Dipo Olowookere
By Investors Hub
European stocks are mostly lower on Tuesday even as U.K. markets held somewhat steady, helped by a weakening pound and deal-making news.
While the U.K.?s FTSE 100 Index is just below the unchanged line, the French CAC 40 Index is down by 0.5 percent and the German DAX Index is down by 0.7 percent.
On the data front, reports on German industrial output, exports and U.K. house prices painted a mixed picture of regional economies.
Cement giant LafargeHolcim has moved lower after its first-quarter recurring EBITDA fell 7.7 percent on a like-for-like basis, affected by the especially harsh winter in North America and Europe.
Adecco Group has also tumbled. The staffing firm’s first-quarter net income fell 26 percent due to one-offs and investments.
Danish hearing aid maker William Demant Holding has plummeted after warning of lower revenue.
Deutsche Post shares have also slumped. The German postal and logistics group confirmed its 2018 targets after reporting a fall in first-quarter consolidated net profit.
On the positive side, consumer products giant Unilever has rallied after commencing the first tranche of its share buyback program.
Shire Plc shares have also jumped in London after Japan’s Takeda Pharmaceutical announced it had reached an agreement on the terms of a recommended offer to acquire the Irish drugmaker.
Similarly, Virgin Money Holdings has soared after receiving a preliminary and conditional proposal from CYBG.
