European Equities Close Lower in Wednesday Trading; Shell, BP Reportedly in Merger Talks
The European stock markets closed lower in Wednesday trading as The Stoxx Europe 600 was off 0.72%, Germany's DAX was down 0.61%, the FTSE 100 declined 0.46%, France's CAC 40 dropped 0.76%, and the Swiss Market Index lost 0.91%.
In Spain, GDP volume grew 0.6% in Q1 compared with the previous quarter, and 2.8% on an annual basis, compared with 3.3% in Q4 of 2024, according to the Spanish Statistical Institute. Both readings matched analyst forecasts, according to Bloomberg.
In France, households' opinion on their past personal financial situation has remained unchanged in June from May at 88, according to the Institute for Statistics and Economic Studies' consumer confidence index. The index remains well off its historical average of 100.
And in corporate news, Shell is engaged in early talks to acquire rival British oil giant BP, The Wall Street Journal reported Wednesday, citing people familiar with the matter. Representatives from both companies are engaged in active talks, and BP is carefully considering the approach, the people reportedly told The WSJ.
Shell and BP did not immediately reply to requests for comment from MT Newswires.
Shares of Shell and BP were down close to 1% each on the FTSE 100 in London.
Source : MT Newswires
