European equities see modest gains

Speculation of pickup in corporate deals helps offset losses in Asia

LONDON: European stock markets rose modestly yesterday as speculation of a pickup in corporate dealmaking helped offset earlier losses in Asia while Wall Street was to remain closed for the Martin Luther King public holiday.

The FTSE 100 index of leading British shares was up 31.14 points, or 0.6 percent, at 5,486.51, with shares in International Power PLC leading the advance - up 5 percent - following weekend speculation that GDF Suez is preparing a bid for the company.