The UK's Takeover Panel has granted an extension for a consortium led by U.S. investment firms KKR and Energy Capital Partners to make a formal offer for Irish energy distributor DCC. The new deadline for the proposed £5.7 billion deal is now July 15.
Gasoline refining margins in Northwest Europe fell sharply on Wednesday, dropping by more than $7 per barrel as global oil prices jumped over 5% amid rising geopolitical tensions.
Italian stocks ended Wednesday's trading session in negative territory, with the Investing.com Italy 40 index declining by 1.31%. The downturn was driven by significant losses in the Financials, Industrials, and Healthcare sectors.
Portugal's benchmark stock index, the PSI, ended Wednesday's trading session 1.77% lower, driven by significant losses in the Financials, Consumer Services, and Industrials sectors.
Italian bank UniCredit has disclosed it now owns 48% of Germany's Commerzbank, a significant step in its €45 billion hostile takeover attempt. The move intensifies a nearly two-year battle for control of the German lender amid political and corporate opposition.
European stock markets recorded their steepest one-day drop since mid-March on Wednesday, rattled by renewed Middle East tensions and a specific trade threat from U.S. President Donald Trump against Spain. The pan-European STOXX 600 index fell 1.8%, with Spain's IBEX index tumbling 2.7%.
The head of Germany’s VDA automotive lobby has warned that carmakers face further job reductions and factory closures due to high costs and intense competition. The industry must restructure to regain its competitive edge, particularly against expanding Chinese manufacturers.
According to reports, Chinese regulators are preparing to allow major tech firms to purchase a limited quantity of Nvidia's H200 AI chips under strict conditions. The move signals a potential easing of a blockade that has impacted China's AI development.
Stocks in Morocco finished lower at the close of trading on Wednesday, with the Moroccan All Shares index falling 0.93%. The decline was driven by losses in the Utilities, Banking, and Mining sectors.
