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Aug. 31, 2021, 7:12 a.m. EDT

European stocks on track for seventh month of gains; Arkema, Prosus rise after deals

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By Steve Goldstein

European stocks advanced on Tuesday, as they look to record a seventh straight month of gains.

In midday trade, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.07% rose 0.2% to 473.75, taking August gains to over 2%. The index has gained 20% since closing lower for January.

Of the major regional indexes, the German DAX /zigman2/quotes/210597999/delayed DX:DAX +0.36% rose 0.6%, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.31% increased 0.2%, while the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.25% declined 0.2%.

The biggest Stoxx 600 gainer was Arkema /zigman2/quotes/200304947/delayed FR:AKE +1.77% , which rose 6% after the French chemicals company agreed to buy the performance adhesives business of Ashland Global Holdings /zigman2/quotes/200179497/composite ASH -0.63% for $1.65 billion. Arkema says the deal will boost earnings from the first year of integration and will boost its profit margin for 2024.

Prosus /zigman2/quotes/214038022/delayed NL:PRX -2.80% was also up, with the technology investor rising 5% after its deal to buy India’s BillDesk for $4.7 billion. Prosus was also buoyed by a 3% rise in Tencent /zigman2/quotes/204605823/delayed HK:700 -0.88% , in which it has a 29% stake.

The biggest Stoxx 600 faller was International Consolidated Airlines Group /zigman2/quotes/208070069/delayed UK:IAG +0.18% , which fell 3% as the European Union voted to reimpose limitations on U.S. travel to the Continent.

/zigman2/quotes/210599654/delayed
XX : STOXX
472.21
+0.33 +0.07%
Volume: 0.00
Oct. 25, 2021 5:50p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,599.23
+56.25 +0.36%
Volume: 51,296
Oct. 25, 2021 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,712.87
-20.82 -0.31%
Volume: 58,586
Oct. 25, 2021 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,222.82
+18.27 +0.25%
Volume: 496,731
Oct. 25, 2021 4:58p
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/zigman2/quotes/200304947/delayed
FR : France: Euronext Paris
117.80
+2.05 +1.77%
Volume: 120,431
Oct. 25, 2021 5:35p
P/E Ratio
8.50
Dividend Yield
2.12%
Market Cap
€8.76 billion
Rev. per Employee
€383,165
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/zigman2/quotes/200179497/composite
US : U.S.: NYSE
$ 97.21
-0.62 -0.63%
Volume: 276,273
Oct. 25, 2021 3:58p
P/E Ratio
31.28
Dividend Yield
1.23%
Market Cap
$5.94 billion
Rev. per Employee
$516,889
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/zigman2/quotes/214038022/delayed
NL : Netherlands: Euronext Amsterdam
76.64
-2.21 -2.80%
Volume: 1.82M
Oct. 25, 2021 5:35p
P/E Ratio
19.88
Dividend Yield
0.18%
Market Cap
€162.64 billion
Rev. per Employee
€183,400
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/zigman2/quotes/204605823/delayed
HK : Hong Kong
$ 505.00
-4.50 -0.88%
Volume: 12.26M
Oct. 25, 2021 4:08p
P/E Ratio
22.20
Dividend Yield
0.32%
Market Cap
$4853.29 billion
Rev. per Employee
$10.55M
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/zigman2/quotes/208070069/delayed
UK : U.K.: London
156.34 p
+0.28 +0.18%
Volume: 16.06M
Oct. 25, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£7.74 billion
Rev. per Employee
£120,743
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