• European equities edge lower
• WHO warns of a surge in COVID-19 cases across Europe
• M&A news lifts Covestro (1COV.DE) stock higher
• WHO warns of a surge in COVID-19 cases across Europe
• M&A news lifts Covestro (1COV.DE) stock higher
European stocks are trading mostly lower as investors remain concerned over a surging number of new coronavirus cases. The World Health Organization warned that Europe's weekly COVID-19 infections are now higher than the region's first coronavirus peak back in March, urging for a reimplementation of lockdown measures in certain regions. Madrid will implement new restrictions on movement in order to contain the spread of the virus, which regional authorities say will take effect either on Saturday or Monday. Travel and tourism-related stocks fell across the region. Meanwhile, deal news was lifted shares of Covestro, Euronext and Caixa Bank. On the data front, U.K. retail sales rose 0.8% on the month in August, slightly better than analysts' expectations 0.7%, but still a sharp slowdown from the 3.7% growth seen in July.
DE30 - has been trading in a tight range recently. Buyers struggle to break above the resistance at 13300 pts while the upward trend line halts the declines. In case of a break higher, the next resistance is located at 13,570 pts. On the other hand if sellers manage to take control on the market, then next support can be found at 12160 pts. Source:xStation5
DAX members at 12:50 pm BST. Source: BloombergApollo Global Management Inc., the buyout firm led by billionaire Leon Black, is considering potential takeover of Covestro AG (1COV.DE), according to people with knowledge of the matter. Talks are at an early stage, and there’s no certainty they will result in a transaction. Both sides did not provide any official comments.
Covestro AG (1COV.DE) – stock launched today’s session with a bullish price gap and is currently testing major resistance at € 48.20. Should buyers manage to uphold momentum then next resistance at € 52.58 may come into play. However, should sellers regain control, support at € 43.20 could be at risk. Source:xStation5Deutsche Boerse (DB1.DE) informed on Thursday that it considering acquisition of majority stake in fintech Quantitative Brokers for an undisclosed sum.
Siemens Foundation (SIE.DE) and Siemens Healthineers (SHL.DE) joined forces with nonprofit organization Testing for America to donate nearly $3M in funding and COVID-19 Testing Technologies to support the safe reopening of historically black colleges and universities (HBCU).
