FX & CFD trading involves significant risk
European stocks retreated amid sales of stakes in companies from TDC A/S to Safran SA.
TDC lost 2.3 percent to 44.38 kroner after NTC Holding sold a 2.49 billion-kroner ($428 million) stake in Denmark’s largest phone company. UBS AG placed the 56.3 million shares via an accelerated bookbuild at 44.27 kroner apiece. NTC also sold a 15 percent stake in TDC in February.
Safran declined 2.6 percent to 34.57 euros as France’s finance ministry said it sold shares in Europe’s second-biggest maker of aircraft engines. Societe Generale SA placed the shares at 34.50 euros apiece, according to an update sent to clients that was obtained by Bloomberg News. The stock closed at 35.49 euros yesterday. France owned about 30 percent of the company at the end of last year, according to Safran’s website.
Belgacom slid 1.9 percent to 19.22 euros as Belgian newspaper De Tijd said the government has considered selling stakes in some of its assets to help keep the national debt below 100 percent of gross domestic product.
The state may sell a 3.5 percent stake in the mobile-phone operator as well as its holdings in BNP Paribas. Belgium owns 10 percent of France’s largest bank, according to data compiled by Bloomberg. BNP Paribas retreated 3.2 percent to 39.09 euros.
FTSE 100 6,365.7 -33.67 -0.53%
CAC 40 3,703.84 -44.80 -1.20%
DAX 7,818.25 -61.42 -0.78%
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.