Technology Stocks in Europe Rise led by Dialog

European stocks rose, after achieving their best weekly gains in nearly three months, as Dialog Semiconductor boosted the technology sector, while hopes for a faster economic recovery continued on the back of the global distribution of vaccines.

Renesas Electronics and Dialog said they had agreed that the Japanese chipmaker would buy the Frankfurt-listed chip design company for 4.9 billion euros ($ 5.90 billion) in cash.

The pan-European STOXX 600 index rose 0.4%, after gains of 3.5% last week, while technology stocks rose 1.3%.

Shares in Frankfurt advanced 0.6%, outperforming other European markets in early trade.

The gains included most of the European sector indices.

Global markets got off to a strong start to the week, as investors awaited the US $ 1.9 trillion US COVID-19 relief package that lawmakers are expected to pass this month.