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European Markets

  • Recession fears push European stocks lower - The FTSE Eurofirst slips after PMI data revealing an unexpected contraction in eurozone business activity in February add to worries about Greece
  • Profumo in frame at Monte dei Paschi - Alessandro Profumo, former chief executive of UniCredit and one of Italy’s most high-profile bankers, is frontrunner to take over as chairman of the bank
  • Stepping up UPS’s TNT Express offer - TNT Express shareholders believe a higher than €9 bid will be made by the US logistics company after shares in the Dutch group rose to €10.08
  • European banks fall in nervy trade - European equities edged down on Tuesday as the latest Greek bail-out deal left investors unimpressed
  • Pandora shares tumble on product swap - Danish jeweller allows retailers to swap unsold for better-selling items as company reports 39% drop in fourth-quarter operating profits
  • Proglio’s putsch causes ripples at Veolia - Attempted coup against the world’s biggest water utililty by sales offers a window into the inner workings of France’s grandest boardrooms
  • Turkcell’s owner to find $1.4bn or lose control - Dispute pits Mehmet Karamehmet, Turkey’s richest man, against Alfa Group of Russia and TeliaSonera, the Nordic telecommunications company
  • Bid activity pushes European shares higher - TNT Express jumped 60.5% on Monday after UPS launched a ‘highly attractive’ takeover bid for the Dutch mail group
  • Polish zloty rebounds as eurozone fears ease - Traders sense a value trade and look to short Hungary’s forint against the currency after sentiment turns towards emerging Europe
  • Veolia chief faces boardroom coup - Former mentor Henri Proglio orchestrates attempt to oust Frérot, in a tale of intrigue typical of the highly political nature of big business in France
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