Arab Today, arab today european stocks rise as sabmiller takeover brews
Last Updated : GMT 04:44:39
Arab Today, arab today
Arab Today, arab today

European stocks rise as SABMiller takeover brews

Arab Today, arab today

Arab Today, arab today European stocks rise as SABMiller takeover brews

SABMiller takeover brews
London - AFP

European stock markets advanced Wednesday as investors toasted news that Belgian-Brazilian drinks giant AB InBev was brewing a blockbuster takeover bid for Britain's SABMiller.

London's FTSE 100 index rose 0.72 percent to 6,181.70 points in midday deals, Frankfurt's DAX 30 climbed 0.38 percent to 10,226 points and the CAC 40 in Paris grew 1.10 percent to 4,619.70.

SABMiller's share price rocketed by more than a fifth in London, topping the FTSE risers' board, after it revealed that Anheuser-Busch InBev intended to make a bid.

Shares jumped 20.29 percent to 3,626 pence as investors reacted to the surprise news.

Across in Brussels, AB InBev's share price leapt 8.63 percent to 102.60 euros.

The blockbuster takeover would combine the world's biggest brewer, AB InBev, with the second biggest SABMiller. The pair's combined stock market value is about $245 billion (218 billion euros) according to Tuesday's closing share prices.

A potential deal would bring together AB InBev's Budweiser, Corona and Stella Artois beers with SABMiller's Foster's, Grolsch and Pilsner Urquell.
"These deals always provide a boost to sentiment, especially during such a pessimistic period for the markets," said analyst Craig Erlam at traders Oanda.

"SABMiller is also one of the larger constituents of the FTSE 100 and the world’s second largest brewer so this is a very big deal," Erlam told AFP.

"It will be interesting to see whether the sell-off in the markets over the last month will prompt any more takeover talk which could further boost sentiment in the coming weeks."

European equities were also buoyed on Wednesday by bumper Chinese gains on the eve of a key US interest rate call.

Shanghai stocks soared 4.89 percent, halting a two-day slump as investors returned to the market amid speculation of state-led buying, dealers said.
Wall Street finished with decisive gains Tuesday on modestly higher US retail sales ahead of the Fed's latest monetary policy announcement.

"It's been a strong start for London's FTSE 100 with last night's strong finish on Wall Street and a late spike in Chinese markets just ahead of the close helping drive the gains," said Tony Cross, analyst at dealing group Trustnet Direct.

Swiss miner Glencore meanwhile fell back, reversing earlier gains, after announcing it had raised $2.5 billion via a shares sale as part of its vast debt-slashing plan.

London-listed Glencore said in a statement that it had sold new shares worth about £1.6 billion or 2.2 billion euros in order to pay down debt.

The company, which has lost 57 percent of its market value this year, is grappling with tumbling commodity prices as China's economic slowdown weighs on demand and sparks havoc across markets.

In midday deals, Glencore shares slid 0.66 percent to 127.20 pence.

 

arabstoday
arabstoday

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today european stocks rise as sabmiller takeover brews Arab Today, arab today european stocks rise as sabmiller takeover brews

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today european stocks rise as sabmiller takeover brews Arab Today, arab today european stocks rise as sabmiller takeover brews

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday