European stocks slip as Carrefour abandons takeover talks

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

0:00

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

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,102.92 254.63M	-0.51% -834.01
ALLSHR	98,424.06 767.06M	-0.39% -385.08
KSE30	49,178.66 92.71M	-0.54% -267.15
KMI30	231,230.31 69.98M	-0.64% -1485.54
KMIALLSHR	64,033.87 360.75M	-0.55% -353.80
BKTi	43,997.64 36.18M	0.12% 50.75
OGTi	32,027.34 12.90M	-0.69% -223.49

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	85,250.00	88,150.00 80,750.00	-1190.00 -1.38%
BRENT CRUDE	62.51	63.10 61.87	-0.87 -1.37%
RICHARDS BAY COAL MONTHLY	85.00	0.00 0.00	0.25 0.30%
ROTTERDAM COAL MONTHLY	96.25	0.00 0.00	0.15 0.16%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	57.98	58.80 57.38	-1.02 -1.73%
SUGAR #11 WORLD	14.77	14.83 14.56	0.11 0.75%