Global Market News

European Equities Close Mostly Higher in Tuesday Trading; Anglo American Plans Overhaul in Face of BHP Takeover Bid


Last updated: 05/14/2024 12:17:02

12:17 PM EDT, 05/14/2024 (MT Newswires) -- European stock markets closed mostly higher in Tuesday trading as the Stoxx Europe 600 gained 0.18%, the Swiss Market Index rose 0.14%, France's CAC was up 0.20%, the FTSE in London increased 0.16%, and Germany's DAX eased 0.10%.

In the UK, the number of payrolled employees in the country declined by 5,000 in March from February and rose by 288,000 from a year earlier, according to the Office for National Statistics.

In Switzerland, the producer and import price index rose 0.6% in April from March and fell 1.8% from a year earlier, according to the Swiss Federal Statistical Office.

In corporate news, UK mining company Anglo American reported plans to overhaul and simplify its portfolio, a day after rejecting the latest takeover bid from Australian mining giant BHP Group (BHP). The company said it will divest in steelmaking coal and nickel, demerge Anglo American Platinum, and divest or demerge from De Beers. Shares of Anglo American fell 3.2% in London.

Novo Nordisk (NVO) is selling 4.65 billion euros ($5.03 billion) in bonds to finance programs to increase production of its blockbuster treatments, Bloomberg reported Monday, citing a person familiar with the matter. The company is issuing bonds for general corporate purposes and to finance the acquisition of three sites from Catalent, Novo Nordisk told MT newswires.

Stellantis' (STLA) majority-owned Leapmotor International plans to start launch sales of its electric vehicles in Europe in September through 200 existing outlets. Leapmotor said it will begin sales of its T03 and C10 models in nine European countries in Q3. Shares of the Amsterdam-based automaker rose more than 2% on the CAC in Paris.
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