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