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European shares dip, multi-billion euro merger caps losses

European stocks slipped into red territory on Tuesday following losses during the Asian trading session amid aggravated geopolitical tensions between the U.S. and Iran after Donald Trump signed a decree introducing new sanctions against Tehran.

Investors avoided resorting to risky assets in connection with U.S. new sanctions imposed against Iran, as well as updated doubts that Beijing and Washington would be able to make some progress during the meeting at the G20 summit.

Trump's statement that he would be “comfortable with any outcome” of talks with China updated concerns about the positive outcome of the meeting of the two leaders at the end of the week at the G20 summit.

The pan-European index Stoxx 600 lost 0.15 percent, to 383.23 at 10.38 GMT.

  • FTSE 100 fell 0.28 percent to 7,395;

  • DAX 30 fell 0.11 percent to 12,261;

  • CAC 40 decreased by 0.17 percent, to 5,512;

  • IBEX 35 lost 0.55 percent, to 9,141;

  • The FTSE MIB lost 0.50 percent, to 21,176.

The fall in European shares was capped by a  multi-billion euro merger of two major consulting companies, CapGemini and Altran Technologies. Shares of the first soared to 7.33 percent, while the value of the securities of the second one increased by 21.97 percent at 10.48 GMT.

This €3.6 billion merger transaction supported the technology sector, which grew by about 0.5 percent.

europe falls 2506 Micro Focus Intl gainsPhoto: Reuters

It is worth noting also other companies whose shares also contributed to curbing the fall of the European stock markets: Micro Focus Intl (+3.97), Admiral Group (+3.69), Evraz (+2.69), Accor (+2.51) , Halma (+2.29), Ashtead Group (+2.26), Fresnillo (+2.24), Bunzl (+2.14), Merck (+1.94), Buzzi Unicem (+1.91) , Dassault Systemes (+1.26), Bayer (+1.24), Infineon Technologie (+1.16), ArcelorMittal (+1.12), Valeo (+1.05), etc.

Significant drop in share prices on Tuesday was observed in such companies as: Publicis Groupe (-5.64), J Sainsbury (-4.77), Tecnicas Reunidas (-4.52), Daimler (-4.43), Tesco (-4 , 31), Telecom Italia (-4.31), Grupo ACS (-4.18), Snam (-3.84), Prysmian (-3.77), Poste Italiane (-3.70), Carrefour (- 3.50), Fresenius Medical Care (-3.43), UBI Banca (-3.42), Terna Rete Elettrica Nazionale (-3.16), Thyssenkrupp (-3.15), IAG (-3.06) , Societe Generale (-3.04), Continental (-2.82), Morrison Supermarkets (-2.57), RWE (-2.51), UniCredit (-2.47), Lloyds Banking Group (-2, 32), E.ON (-2.26), Vodafone (-2.13), Renault (-2.12), Carnival (-2.09), Credit Agricole (-2.07), Peugeot (-2 , 03), Adidas (-1.79), Lufthansa (-1.72), Deutsche Bank (-1.71), BMW (-1.63), Michelin (-1.59), BNP Paribas (-1 , 56), Barclays (-1.44), Easyjet (-1.40), ArcelorMittal (-1.31), Marks & Spencer (-1.19), BP (-1.13), Prudential (-1 , 09), Henkel (-1,07), Wirecard (-1,06), etc.


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