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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 -1.93%   /zigman2/quotes/203813176/composite WPP -1.67%  jumped 8.6% after the advertising giant posted earnings that outstripped forecasts.

Accor SA /zigman2/quotes/203800565/delayed FR:AC -3.45%  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 -1.11%  dropped 4.5% after the Swedish bank posted a drop in first-quarter profit.

Glencore PLC /zigman2/quotes/201400686/delayed UK:GLEN -3.26%   /zigman2/quotes/209462106/composite GLCNF -1.56%  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 +0.13%  slipped 0.3% after the boards of Sprint Corp.  and T-Mobile US Inc. /zigman2/quotes/204659678/composite TMUS +0.10%  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
619.60 p
-12.20 -1.93%
Volume: 560,749
Aug. 14, 2020 12:51p
P/E Ratio
11.04
Dividend Yield
3.66%
Market Cap
£7.81 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203813176/composite
US : U.S.: NYSE
$ 41.14
-0.70 -1.67%
Volume: 103,779
Aug. 13, 2020 4:00p
P/E Ratio
11.50
Dividend Yield
3.38%
Market Cap
$10.19 billion
Rev. per Employee
$154,779
loading...
/zigman2/quotes/203800565/delayed
FR : France: Euronext Paris
24.33
-0.87 -3.45%
Volume: 690,278
Aug. 14, 2020 1:52p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€6.52 billion
Rev. per Employee
€18,741
loading...
/zigman2/quotes/201173722/delayed
SE : Sweden: Stockholm
kr 85.78
-0.96 -1.11%
Volume: 1.74M
Aug. 14, 2020 1:52p
P/E Ratio
11.34
Dividend Yield
0.00%
Market Cap
kr187.98 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201400686/delayed
UK : U.K.: London
170.40 p
-5.74 -3.26%
Volume: 11.09M
Aug. 14, 2020 12:52p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£21.46 billion
Rev. per Employee
£1.04M
loading...
/zigman2/quotes/209462106/composite
US : U.S.: OTC
$ 2.30
-0.04 -1.56%
Volume: 9,285
Aug. 13, 2020 2:46p
P/E Ratio
N/A
Dividend Yield
8.71%
Market Cap
$28.02 billion
Rev. per Employee
$1.39M
loading...
/zigman2/quotes/205973137/delayed
DE : Germany: Frankfurt
15.30
+0.02 +0.13%
Volume: 13,574
Aug. 14, 2020 1:51p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€350,787
loading...
/zigman2/quotes/204659678/composite
US : U.S.: Nasdaq
$ 115.37
+0.12 +0.10%
Volume: 3.03M
Aug. 13, 2020 4:00p
P/E Ratio
37.65
Dividend Yield
N/A
Market Cap
$142.66 billion
Rev. per Employee
$832,885
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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