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UPDATE 2-European shares recover from worst session in two months; UMG soars in debut

Tue, 21st Sep 2021 08:52

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)

* Travel, media, mining, energy stocks lead gains

* German shares rebound from two-month lows

* Focus on U.S. Fed, other central bank meetings

* UMG surge gives it market cap of $54 billion
(Adds comments, updates prices throughout)

By Sagarika Jaisinghani and Shreyashi Sanyal

Sept 21 (Reuters) - European shares rose on Tuesday after
their biggest fall in two months on easing worries about the
spillover from the crisis at China's Evergrande, while music
label Universal Music Group soared 35% in its stock market
debut.

The pan-European STOXX 600 was up 1.0% after
sinking to a two-month low in the previous session.

Travel & leisure, media, mining and
energy stocks led gains, while Germany's DAX
rebounded from its lowest level since late July.

"European markets have been much more adept at holding on to
their gains today than their U.S. counterparts," said Chris
Beauchamp, chief market analyst at IG.

Travel-related stocks including British Airways-owner IAG
, cruiseliner Carnival Corp and InterContinental
Hotels Group jumped between 2% and 5% following the
relaxation of U.S. travel curbs.

M&A activity on Tuesday also boosted sentiment. Shares of
British sports betting and gambling company Entain Plc
surged 18.0% on a report that U.S. sports betting firm
DraftKings made a $20 billion cash-and-stock offer to
buy the company.

Britain's National Express rose 7.6% after rival
Stagecoach Group said it was in talks with National
Express about a possible all-share merger.

Stagecoach's shares jumped 27.0%.

Universal Music Group, the business behind singers
such as Lady Gaga, Taylor Swift and The Weeknd, surged 35.7% in
its first day of trading, giving it a market capitalisation of
more than 46 billion euros ($54 billion).

Shares of owner Vivendi soared 67.2%.

Global markets were roiled on Monday by concerns the
potential default by Evergrande, the world's biggest property
developer, could hurt China's real estate sector, banks and the
global economy.

Evergrande, struggling for cash, owes $305 billion.

Focus this week is also on policy meetings at a slate of
central banks, including the U.S. Federal Reserve, with
investors expecting some of them to indicate they are ready to
ease their pandemic-era stimulus to combat high inflation.

"Evidently investors there are concerned that the tapering
announcement may come with hints of what the Fed might do next
regarding rate increases as well, something much more concerning
for markets," IG's Beauchamp said.

Europe's benchmark STOXX 600 has fallen from record highs in
September after seven straight months of gains on fears of
persistently high COVID-19 cases and signs of a slowdown in the
global economic recovery.

Sweden's gardening power tools group Husqvarna
tumbled 6.9% after warning it could potentially lose top line
sales of up to 2 billion crowns ($230.7 million) due to a
supplier dispute.
(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by
Arun Koyyur and Emelia Sithole-Matarise)

More News
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National Express announces name change to Mobico Group

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3 May 2023 14:51

UK shareholder meetings calendar - next 7 days

Thursday 4 May 
AIB Group PLCAGM
Aviva PLCAGM
Aviva PLCGM re capital reduction
BAE Systems PLCAGM
Bivictrix Therapeutics PLCAGM
Domino's Pizza Group PLCAGM
Glanbia PLCAGM
Grafton Group PLCAGM
Hammerson PLCAGM
Howden Joinery Group PLCAGM
Hurricane Energy PLCCourt Meeting & GM re takeover by Prax Exploration & Production PLC  
Indivior PLCAGM
IMI PLCAGM
Irish Residential Properties REIT PLCAGM
ITV PLCAGM
Jardine Matheson Holdings LtdAGM
Johnson Service Group PLCAGM
LungLife AI IncAGM
Mincon Group PLCAGM
Mondi PLCAGM
Moneysupermarket.com Group PLCAGM
Morgan Sindall Group PLCAGM
Spirent Communications PLCAGM
Personal Group Holdings PLCAGM
Phoenix Group Holdings PLCAGM
Rathbones Group PLCAGM
SIG PLCAGM
Ten Entertainment Group PLCAGM
Travis Perkins PLCAGM
Witan Investment Trust PLCAGM
Friday 5 May 
abrdn Smaller Companies Income Trust PLCAGM
Holders Technology PLCAGM
HSBC Holdings PLCAGM
InterContinental Hotels Group PLCAGM
James Fisher & Sons PLCAGM
Man Group PLCAGM
Rightmove PLCAGM
UK Oil & Gas PLCAGM
Monday 8 May 
no events scheduled 
Tuesday 9 May 
Caledonia Mining Corp PLCAGM
Direct Line Insurance Group PLCAGM
Foxtons Group PLCAGM
Hostelworld Group PLCAGM
IWG PLCAGM
Just Group PLCAGM
Midwich Group PLCAGM
Osirium Technologies PLCAGM
Windward LtdAGM
Wednesday 10 May 
abrdn PLCAGM
Antofagasta PLCAGM
Cenkos Securities PLCAGM
Ecora Resources PLCAGM
H&T Group PLCAGM
Harbour Energy PLCAGM
Jupiter Fund Management PLCAGM
Literacy Capital PLCAGM
Luceco PLCAGM
Marshalls PLCAGM
National Express Group PLCAGM
Renewables Infrastructure Group LtdAGM
Rentokil Initial PLCAGM
Seplat Energy PLCAGM
Spirax-Sarco Engineering PLCAGM
TClarke PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
19 Apr 2023 12:15

