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	189,166.83 407.93M	0.79% 1478.66
ALLSHR	112,809.65 875.49M	0.16% 181.96
KSE30	58,207.71 147.51M	1.27% 729.47
KMI30	269,497.03 190.79M	1.15% 3053.85
KMIALLSHR	72,828.34 555.24M	0.32% 235.69
BKTi	53,520.37 33.89M	-0.06% -32.37
OGTi	38,886.75 10.61M	-1.00% -393.22

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,340.00	0.00 0.00	-160.00 -0.18%
BRENT CRUDE	66.29	66.30 64.29	2.23 3.48%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-3.00 -3.34%
ROTTERDAM COAL MONTHLY	98.50	0.00 0.00	-0.30 -0.30%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	61.28	0.00 0.00	0.21 0.34%
SUGAR #11 WORLD	14.73	14.98 14.72	-0.23 -1.54%