European stocks slip as Carrefour abandons takeover talks

MG News | January 18, 2021 at 02:18 PM GMT+05:00

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January 18, 2021: European stocks slipped on Monday as French retailer Carrefour tumbled after ending 16.2 billion euro ($19.57 billion) merger talks with Alimentation Couche-Tard, with worries about a slow economic recovery keeping investors on edge.

The pan-European STOXX 600 index slipped 0.2% by 0810 GMT, extending losses from Friday when the benchmark index snapped a four weeks of gains.

A better-than-expected quarterly rebound for China's economy failed to excite investors who feared that soaring COVID-19 cases and tight restrictions in continent could dent growth in the first quarter.

Carrefour fell 5.9% in early deals after its takeover talks with Canada's Alimentation Couche-Tard failed and the two sides decided to work on partnership opportunities.

The stock had shed nearly a third of its gains after the French government opposed the deal last week.

Shares in carmaker Stellantis rose almost 3% in its first day of trading in the Paris stock market on the completion of merger between Fiat Chrysler and PSA.

Reuters

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KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	60,765.00	61,150.00 60,600.00	930.00 1.55%
BRENT CRUDE	73.14	77.00 73.07	-3.94 -5.11%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	0.50 0.44%
ROTTERDAM COAL MONTHLY	126.50	126.50 125.90	0.50 0.40%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	69.91	70.03 69.66	-0.43 -0.61%
SUGAR #11 WORLD	14.01	14.09 13.81	0.06 0.43%