MILAN May 31 European shares opened flat on
Wednesday, weighed by a fall in mining stocks and lifted by a
big rise for Ericsson after an activist investor bought a stake
in the telecoms equipment firm.
The broader pan-European STOXX 600 index was down
0.02 percent by 0712 GMT and euro zone blue chips
added 0.1 percent. The FTSE rose 0.2 percent, helped by
a weaker pound which fell after a new poll showed Britain risks
a hung parliament following a June 8 election.
Ericsson rose 4 percent, leading STOXX gainers,
after Cevian Capital bought a stake of more than 5 percent,
saying it saw significant potential in the Swedish firm.
Cellnex was another strong gainer after a
Bloomberg report said that American Tower may bid.
Cellnex said its management has had no contact with American
Top loser was Metro after the German retailer
reported results showing a loss at its consumer electronics
The Basic Resources index, where major mining
companies are listed, was the biggest sectoral faller, dropping
(Reporting by Danilo Masoni; Editing by Louise Ireland)