European shares mixed as US job data optimism lose momentum
European shares were mixed at the open on Monday as optimism fueled by data showing a buoyant U.S. labour market last week faded while a flurry of corporate news triggered sharp individual moves.
The pan-European STOXX 600 was down 0.1 per cent at 0841 GMT with regional indexes experiencing a choppy start of the trading session. Germany's Wirecard scored the best performance in early deals with its shares skyrocketing 15 per cent after it said a law firm it appointed made no conclusive findings of criminal misconduct after allegations of irregularities.
Iron ore pellet producer Ferrexpo experienced a sharp move in the opposite direction after its auditors received statements from a charity containing "unexplained discrepancies". Developments in mergers and acquisitions also grabbed traders' attention with Denmark's DSV falling 3.5 per cent after its bid for Panalpina (off 7.4 per cent) hit a roadblock when the Swiss freight forwarder's top shareholder rejected the offer.
In the financial sector, Julius Baer fell more about 5 per cent after announcing cost cuts as profit missed expectations. Ryanair shares were down 3.2 per cent after the Irish budget airline reported a 20 million euro ($22.9 million) loss in the third quarter due to weaker fares which it expects to continue throughout the year.
(With inputs from agencies.)
- READ MORE ON:
- European cuisine
- European Parliament
- European Commission
- This Is Us
- Honda Motor Company
- Pan-European identity
- Commitments of Traders
- Traders Village
- Day trader
- Statutory auditor
- Auditor's report
- European Court of Auditors
- Law firm
- Nazi Germany
- Chancellor of Germany
- East Germany
- Spirit Airlines
- Singapore Airlines
- Southwest Airlines
- Denmark Vesey
ALSO READ
Between the US and a hard place, Germany's Scholz reheats China ties
Russia, Germany, UK urge restraint as Iranian threat puts Middle East on edge
Holocaust survivors in Israel to get additional funds from Germany
Germany's Scholz, Georgia's Kobakhidze clash over foreign-funded NGO law
Police shut down pro-Palestinian gathering in Germany over hate speech fears