UK Market Up; Bwin.party, Aveva Soar

The UK market was in positive territory on Monday, reversing the previous session's losses, despite some mixed cues from Asia. Greece was also in focus after Prime Minister Alexis Tsipras said he would not strike a deal with bailout lenders at any cost.

The European Central Bank should maintain the pace and volume of interventions so that inflation rises back towards 2 percent as quickly as possible, Executive Board Member Yves Mersch said.

Despite the success of the quantitative easing, "it is important that we do not get carried away. Unconventional monetary policy must remain exceptional and time-bound," he said at the Swedbank Economic Outlook Seminar.

British manufacturers reported growth in export orders and sales in the first quarter, a quarterly report released by the British Chambers of Commerce and DHL Express showed.

About 46 percent of manufacturers said increased export orders improved in the first quarter, compared to 36 percent in the fourth quarter, according to International Trade Outlook report.

The Euro Stoxx 50 index of eurozone bluechip stocks was rising 0.16 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, was gaining 0.31 percent.

The FTSE 100 index gained 0.4 percent.

Fresnillo climbed 4 percent and Randgold Resources was adding around 2 percent.

Babcock International climbed over 3 percent after reporting increased profit for the year on strong revenue growth.

Sirius Minerals climbed 12 percent. The potash development company issued an update on the latest results from its ongoing global crop study program.

Aveva climbed 11 percent after a report said Schneider Electric SE discussed a bid for the company.

888 Holdings submitted a proposal to buy the entire issued and to be issued share capital of bwin.party for consideration comprising cash and shares of 888. bwin.party climbed 10 percent, while 888 fell 3.5 percent.

Other markets in the region were also in the green.

The Asian stocks turned in a mixed performance as weak U.S. data and signs of continuing downturn in the Chinese real estate market offset positive core machinery orders data from Japan.

In the U.S., futures point to a lower open on Wall Street. In the previous session, stocks ended narrowly mixed showing little change.

Crude for June delivery rose $0.46 to $60.15 per barrel, while June gold advanced $3.7 to $1229.0 a troy ounce.

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