Financial spreadbetters expected Britain's FTSE 100 to open 0.4 percent higher, Germany's DAX to start the day up 0.5 percent and France's CAC 40 to rise 0.6 percent. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent. The index has recovered nearly all the losses suffered last Friday when global markets plunged in response to Britain's decision to leave the European Union.
In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer. "We’re reversing the 'Brexit' as it becomes evident that it was more of a political vote and decision than an economic decision," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
The snub underscores the challenges Mondelez Chief Executive Irene Rosenfeld faces in wooing Hershey's controlling shareholder, the Hershey Trust, a $12 billion charity created by the eponymous company's founder a century ago. The maker of Hershey's Kisses and Reese's Peanut Butter Cups saw its shares trade above Mondelez's bid of $107 per share in cash and stock, indicating investors expected a new offer. A merger of two of the world's top five candy makers would add Hershey's strong U.S. business to Mondelez's global footprint.