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European Equities Lower in Friday Trading; Unilever Weighs Offer for Thorne Valued at Up to $4 Billion

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European stock markets were tracking lower Friday, with the Stoxx600 shedding 0.9%, Germany's DAX falling 1.3%, the FTSE 100 decreasing 0.1%, and France's CAC down 0.8%.

Stock markets in the region were reportedly pressured by a global tech sell-off after media outlets said that US-based OpenAI may delay its much-anticipated IPO until next year.

In corporate news, Unilever is considering a bid for Thorne, a South Carolina-based company that sells dietary supplement pills, valued at up to $4 billion, the Financial Times reported. Several other companies are exploring a potential deal for Thorne, which has been put up for sale by its private equity owner L Catterton, the report said. Unilever shares were up 0.6% in London.

Volkswagen CEO Oliver Blume is planning a restructuring of the carmaker that could cut 100,000 jobs, German media outlet CORRECTIV reported. Volkswagen shares were down 3.3% in Frankfurt.

TotalEnergies said Thursday the Paris Judicial Court rejected a bid by environmental groups and the City of Paris to block new oil and gas projects or force production cuts under France's duty of vigilance law. The company said the court ruled that the law does not hold companies liable for climate risks arising from all human activity or authorize courts to set emissions reduction targets. TotalEnergies shares were down 1.4% in Paris.

Sanofi is facing an antitrust probe by the European Commission over a suspected breach of EU competition rules through an alleged misleading communication campaign, the regulator said Friday. The Commission said it is concerned that Sanofi carried out a communication campaign that "disparages" the only competitor flu vaccine recommended for vulnerable patients with risk factors. Sanofi shares were up 1.4% in Paris.

AstraZeneca said Friday that Datroway, jointly developed with Daiichi Sankyo, was recommended for European Union approval as a treatment of unresectable or metastatic triple-negative breast cancer patients who are not candidates for immunotherapy. AstraZeneca shares were up 1.8% in London.

Kyivstar signed a memorandum of cooperation with Ukraine's National Securities and Stock Market Commission to support the development of the country's capital markets and expand investment opportunities for local investors, the company said Friday. Under the agreement, the company said the parties will assess regulatory and legal mechanisms that could allow its Nasdaq-listed shares to become accessible to investors in Ukraine via local brokerage channels.

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Asia Markets

Exchange-Traded Funds, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM rose while IVV fell. Actively traded Invesco QQQ Trust (QQQ) added 0.5%.US equity indexes were mixed Thursday afternoon, with strong Q3 results from Micron Technology (MU) sending the stock up sharply while failing to lift the technology sector.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.7%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.4%; iShares US Technology ETF (IYW) rose 0.3%, and iShares Expanded Tech Sector ETF (IGM) was up 0.5%.The State Street SPDR S&P Semiconductor (XSD) added 1.9%, and iShares Semiconductor (SOXX) rose 3.4%.FinancialThe State Street Financial Select Sector SPDR (XLF) eased 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) rose 0.6%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 0.6%.CommoditiesCrude oil added 1.8%, and the United States Oil Fund (USO) gained 2.1%. Natural gas advanced 1.3%, and the United States Natural Gas Fund (UNG) was up 0.4%.Gold on Comex added 1.1%, and the State Street SPDR Gold Shares (GLD) rose 0.9%. Silver was up 0.7%, and iShares Silver Trust (SLV) climbed up 1.7%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) slipped 0.6%. The Vanguard Consumer Staples ETF (VDC) fell 0.8%, and iShares Dow Jones US Consumer Goods (IYK) eased 0.1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) shed 1.2%. VanEck Retail ETF (RTH) fell 1.2%, and the State Street SPDR S&P Retail (XRT) was down 0.9%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1.6%, iShares US Healthcare (IYH) added 1.6%, and Vanguard Health Care ETF (VHT) was up 1.6%. IShares Biotechnology ETF (IBB) gained 1.4%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) advanced 2%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) lost 1.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 1.4%, ProShares Ether ETF (EETH) was down 1.7%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.6% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Asia Markets

