Europe sees muted trade as Asia retreats – CNBC

8 months ago Comments Off on Europe sees muted trade as Asia retreats – CNBC

One of the best performers in Europe was Telecom Italia, up 3.7 percent. This comes on the back of comments made by Italian and French leaders, who said that they wanted to create major companies that can compete in Europe. Orange’s CEO also said late Monday that he might look into the possibility of a merger deal with Telecom Italia, if billionaire Vincent Bollore invited him to, Reuters reported.

Insurance giant, Prudential saw its 2015 operating profit rise 22 percent,to £4.01 billion ($5.69 billion),and announced that it had hiked its dividend in its latest earnings report. Shares reacted positively, up almost 3 percent. This boosted other firms in the sector, including Unipol and Generali.

Restaurant Group tumbled to the bottom of benchmarks, off over 20 percent after the firm said it would struggle to add sales in 2016, on the back of a softening in consumer demand.

Shares of Deutsche Post was off more than 1 percent despite the express delivery firm reported that earnings before interest and tax (EBIT) reached 957 million euros ($105 million) in the fourth quarter, against the average analyst expectation in a Reuters poll for 943 million euros.

Europe sees muted trade as Asia retreats – CNBC