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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 -1.55%   /zigman2/quotes/203813176/composite WPP -1.69%  jumped 8.6% after the advertising giant posted earnings that outstripped forecasts.

Accor SA /zigman2/quotes/203800565/delayed FR:AC -0.63%  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 +0.04%  dropped 4.5% after the Swedish bank posted a drop in first-quarter profit.

Glencore PLC /zigman2/quotes/201400686/delayed UK:GLEN -1.79%   /zigman2/quotes/209462106/composite GLCNF -1.97%  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 -1.31%  slipped 0.3% after the boards of Sprint Corp. /zigman2/quotes/208685669/composite S -2.47%  and T-Mobile US Inc. /zigman2/quotes/204659678/composite TMUS -0.42%  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
930.00 p
-14.60 -1.55%
Volume: 2.09M
July 30, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
2.58%
Market Cap
£11.11 billion
Rev. per Employee
£120,232
loading...
/zigman2/quotes/203813176/composite
US : U.S.: NYSE
$ 64.70
-1.11 -1.69%
Volume: 111,452
July 30, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
2.51%
Market Cap
$15.45 billion
Rev. per Employee
$154,181
loading...
/zigman2/quotes/203800565/delayed
FR : France: Euronext Paris
29.86
-0.19 -0.63%
Volume: 914,406
July 30, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€7.82 billion
Rev. per Employee
€106,316
loading...
/zigman2/quotes/201173722/delayed
SE : Sweden: Stockholm
kr 116.55
+0.05 +0.04%
Volume: 2.14M
July 30, 2021 5:29p
P/E Ratio
11.29
Dividend Yield
3.52%
Market Cap
kr252.46 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201400686/delayed
UK : U.K.: London
323.55 p
-5.90 -1.79%
Volume: 26.48M
July 30, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
2.67%
Market Cap
£43.11 billion
Rev. per Employee
£765,499
loading...
/zigman2/quotes/209462106/composite
US : U.S.: OTC
$ 4.47
-0.09 -1.97%
Volume: 13,613
July 30, 2021 1:49p
P/E Ratio
N/A
Dividend Yield
2.68%
Market Cap
$59.94 billion
Rev. per Employee
$981,641
loading...
/zigman2/quotes/205973137/delayed
DE : Germany: Frankfurt
17.50
-0.23 -1.31%
Volume: 28,715
July 30, 2021 8:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€350,787
loading...
/zigman2/quotes/208685669/composite
US : U.S.: NYSE
$ 49.31
-1.25 -2.47%
Volume: 2.36M
July 30, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$12.50 billion
Rev. per Employee
$109,478
loading...
/zigman2/quotes/204659678/composite
US : U.S.: Nasdaq
$ 144.02
-0.61 -0.42%
Volume: 6.60M
July 30, 2021 4:00p
P/E Ratio
46.06
Dividend Yield
N/A
Market Cap
$179.57 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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