European shares closed at fresh three-year highs on Monday with HeidelbergCement and UniCredito shining on takeover news. Shares in Germany's biggest cement maker surged 19 percent after Spohn Cement offered to buy the firm at 60 euros per share late on Friday. Meanwhile shares in UniCredito rose 3 percent after the Italian bank agreed at the weekend to buy HVB Group of Germany in what would be Europe's biggest-ever cross-border banking takeover deal worth nearly 20 billion euros ($24 billion). HVB shares rose 2.6 percent, according to Reuters. The euro falling to a 9-month low against the dollar continued to underpin the market despite crude oil rising back above $54 a barrel and the Dow Jones Industrials index in New York opening down, although Wall Street later rallied strongly. The FTSEurofirst 300 index closed 0.43 percent firmer at 1,135.23 points, its highest closing level since June 2002. The narrower DJ Euro Stoxx 50 index ended up 0.51 percent at 3,159.8 points. "It's been a pretty good rally on the markets -- they've certainly performed well but we just think the chances are they will trade a bit sideways from here," Henk Potts, equity strategist at Barclays Stockbrokers said. --More 2359 Local Time 2059 GMT
