Live Markets: STOXX off to quiet start; Bank of Ireland hit

Tele2 AB

26/02/2024 09:42

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      STOXX 600 down 0.4%
    

        * 
      Bank of Ireland guidance disappoints
    

        * 
      Iliad to buy stake in Tele2 
    

        * 
      U.S. futures inch lower
    

  
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    STOXX OFF TO QUIET START; BANK OF IRELAND HIT
    European shares were off to a quiet start on Monday with the
STOXX 600  .STOXX  falling by 0.4% as a four-week rally that has
taken the region-wide index to new record peaks paused ahead of
crucial U.S. inflation data later in the week.
    A weaker-than-expected outlook from Ireland's biggest lender
Bank of Ireland  BIRG.I  sent the shares down 10%, taking the
shine off a more than tripling shareholder returns on the back
of surging full-year profits. 
    On a positive note, Danish drugmaker Zealand Pharma
 ZELA.CO  popped 20% after an experimental obesity treatment
yielded "groundbreaking" trial results. 
    Tele2  TEL2b.ST  was another outstanding gainer, up 9% in
Stockholm after Iliad agreed to take a stake in the telecoms
group.
    Over in the UK, a takeover battle for Wincanton  WIN.L  sent
shares rallying over 11%. 
    UK housebuilders were a weak spot. The antitrust regulator
started an investigation after finding evidence that some firms
may be sharing commercially sensitive information.  
    Basic resources  .SXPP  were the biggest sectoral drag, down
1.7% as a firmer dollar weighed on copper prices.
    Here is your opening snapshot:   
        
    (Danilo Masoni)
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    FOR MONDAY'S OTHER LIVE MARKET POSTS:
    EUROPEAN STOCK FUTURES EDGE LOWER; M&A IN FOCUS CLICK HERE
    MARKETS BRACE FOR INFLATION TRIFECTA CLICK HERE

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