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European shares pause after rally; easyJet soars on take-private bid

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European shares pause after rally; easyJet soars on take-private bid
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European shares paused after a strong rally, tracking a wait-and-see mood ahead of fresh deal news, with investors especially focused on easyJet’s take-private process. The STOXX 600 index was at 652.84 points as of 0710 GMT, after its best weekly performance since mid-May. EasyJet shares jumped 11% (and up 1% in the broader travel and leisure sector) following an in-principle agreement to a sweetened acquisition offer from U.S. investment firm Castlelake, valuing the airline at up to £5.5 billion ($7.34 billion). Relief over calmer Middle East tensions and falling oil supported European equities. Further regional developments remained in focus given no breakthrough in U.S.-Iran peace talks.

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