Shares of Austrian construction firm Porr AG dropped sharply after its largest shareholder, IGO Industries Group, sold a portion of its holdings, increasing the stock's free float amid broader market headwinds.
The UAE-based telecom operator will sell its entire holding in Vodafone to an investment vehicle controlled by French billionaire Xavier Niel, a deal that sent its stock to a four-month high.
Shares of Persistent Systems rose alongside other Indian IT stocks after industry bellwether Tata Consultancy Services reported better-than-expected quarterly results, boosting investor confidence in enterprise tech spending.
Jefferies has cut its rating on Watches of Switzerland to 'Hold' from 'Buy,' citing limited room for further valuation growth despite raising its price target. The downgrade sent the luxury retailer's shares down more than 3% in trading.
Private equity firm Apollo Global Management has agreed to acquire British airline easyJet for £5.7 billion, topping a rival bid and sending the carrier's shares soaring nearly 14%.
Berenberg has cut its rating on the medical technology firm to Hold from Buy, citing poor earnings momentum, a prolonged spin-off from Siemens AG, and challenges in its Diagnostics division.
JPMorgan upgraded Voestalpine, Salzgitter, and ArcelorMittal, citing new EU tariff-rate quotas that are expected to significantly boost demand for domestic steel producers and drive a price recovery.
Shares of the Austrian steelmaker jumped over 6% after a JPMorgan analyst raised the stock's rating from Underweight to Overweight, citing the positive impact of new EU steel import quotas and tariffs.
Shares of the world's largest steelmaker jumped after JPMorgan upgraded the stock to Neutral, citing a structural shift in the European steel market driven by new, stricter EU import tariffs.
