EUROPE MARKETS: European Stocks Slip, But On Track For Weekly Gain
December 24 2015 - 3:51AM
Dow Jones News
By Victor Reklaitis, MarketWatch
PostNL soars amid takeover talk
European stocks mostly edged lower at the start of Thursday's
holiday-shortened session, but still looked set to book gains for
the week.
The Stoxx Europe 600 dipped by 0.3% to 365.47, putting the index
on pace for a weekly advance of 1.2%.
PostNL N.V. (PNLYY) helped limit the drop, as shares in the
Dutch postal operator jumped 13% to 3.68 euros ($4.03) for the
biggest gain among the index's components.
PostNL may see a bid of EUR5 per share from Royal Mail PLC
(RMG.LN) , said a note on Thursday from ING analysts that cited a
Mergermarket article. PostNL has reported record Christmas parcel
volumes, a Post & Parcel article said
(http://postandparcel.info/70176/news/postnl-reports-record-christmas-parcel-volumes/).
On Wednesday, European stocks finished at their highest level in
more than two weeks
(http://www.marketwatch.com/story/european-stocks-leap-as-investors-go-holiday-bargain-hunting-2015-12-23),
as investors picked up battered shares of commodity producers.
Trading volume is expected to be light on Thursday, with
exchanges set to close early for Christmas Eve. Trading in the U.K.
is slated to stop at 12:30 p.m. London time (7:30 a.m. Eastern
Time), and it's scheduled to end in France at 2 p.m. Central
European Time (8 a.m. Eastern Time).
Germany's exchange and some other European markets are shuttered
for the whole day. European stock trading will shut down completely
for Christmas on Friday.
Read: When are European markets closed for Christmas and New
Year's?
(http://www.marketwatch.com/story/when-are-european-markets-closed-for-christmas-and-new-years-2015-12-23)
Among the national indexes on Thursday, France's CAC 40 moved
0.4% lower to 4,654.86, while the U.K.'s FTSE 100 gained 0.1% to
6,248.74. Germany's DAX 30 showed no action as Frankfurt trading
was suspended for Christmas Eve.
(END) Dow Jones Newswires
December 24, 2015 04:36 ET (09:36 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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