Live Markets: STOXX steady; Rheinmetall tumbles, Segro boost real estate

SEGRO

Yesterday 09:56

Adds blog post
STOXX 600 unchanged
Tech steadies ahead of Micron results
Rheinmetall loses frigate order
Segro rejects takeover approach
Nasdaq futures rise 0.5%
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    STOXX STEADY; RHEINMETALL TUMBLES, SEGRO BOOST REAL ESTATE
  
European shares were subdued on Wednesday as markets steadied ahead of memory-chip maker Micron’s results following a global tech selloff, while oil prices fell on signs that more tankers may soon exit the Strait of Hormuz.
The region-wide STOXX 600 .STOXX index was flat, though beneath the surface some stocks posted outsized moves.      Rheinmetall RHMG.DE was on track for its biggest drop on record, down more than 15%, after reports Berlin may cancel a key frigate contract with the defence group in favour of rival TKMS TKMS.DE, a move confirmed by Germany's defence ministry. Among gainers, Segro SGRO.L jumped 15% after the warehouse landlord rejected a $16.6 billion all-share takeover proposal from Prologis PLD.N, with the U.S. group urging Segro shareholders to press the board to engage.  The news lifted other UK property stocks .FTUB3510, helping make real estate .SX86P the top-performing sector in Europe, up 2.5%.  Tech .SX8P steadied, rising 0.3%, while oil and gas .SXEP slipped 0.9%. 
(Danilo Masoni)
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EARLIER ON LIVE MARKETS:
BEFORE THE BELL: EUROPE SOFT AHEAD OF MICRON AFTER TECH ROUT CLICK HERE
TIME TO CASH IN YOUR CHIPS? CLICK HERE