfurt Stock Exchange

(Reuters) – European stocks rose after their best weekly gain in nearly three months on Monday as Dialog Semiconductor boosted tech stocks, while hopes of a faster economic recovery remained amid vaccine rollouts around the world.

Renesas Electronics Corp and Dialog Semiconductor had agreed that the Japanese chip manufacturer should buy the chip designer listed in Frankfurt for 4.9 billion euros in cash.

The pan-European index rose 0.4%, adding to the previous week's gain of 3.5%. Technology stocks rose 1.3%.

Frankfurt shares gained 0.6%, outperforming European competitors in early trading.

Most of the European sector indices were higher shortly after opening.

Global markets started the week on stronger foundations as well. Investors have been closely watching a $ 1.9 trillion COVID-19 bailout package to the United States that is expected to be passed by lawmakers this month.

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