European stocks on Tuesday closed their trading at an unprecedented rise, and the German company Delivery Hero achieved the largest jump ever after selling its unit in Taiwan (Food Panda), despite the continued state of anticipation related to interest rates. The European stoxx 600 index rose 0.18 percent, led by the auto sector index, which rose 1.4 percent. Delivery Hero shares jumped 26.3 percent after Uber announced an agreement worth $1.25 billion to acquire Food Panda, a subsidiary of the German company in Taiwan, in addition to purchasing new shares in the company. Volkswagen shares gained 2.6 percent, after a report showed that the company is exploring opportunities to sell shares worth about $1.08 billion in its unit specialized in manufacturing heavy trucks, Traton. After strong gains last week, traders remain in a state of anticipation for the second day, waiting for signs of when to cut interest rates in the United States. Banking stocks rose more than 1 percent, with Société Générale rising 3.7 percent after French President Emmanuel Macron said in a television interview that the European banking sector needs further consolidation, even if that means buying a major French bank from a competitor European bank. The travel and entertainment sector was the most affected, with Flutter shares falling by about 2 percent after the largest online betting company in the world kept its forecasts for the full year unchanged. Source: Qatar News Agency
Related Posts
Industrial Output of China’s Non-ferrous Metals Industry Rises in H1 2024
The value-added industrial output of China’s non-ferrous metals industry rose by 10.8 percent year on year in the first half (H1) of 2024, with the growth rate being 4.8 percentage points higher than the country’s general value-added industrial output…
National Statistics Center: 466 Building Permits Issued in April 2024
Doha: National Statistics Center data showed that 466 building permits were issued in April 2024, a decrease of 38% when compared with those issued in Mrach 2024 which saw the issuance of 747 building permits.
Comparing number of permits issued in Ap…
Television Advertising Market Report 2021-2026: Industry Size, Analysis
Published by Newstrail As per the latest report by IMARC Group, titled “Television Advertising Market: Global Industry Trends, Share, Size,…