Swiss Blue-chip Index Remains in Green; DocMorris Shares Rise

The blue-chip Swiss Market Index was up 0.81% on Thursday's close, stretching its winning streak to a fourth day, as investors mulled over the latest economy-related data and corporate releases.The International Monetary Fund expects Switzerland's gross domestic product to grow 1.1% in 2026, supported by strong housing demand, recent real wage gains, and the Swiss National Bank's (SNBN.SW) accommodative monetary policy. For 2027, economic growth is projected to pick up to 1.2%. The country's inflation rate is anticipated to remain subdued between 0.6% and 0.7% over the 2026 to 2028 period.Across the pond in the US, the annual PCE price index rose 4.1% year over year in May from 3.8% a month before, according to data from the Bureau of Economic Analysis. Meanwhile, the US economy expanded at an annual rate of 2.1% in the first quarter, the bureau's third estimate showed.On the tariffs front, the European Council gave its final approval on the trade agreement signed by the European Union and the US in August 2025. The adopted regulations also contain provisions that would suspend the deal if the US "does not respect its commitments, undermines the objectives of the Joint Statement, or otherwise disrupts balanced trade relations, including through discriminatory measures."Over to corporates, the Swiss government's proposed changes to capital rules, including increasing systemically important bank UBS Group's (UBSG.SW) common equity tier 1 capital, received support from the IMF. The Swiss banking group's shares closed the trading session 1.09% higher."Implementation of the Too Big To Fail (TBTF) package, continued strengthening of financial sector supervision, and enhancing the macroprudential framework will deepen resilience," the IMF said in a concluding statement following an official staff visit. "The proposal to require G-SIBs in Switzerland to fully back foreign subsidiaries with CET1 capital is targeted, commendable, and in line with [Financial Sector Assessment Program] recommendations."DocMorris (DOCM.SW) plans to cut at least 100 full-time positions across the group as it implements its "AI-first" strategy as part of its operational efficiency measures. The Swiss online pharmacy expects the measures to result in annual recurring savings of at least 15 million francs, fully phased in by 2027-end. The stock was 2.97% in the green at closing.

^SSMI$DOCM.SW$UBSG.SW
Asia Markets

London Shares Gain; EasyJet Climbs After Rejecting Takeover Offer

The UK's FTSE 100 closed 0.72% higher on Thursday as the gradual increase in crude flows through the Strait of Hormuz eased pressure on the commodity markets."Markets are in a buoyant mood this morning, with Brent crude oil prices finally back at their pre-conflict levels. They've fallen another -1.70% overnight to $72.49/bbl, which is almost exactly in line with their $72.48/bbl level immediately before the US and Israel began their strikes on Iran on February 28... The oil price decline has eased fears about a stagflationary shock and aggressive rate hikes to deal with any inflation," Deutsche Bank Research said.Meanwhile, Britain's total vehicle manufacturing rose 2.7% year over year to 51,178 units in May, rebounding for the first time in 2026, the Society of Motor Manufacturers and Traders said. Car production climbed 3.2% to 49,249 units after four months of decline, while commercial vehicle output dropped 7.6% to 1,929 units."May's growth is welcome, and the priority must be to turn this into a sustained recovery by making the UK more competitive as a place to make and sell vehicles. That means reducing industrial costs, maintaining free and open trade with the EU, and ensuring the ZEV mandate reflects market reality," SMMT Chief Executive Mike Hawes said.The Confederation of British Industry distributive trade survey's retail sales balance fell to -54% in June from -46% in the previous month, missing the consensus estimate of -41%."Retailers reported a gloomy start to the summer, with sales disappointing relative to seasonal norms to the greatest extent in over two years amid depressed consumer sentiment and rising cost pressures," CBI Lead Economist Martin Sartorius said. "Businesses need clarity and stability at a time when confidence remains fragile. As government transitions to a new Prime Minister, the focus must remain on creating the conditions for growth by tackling the cost of doing business."On the corporate side, budget airline easyJet (EZJ.L) soared 6.51% after its board unanimously rejected a fourth takeover proposal from Castlelake. The alternative investment company offered 6.50 pounds sterling in cash for each easyJet share, including a partial equity alternative.Moonpig Group (MOON.L), a constituent of the FTSE 250 Index, climbed 3.57% after swinging to an attributable profit of 51.7 million pounds in fiscal 2026, from a loss of 11.1 million pounds a year ago. Berenberg also affirmed its buy rating for the online greeting card and gifting platform, noting the company delivered "another impressive year."

FTSE 100$EZJ.L$MOON.L