European Stocks Pause Record Rally as Focus Shifts to Earnings
This content was published on April 12, 2021 - 16:09
April 12, 2021 - 16:09
(Bloomberg) European stocks retreated from a record high as investors eyed the upcoming earnings season for signs of the strength of economic growth, while M&A news supported individual shares.
The Stoxx 600 Index closed down 0.5% in London, with the U.K.’s FTSE 100 Index falling 0.4%, even as lockdown measures eased in England. Technology, travel and miners were among the biggest decliners.
Deals were in focus, with Suez SA up 7.7% and Veolia Environnement SA gaining 9.7% after agreeing to acquire its rival, ending a bitter takeover battle. DiaSorin SpA was also a standout, jumping 9.6% after agreeing to buy Covid-19 test maker Luminex Corp. for about $1.8 billion.