FRANKFURT (dpa-AFX) - Shares in Mutares recovered above their 200-day moving average on Monday. At times, the shares of the investment company gained more than 7 percent to 34.75 euros. A week and a half ago, they had cost less than 30 euros.

Mutares had announced a takeover in Sweden in the morning. According to Mutares, Serneke Sverige is a leading general contractor that focuses on the construction of service, infrastructure, residential and commercial real estate.

"This is an important step towards our growth target of EUR 10 billion in Group revenues and EUR 200 million in net profit for the year in the Mutares holding company," commented CEO Robin Laik./ag/jha/