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April 30, 2018, 12:36 p.m. EDT

European stocks end higher as news of corporate mergers lift sentiment

Sainsbury climbs, while T-Mobile parent Deutsche Telekom falls

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By Sara Sjolin and Victor Reklaitis, MarketWatch

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“Obviously regulators are going to have a LOT to say about such a landscape-shifting deal, meaning there’s a long way to go before this bonkers but potentially brilliant marriage becomes a reality,” he added.

Other share movers

Shares of WPP PLC /zigman2/quotes/202300097/delayed UK:WPP +0.57%   /zigman2/quotes/203813176/composite WPP +2.07%  jumped 8.6% after the advertising giant posted earnings that outstripped forecasts.

Accor SA /zigman2/quotes/203800565/delayed FR:AC -1.50%  rose 2% after the hotel operator said it is buying Movenpick Hotels & Resorts for 560 million Swiss francs ($566.5 million) in cash.

On a downbeat note, Skandinaviska Enskilda Banken AB /zigman2/quotes/201173722/delayed SE:SEB.A +1.62%  dropped 4.5% after the Swedish bank posted a drop in first-quarter profit.

Glencore PLC /zigman2/quotes/201400686/delayed UK:GLEN +1.24%   /zigman2/quotes/209462106/composite GLCNF +2.43%  fell 5% after two of the miner’s businesses in the Democratic Republic of the Congo on Friday were served freezing orders for around $3 billion.

Deutsche Telekom AG /zigman2/quotes/205973137/delayed DE:DTE +1.07%  slipped 0.3% after the boards of Sprint Corp. S 0.00%  and T-Mobile US Inc. /zigman2/quotes/204659678/composite TMUS +0.66%  agreed to an all-stock $26 billion merger. Deutsche Telekom is T-Mobile’s parent company and will own 42% of the combined entity.

Economic data

German retail sales unexpectedly declined in March, falling 0.6% month-on-month. Staying in Germany, preliminary inflation data for April showed consumer prices didn’t change this month compared with March, but rose 1.6% compared with April last year.

Meanwhile, data showed Italian inflation fell to 0.6% in April from 0.9% in March.

/zigman2/quotes/202300097/delayed
UK : U.K.: London
982.80 p
+5.60 +0.57%
Volume: 1.76M
June 21, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
2.44%
Market Cap
£11.67 billion
Rev. per Employee
£120,232
loading...
/zigman2/quotes/203813176/composite
US : U.S.: NYSE
$ 68.87
+1.40 +2.07%
Volume: 56,777
June 21, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
2.36%
Market Cap
$16.12 billion
Rev. per Employee
$154,181
loading...
/zigman2/quotes/203800565/delayed
FR : France: Euronext Paris
33.52
-0.51 -1.50%
Volume: 584,473
June 21, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€8.89 billion
Rev. per Employee
€106,316
loading...
/zigman2/quotes/201173722/delayed
SE : Sweden: Stockholm
kr 109.85
+1.75 +1.62%
Volume: 3.31M
June 21, 2021 5:29p
P/E Ratio
12.32
Dividend Yield
3.73%
Market Cap
kr233.85 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201400686/delayed
UK : U.K.: London
301.25 p
+3.70 +1.24%
Volume: 27.70M
June 21, 2021 4:49p
P/E Ratio
N/A
Dividend Yield
2.87%
Market Cap
£39.65 billion
Rev. per Employee
£765,499
loading...
/zigman2/quotes/209462106/composite
US : U.S.: OTC
$ 4.22
+0.10 +2.43%
Volume: 84,626
June 21, 2021 2:52p
P/E Ratio
N/A
Dividend Yield
2.84%
Market Cap
$54.74 billion
Rev. per Employee
$981,641
loading...
/zigman2/quotes/205973137/delayed
DE : Germany: Frankfurt
17.80
+0.19 +1.07%
Volume: 33,662
June 21, 2021 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€350,787
loading...
US : Pre-Ipo
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/204659678/composite
US : U.S.: Nasdaq
$ 145.66
+0.96 +0.66%
Volume: 3.80M
June 21, 2021 4:00p
P/E Ratio
59.81
Dividend Yield
N/A
Market Cap
$180.42 billion
Rev. per Employee
$911,960
loading...

Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin. Victor Reklaitis is a London-based markets writer for MarketWatch. Follow him on Twitter @VicRek.

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