LONDON MARKET MIDDAY: Stocks falter on US hike expectations and UK CPI

(Alliance News) - London's FTSE 100 traded lower on Wednesday at midday, hurt by a stubbornly high UK inflation reading and expectations for more interest rate hikes by both the Bank of England and the US Federal Reserve.

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19 Apr 2023 08:19

National Express quarterly revenue rises; begins cost-saving programme

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19 Apr 2023 07:18

UK, German help drive rise in National Express Q1 revenue

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6 Apr 2023 15:43

UK dividends calendar - next 7 days

Friday 7 April 
Safestore Holdings PLCdividend payment date
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Barratt Developments PLCex-dividend payment date
RIT Capital Partners PLCex-dividend payment date
Tuesday 11 April 
Dunelm Group PLCdividend payment date
Gore Street Energy Storage Fund PLCdividend payment date
Hays PLCdividend payment date
JPMorgan Global Growth & Income PLCdividend payment date
Mobius Investment Trust PLCdividend payment date
Renishaw PLCdividend payment date
Ricardo PLCdividend payment date
Wednesday 12 April 
Assura PLCdividend payment date
Goodwin PLCdividend payment date
LondonMetric Property PLCdividend payment date
Personal Assets Trust PLCdividend payment date
Schroder European Real Estate Investment Trust PLCex-dividend payment date
Thursday 13 April 
Alfa Financial Software Holdings PLCspecial ex-dividend payment date
Alpha FX Group PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCex-dividend payment date
Capital & Regional PLCex-dividend payment date
Carr's Group PLCex-dividend payment date
Dechra Pharmaceuticals PLCdividend payment date
DFS Furniture PLCex-dividend payment date
Diageo PLCdividend payment date
Foxtons Group PLCex-dividend payment date
Franchise Brands PLCex-dividend payment date
Grafton Group PLCex-dividend payment date
GSK PLCdividend payment date
Harbour Energy PLCex-dividend payment date
ITV PLCex-dividend payment date
Johnson Service Group PLCex-dividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
JPMorgan Japan Small Cap Growth & Income PLCex-dividend payment date
Just Group PLCex-dividend payment date
Kenmare Resources PLCex-dividend payment date
Kerry Group PLCex-dividend payment date
Kingspan Group PLCex-dividend payment date
Law Debenture Corp PLCdividend payment date
Lloyds Banking Group PLCex-dividend payment date
Manchester & London Investment Trust PLCex-dividend payment date
National Express Group PLCex-dividend payment date
Old Mutual Ltdex-dividend payment date
Persimmon PLCex-dividend payment date
Rotork PLCex-dividend payment date
Scottish American Investment Company PLCdividend payment date
Smurfit Kappa Group PLCex-dividend payment date
Softcat PLCex-dividend payment date
TP ICAP Group PLCex-dividend payment date
Trifast PLCdividend payment date
Unite Group PLCex-dividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
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Liberum cuts National Express to 'sell' on leverage woes

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2 Mar 2023 16:54

LONDON MARKET CLOSE: FTSE 100 higher as CRH shines, sterling weakens

(Alliance News) - Stocks in London were largely, but tentatively, higher at the close on Thursday, with the FTSE 100 boosted by a strong performance from building materials firm CRH and a weaker pound.

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