European stocks rebounded on Monday benefiting from an unexpected rise in confidence in business activity in Germany, confirming the resilience of the largest economy in the Eurozone, while the shares of Siemens Gamesa, a wind turbine manufacturer, jumped following a $4.28 billion takeover bid from its largest investor. After rising 1.3 percent in early trading, the Stoxx 600 European index gave up some gains to rise 0.3 percent by 0908 GMT. Commodity-related stocks gained more than one percent with rising oil and base metal prices, while bank shares rose 0.2 percent.

Siemens Gamesa shares jumped about seven percent to lead the Stoxx 600 index after Siemens Energy made a 4.05 billion euro ($4.28 billion) bid to buy a minority stake in the struggling wind turbine unit.

The shares of Siemens AG, the largest shareholder in Siemens Energy, rose 0.4 percent. Deutsche Euroshop shares surged 40.9 percent after a consortium offered 1.4 billion euros ($1.48 billion) to acquire the German shopping mall investor. British retailer Kingfisher shares rose 1.9 percent after the announcement of first-quarter sales that significantly outperformed pre-pandemic levels.