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Aug. 2, 2021, 4:30 a.m. EDT

European stocks rise to record high; Meggitt surges on U.S. buyout

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By Steve Goldstein

European stocks were on track to reach a record high on Monday, as U.K. aerospace group Meggitt surged on an agreement to be purchased by a U.S. rival.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.08% traded 0.6% higher to 464.60, which is above the closing record of 463.84.

The enthusiasm was matched in U.S. stock futures /zigman2/quotes/209948968/delayed ES00 +0.09% , which advanced after a losing week.

U.K. aerospace company Meggitt /zigman2/quotes/208933633/delayed UK:MGGT +0.13% surged 58% to 743 pence after agreeing to be purchased by Parker Hannifin /zigman2/quotes/202924304/composite PH -0.38% for 800 pence a share in cash, showing there’s concern in the market the deal could be blocked by the U.K. government.

/zigman2/quotes/210599654/delayed
XX : STOXX
469.71
-0.36 -0.08%
Volume: 0.00
Oct. 21, 2021 11:03p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,532.00
+4.00 +0.09%
Volume: 913,715
Oct. 21, 2021 4:00p
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/zigman2/quotes/208933633/delayed
UK : U.K.: London
752.00 p
+1.00 +0.13%
Volume: 635,557
Oct. 21, 2021 4:35p
P/E Ratio
100.40
Dividend Yield
0.00%
Market Cap
£5.84 billion
Rev. per Employee
£181,476
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/zigman2/quotes/202924304/composite
US : U.S.: NYSE
$ 299.20
-1.14 -0.38%
Volume: 318,246
Oct. 21, 2021 4:00p
P/E Ratio
22.49
Dividend Yield
1.38%
Market Cap
$38.77 billion
Rev. per Employee
$262,585
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