By Bernard Collins
European stocks jumped today due to the boost Iberdrola Renovables SA and Tognum AG got as a result of takeover bids. The bids outweighed concern about continuing unrest in the Middle East and Libya. Asian shares and U.S. index futures also went up. Iberdrola Renovables recorded a gain of 8.1 percent after parent company Iberdrola SA bid 2.5 billion euros ($3.5 billion) to acquire minority investors. Tognum gained 6.2 percent as Daimler AG and Rolls-Royce Group Plc offered to buy the company. Alcatel- Lucent SA shares however, went down after U.S. rival Finisar Corp. forecast earnings that missed estimates.

The Stoxx Europe 600 Index went up 0.4 percent to 282.92 at 11:34 a.m. in London. The gauge has jumped 79 percent since reaching a 12-year low two years ago today. The decision by governments and central banks to add more than $12 trillion into the financial system has boosted the gauge. Standard & Poor’s 500 Index futures went up 0.3 percent after the benchmark gauge ended a two-day decline yesterday. The MSCI Asia Pacific Index gained 0.2 percent.

The Stoxx 600 has lost 2.8 percent since touching a new high on February 17 as crude oil prices rose amid violence in Libya. The surge in crude oil raised fear that higher energy costs will harm the economic recovery. Brent crude also went up today amid concern that Libyan unrest may spread to other oil-producing nations in North Africa and the Middle East, which will disrupt supplies to Europe. Libya has the largest oil reserves in Africa.