© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

LONDON (Reuters) – European shares slipped on Monday from six-week highs after China’s fourth-quarter growth figures confirmed a slowdown in the world’s second-biggest economy with 2018 its weakest year since 1990.

The pan-European STOXX 600 () fell 0.3 percent by 0825 GMT, in line with Germany’s exporter-heavy DAX (), while Britain’s FTSE 100 () eked out a 0.1 percent gain thanks to strong oil stocks.

With U.S. markets closed for Martin Luther King Day, trading was likely to stay thin, but company news kept investors busy.

German chemicals firm Henkel (DE:), maker of Persil detergent and Schwarzkopf shampoo, was the biggest STOXX 600 faller, down 5 percent after announcing increased investments in new brands, marketing and digitalization.

Shares in online classifieds firm Scout24 (DE:) climbed 3.1 percent after it rejected a 4.7 billion euro ($5.4 billion)takeover offer from private equity firms Hellman & Friedman and Blackstone (NYSE:), potentially paving the way for a bidding war.

The world’s largest brickmaker, Wienerberger (VI:), edged up 0.4 percent after the firm raised its dividend, saying it would reach the upper end of its 2018 earnings guidance thanks to acquisitions and cost savings.

Just Eat (L:) shares fell 2.3 percent after the online food delivery company announced its CEO Peter Plumb was leaving with immediate effect and issued a trading update.

Broker notes moved some stocks: Air France (PA:) shares climbed 4 percent after Davy Research upgraded the airline to outperform, while Fraport (DE:) gained 2.8 percent after Goldman Sachs (NYSE:) raised it to neutral from sell.

Deutsche Telekom (DE:) fell 2.5 percent after Berenberg cut the stock to a “sell”.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

2019-01-21