European Stock Markets
Fresh dealmaking activity helped support European shares on Thursday,
although investors remained cautious on worries over the prospect of
U.S. military action in Syria.
The pan-European STOXX 600 index fell 0.1 percent at 0821 GMT, having lost 0.6 percent on Wednesday. The FTSE .FTSE was flat and Germany's DAX .GDAXI lost 0.1 percent.
U.S. President Donald Trump warned Russia this week of an imminent military action in Syria over a suspected gas attack, declaring that missiles “will be coming” and lambasting Moscow for standing by Syrian President Bashar al-Assad.
“We may well see a military response by the end of the week, as the situation in Syria ramps up further, and this may well temper investor enthusiasm to buy back into the market ahead of the weekend,” said CMC market analyst Michael Hewson.
However, investors found some comfort in some merger and acquisition developments.
Shire (SHP.L) rose 2.2 percent after sources told Reuters Takeda (4502.T) had sounded out creditors for loans to help finance a possible bid for the British rare disease specialist.
Firstgroup (FGP.L) spiked 9 percent after news it rejected a takeover approach from Apollo, while Playtech (PTEC.L) rose 8.2 percent after it agreed to buy Italian betting firm Snaitech (SNAI.MI) in a $1 billion deal. Snaitech was up 14.8 percent.
The tensions over Syria kept crude oil prices near 4 year highs, helping energy stocks advance 0.5 percent. [O/R]
In earnings some disappointing updates weighed.
Carrefour (CARR.PA) fell 5 percent following weak quarterly sales, while German drugs-packaging maker Gerresheimer (GXIG.DE) also fell weaker-than-expected first-quarter earnings.
Sulzer (SUN.S)
rallied 15 percent after the Swiss pumpmaker said it freed itself of
U.S. sanctions after authorities approved its buyback of shares that has
reduced to less than 50 percent the stake of Russian oligarch Viktor
Vekselberg, chairman of holding company Renova.
The relief bounce however made up for only part of the 22 percent share price drop Sulzer suffered since the sanctions were announced last week, as some investors remained cautious.
Shares in Oerlikon (OERL.S) rose 4.6 percent, Schmolz & Bickenbach (STLN.S) added 1.6 percent.
The pan-European STOXX 600 index fell 0.1 percent at 0821 GMT, having lost 0.6 percent on Wednesday. The FTSE .FTSE was flat and Germany's DAX .GDAXI lost 0.1 percent.
U.S. President Donald Trump warned Russia this week of an imminent military action in Syria over a suspected gas attack, declaring that missiles “will be coming” and lambasting Moscow for standing by Syrian President Bashar al-Assad.
“We may well see a military response by the end of the week, as the situation in Syria ramps up further, and this may well temper investor enthusiasm to buy back into the market ahead of the weekend,” said CMC market analyst Michael Hewson.
However, investors found some comfort in some merger and acquisition developments.
Shire (SHP.L) rose 2.2 percent after sources told Reuters Takeda (4502.T) had sounded out creditors for loans to help finance a possible bid for the British rare disease specialist.
Firstgroup (FGP.L) spiked 9 percent after news it rejected a takeover approach from Apollo, while Playtech (PTEC.L) rose 8.2 percent after it agreed to buy Italian betting firm Snaitech (SNAI.MI) in a $1 billion deal. Snaitech was up 14.8 percent.
The tensions over Syria kept crude oil prices near 4 year highs, helping energy stocks advance 0.5 percent. [O/R]
In earnings some disappointing updates weighed.
Carrefour (CARR.PA) fell 5 percent following weak quarterly sales, while German drugs-packaging maker Gerresheimer (GXIG.DE) also fell weaker-than-expected first-quarter earnings.
The relief bounce however made up for only part of the 22 percent share price drop Sulzer suffered since the sanctions were announced last week, as some investors remained cautious.
Shares in Oerlikon (OERL.S) rose 4.6 percent, Schmolz & Bickenbach (STLN.S) added 1.6 percent.
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