Share Prices & Company Research

Market News

15 Mar 2021 | 08:11

Europe open: Danone shares rise after CEO departure

(Sharecast News) - European shares started the week higher driven by hopes of a swift economic recovery and the departure of the head of French food company Danone. The pan-European Stoxx 600 index rose 0.58% in early trade with all regional bourses higher.

Sentiment was also boosted by a surge in China's factory and retail sector activity in the first two months of the year, beating expectations, as the economy consolidated its brisk recovery from the coronavirus paralysis of early 2020.

"Investors continue to anticipate speedy economic recoveries as the powerful forces of accelerating vaccine rollouts and significant financial assistance combine," said Richard Hunter, head of markets at interactive investor.

"The prospects for a strong rebound has also seen the continuation of the rotation theme, with more traditional and cyclical stocks the subject of renewed investor interest, and to some extent at the expense of the previously all-firing growth stocks, and big tech in particular."

In equity news, shares in Danone jumped 3.85% after the company's board ousted Emmanuel Faber as its chairman and chief executive due to growing pressure from shareholders.

Flutter Entertainment was up 7.29% as the company confirmed it was mulling a spinoff for its FanDuel unit in the US as it looked to cash in on the growing liberalisation of mobile betting in America.

Shares in carmaker Stellantis gained 3.5% after Deutsche Bank started coverage with a 'buy' rating.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 14th May 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.