By Steve Goldstein
Billionaire Richard Branson is reportedly looking to Amsterdam rather than London for his first European-listed special purpose acquisition company.
Sky News reported that Branson , founder of the Virgin Group, is looking at a €200 million ($226 million) listing on the Euronext Amsterdam. Branson has already taken Virgin Galactic /zigman2/quotes/208333884/composite SPCE -0.46% and Virgin Orbit /zigman2/quotes/226726551/composite VORB -5.41% public through mergers with blank-check companies in the U.S., and Virgin’s SPACs have merged with 23andMe /zigman2/quotes/222659849/composite ME -1.37% and set plans to do so with Grove Collaborative /zigman2/quotes/226701480/composite VGII 0.00% .
Euronext /zigman2/quotes/208368645/delayed FR:ENX +3.16% says it accounted for 49% of new SPACs listed in Europe last year. The U.K. last year relaxed SPAC rules in an effort to bring them to the London Stock Exchange /zigman2/quotes/206625606/delayed UK:LSEG +1.45% .
European stocks turned lower Friday after the U.S. jobs report showed a further decline in the unemployment rate and a pickup in wages, even as there was a smaller-than-forecast 199,000 gain in nonfarm payrolls.
The German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.72% dropped 0.8% and the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.20% dropped 0.5%, while the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +1.19% traded steady, as the rise in bond yields boosted the financial sector, and the pickup in oil prices helped lift energy producers including BP /zigman2/quotes/202286639/delayed UK:BP +1.09% .
STMicroelectronics /zigman2/quotes/203551318/delayed IT:STM -1.57% rallied 5% in Milan after the chipmaker guided for a stronger-than-forecast fourth quarter.