The broad European Stoxx 600 index was up 0.67 percent to 600.61 as of 11:00 CET. During the session, the index has traded within a range of -0.22 percent at its lowest and 0.78 percent at its highest.
Sector-wise, media is showing the strongest performance, up 5.71 percent, while chemicals follow as the second best performer, up 1.45 percent.
The weakest performance is seen in healthcare, down 0.08 percent, while utilities are noted as the second weakest, down 0.03 percent.
Major shareholder Pershing Square Capital Management has submitted a non-binding proposal to acquire all outstanding shares in music giant Universal Music Group through a merger with Pershing Square Sparc. The deal involves the formation of a new company to be listed in the US. Payment will be made in the form of cash and shares. According to Reuters calculations, the deal is valued at 55.8 billion euros. Universal Music shares are climbing 11.6 percent in Amsterdam.
Dutch banking giant ING Groep has terminated its agreement to sell its Russian unit, ING Bank Eurasia, as the buyer is not expected to receive the necessary approvals. The bank announced the sale of its Russian operations to Global Development JSC in late January. ING states it remains committed to exiting the Russian market and is evaluating alternative solutions. The stock is rising 1.6 percent in Amsterdam.
The Italian government is expected to replace Leonardo CEO Roberto Cingolani after he was excluded from the government's new board proposal, according to the newspaper La Repubblica. Leonardo shares are falling 5.8 percent in Milan.
Danish pharmaceutical company Novo Nordisk states that its oral version of Wegovy provides a greater average weight loss than Eli Lilly's rival Foundayo, according to a comparison of previously published studies, CNBC reports. The analysis contains no new data. Novo shares are down 0.2 percent.
| Index | Last | Today, % | YTD, % | Time |
| Stoxx 600 | 600.50 | 0.65% | 1.40% | 11:00:00 |
| FTSE 100 | 10 463.23 | 0.26% | 5.36% | 11:00:06 |
| DAX | 23 326.43 | 0.68% | -4.75% | 11:00:04 |
| CAC 40 | 8 060.20 | 1.23% | -1.10% | 11:00:00 |
| Sector Performance Stoxx 600: | ||||
| Automobiles & Parts | 465.26 | 0.87% | -11.37% | 11:00:00 |
| Banks | 345.13 | 1.26% | -2.86% | 11:00:00 |
| Basic Resources | 768.32 | 1.35% | 15.33% | 11:00:00 |
| Chemicals | 1 194.48 | 1.45% | 7.86% | 11:00:00 |
| Construction & Materials | 827.09 | 1.06% | -2.47% | 11:00:00 |
| Oil & Gas | 549.21 | 0.49% | 35.73% | 11:00:00 |
| Financial Services | 860.23 | 0.73% | -4.36% | 11:00:00 |
| Food & Beverage | 620.89 | 1.27% | -0.28% | 11:00:00 |
| Industrial Goods | 1073.68 | 0.43% | 0.50% | 11:00:00 |
| Insurance | 502.65 | 1.06% | -1.52% | 11:00:00 |
| Media | 350.12 | 5.73% | -12.22% | 11:00:00 |
| Healthcare | 1 130.23 | -0.08% | -1.04% | 11:00:00 |
| Technology | 813.15 | 0.24% | -2.80% | 11:00:00 |
| Telecommunications | 302.59 | 1.16% | 18.25% | 11:00:00 |
| Utilities | 570.50 | -0.04% | 16.48% | 11:00:00 |
| Personal & Household Goods | 941.69 | 1.28% | -12.27% | 11:00:00 |
| Retail | 453.28 | 1.20% | -6.79% | 11:00:00 |
| Travel & Leisure | 254.41 | 0.76% | -9.30% | 11:00:00 |
| Real Estate | 124.75 | 0.46% | -1.25% | 11:00:00 |
| Source: Factset |
