French, UK Shares Down as German Stocks Rise

October 14, 2017
French, UK Shares Down as German Stocks Rise

By Investors Hub

European stocks turned in another mixed performance on Friday as German DAX Index went up by 0.1 percent, while the French CAC 40 Index dropped by 0.1 percent and the UK’s FTSE 100 Index depreciated by 0.2 percent.

In stock-specific action, German chemicals giant BASF SE signed an agreement to acquire significant parts of seed and non-selective herbicide businesses of German conglomerate Bayer AG. The all-cash purchase price is 5.9 billion euros.

For Bayer, the divestment is part of its planned acquisition of Monsanto. BASF shares have moved to the downside percent, while Bayer has moved higher percent.

Airbus’ shares have moved lower after the U.S. Federal Aviation Administration issued an emergency order requiring airlines to inspect engines on roughly 120 Airbus A380 superjumbo jets world-wide.

GKN plc shares have plunged after the engineering business reported weak margin for its third quarter, despite good organic sales growth. The company now expects management profit before tax for fiscal 2017 to be slightly above 2016.

Meanwhile, Ashmore Group plc’s shares have rallied after the specialist emerging markets asset manager reported growth in first-quarter assets under management.

Shares of investment management firm MAN Group plc have also moved to the upside after reporting higher funds under management in the third quarter.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Leave a Reply

Stock Market Watch
Previous Story

NSE: Stock Market Value Grows 1.45% to N12.7tr in 5 Days

Japanese Stocks Surge to Fresh 21-Year High Ahead of November Polls
Next Story

Japanese Stocks Surge to Fresh 21-Year High Ahead of November Polls

Latest from Economy

Don't Miss