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Europe climbs while global stock markets fall

Europe climbs while global stock markets fall

The world’s stock markets are in the red everywhere except in Europe. The Paris Stock Exchange is up, buoyed by announcements of a future takeover bid for Lagardère by Vivendi.

 

After closing higher on Wednesday, Wall Street was down slightly on Thursday around 11:35am. The main indices of the New York Stock Exchange, the Dow Jones and the Nasdaq, lost respectively 0.03% and 0.26%.

 

Faced with the threat of bankruptcy of the Chinese group Evergrande (-6.41%), a giant of real estate, the Asian markets are also down on Thursday. In addition, the announcements of the government of the Chinese special administrative region Macau concerning the regulation of games and casinos, coupled with the pessimistic forecasts of the Chinese economy, worry investors. Hong Kong gave up 1.46%.

 

The market players are becoming increasingly cautious and react to events in China and the evolution of the economy in the United States with more profit-taking,” said Andreas Lipkow, analyst at Comdirect interviewed by AFP.

 

In Europe, the markets are doing better than elsewhere and show solid scores. Around 11:35, Milan took 1.19%, the Paris Stock Exchange gained 1.09%, Frankfurt climbed 0.56% while London advanced by 0.41%.

 

The prize for the biggest increase in the CAC40 goes to the Lagardère group, which took 19.24% to 23.24 euros after the announcement yesterday of a purchase of shares (up to 18%) of the Amber Capital fund by the group specializing in media Vivendi. The group of Vincent Bolloré should launch a takeover bid for Lagardère before the end of the year.

 

The Lagardère group is delighted with the investment project that Vivendi wishes to carry out by acquiring Amber Capital’s stake,” the Lagardère group said in a statement, adding that it would give “its reasoned opinion” on the takeover bid at the appropriate time.

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This sale marks the culmination of a long process, and of an investment strategy whose objectives have been achieved, in terms of governance and strategic choices, for the investor and reference shareholder that we have been. The future belongs to another type of shareholder, an industrial one, which will devote itself to the development of the group. We wish all the success possible to the Lagardère group“, said Olivier Fortesa, managing partner of Amber Capital.

 

Read also> WALL STREET: A MIXED OPENING

 

Featured photo : © Press

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