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European shares flat as financials, miners weigh; Flutter rises

BENGALURU (March 15): European stocks ended flat on Monday, with declines led by financial and mining stocks, while gains in betting firm Flutter Entertainment and optimism about a strong economic rebound helped limit losses. The pan-European STOXX 600 index was flat, inching closer to a record peak set last year, with travel and leisure, automakers, and food & beverage sectors, among top gainers.

China Mengniu Dairy : Under shareholder pressure, Danone takes step to sell Chinese asset

Danone shares rise after it prepares to sell Chinese dairy stake

Article content PARIS Shares in Danone rose 1.9% on Monday after the French food group said it was taking a first step toward selling its stake in its Chinese dairy partner Mengniu Dairy Company Limited, and would use the gains to buy back its own shares. “We see this as a further positive step in tidying up Danone’s non-core portfolio and a signal of serious intent on the portfolio generally, consistent with recent announcements,” wrote Jefferies analysts in a note. We apologize, but this video has failed to load. Try refreshing your browser, or Danone shares rise after it prepares to sell Chinese dairy stake Back to video

China Mengniu Dairy : Danone shares rise after it prepares to sell Chinese dairy stake

China Mengniu Dairy : Danone shares rise after it prepares to sell Chinese dairy stake
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Under shareholder pressure, Danone seeks to sell Chinese asset

Under shareholder pressure, Danone seeks to sell Chinese asset A cow in a Chinese dairy farm. Photo: Bloomberg March 1, 2021 Danone said on Sunday it was taking a first step towards selling off its stake in its Chinese dairy partner as the French food group faces pressure from shareholders to improve its performance and governance. Danone said in a statement that following a review of its portfolio it had reached an agreement to convert its indirect stake in China Mengniu Dairy Company Limited into a 9.8% direct holding in the Hong Kong-listed group. A sale of the direct stake could follow this year in one or in several transactions and depending on market conditions, Danone said, adding that most of the gains would be used to buy back its own shares.

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