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European stocks fluctuate as DSV acquires Schenker and shipowners decline
DSV shares rose by 7% after raising $5.5 billion to finance the acquisition of Schenker, boosting its earnings forecast. Recordati gained 4% following its acquisition of Sanofi's Enjaymo rights, while Skanska and Groupe Pizzorno also saw increases due to new contracts and positive financial results. Conversely, shipowners Hapag-Lloyd and AP Moller Maersk dropped 12% and 6%, respectively, after the end of a US port strike that had previously inflated shipping prices.
dsv acquires schenkers logistics arm as shipowners face sharp declines
DSV shares surged 7% after raising $5.5 billion for the acquisition of Schenker, boosting its earnings forecast. Recordati gained 4% following its $825 million acquisition of Sanofi's Enjaymo, while Skanska rose 3% after securing multiple contracts in the U.S. Conversely, shipowners Hapag-Lloyd and AP Moller Maersk saw declines of 12% and 6%, respectively, as the end of a U.S. port strike diminished their pricing power.
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