European Movers: Thyssenkrupp AG (TKA GY) +3.0%, Leonardo (LDO IM) +2.1%, Siemens (SIE GY) +1.6%, NatWest (NWG LN) -2.4%, Shell (SHEL LN) -2.2%
Thyssenkrupp's potential phased sale of its steel division to Jindal Steel could significantly alleviate its pension liabilities, which is a crucial factor for investor confidence in the stock.
China preliminary retail car sales -13% Y/Y, via PCA
Bluescope (BSL AT) rejects takeover offer by SGH and Steel Dynamics (STLD), Bloomberg reports
European Movers: Thyssenkrupp AG (TKA GY) +3.0%, Leonardo (LDO IM) +2.1%, Siemens (SIE GY) +1.6%, NatWest (NWG LN) -2.4%, Shell (SHEL LN) -2.2%
EUROPEAN OPEN: SHEL LN to acquire Angola blocks from CVX; TKA GY could sell TKSE to Jindal; RKT LN special dividend; ALC SW terminates merger with STAA; ORSTED DC sues US over Sunrise Wind construction halt; EZ inflation, US ADP jobs and JOLTS ahead
China's December Gold Reserves: USD 319.45bln (prev. 310.65bln)
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- Thyssenkrupp AG (TKA GY) - Thyssenkrupp could sell its steel division TKSE to Jindal Steel International in phases, with an initial 60% stake followed by the remainder, Reuters reports citing sources. Jindal has conducted due diligence since October. A phased deal could help address about EUR 2.5bln in pension liabilities, the report adds. (Reuters)
- Leonardo (LDO IM) / Leonardo DRS (DRS) - Leonardo DRS appointed Sally Wallace as Executive Vice President and Chief Operating Officer, effective immediately. Wallace has been with the company since 2002. (Newswires)
- Siemens (SIE GY) - Siemens and NVIDIA (NVDA) expand their partnership to build the industrial AI operating system. (Siemens)
- NatWest (NWG LN) downgraded to Equal Weight from Overweight at Barclays
- Shell (SHEL LN) - Co. inks deal for stake in Chevron (CVX) unit’s Angola oil blocks, according to Bloomberg. (Bloomberg)
The stock's rise indicates optimism about this strategic move, while the fall in NatWest and Shell reflects downgrades and mixed developments that may impact their future outlooks in a challenging environment. Overall, these moves could shift sentiment in the industrial and energy sectors.
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