Puma shares jump 19% on report it could be put up for sale
The Euronext trading exchange building in La Defense business district, west of Paris, on April 7, 2025.
Thomas Samson | Afp | Getty Images
European markets were trading around the flatline by mid-afternoon Monday as investors assessed fresh economic data and corporate updates.
The pan-European Stoxx 600 was last down by 0.1%, with regional indexes trading mixed. Germany’s DAX dipped by 0.1%, paring back earlier losses throughout the day, while France’s CAC 40 was last down by around 0.4%. U.K. markets were closed for a public holiday.
Investors on Monday watched closely shares of windfarm developer Orsted. Late on Friday, U.S. authorities ordered the company to halt construction of a near-complete project off of Rhode Island, threatening Orsted’s plans to raise capital.
Orsted shares tumbled to start the trading day and were last down by around 16%.
Elsewhere, U.S. beverage company Keurig Dr Pepper said Monday that it would buy Dutch coffee company JDE Peet’s for 15.7 billion euros ($18.4 billion). Shares in JDE Peet’s jumped as much as 17%.
Puma shares also rose sharply on Monday, last trading around 19% higher, after Bloomberg reported that the sportswear and shoe maker could be up for sale. Puma declined to comment on the report when contacted by CNBC.
In fresh economic prints, data from German economic institute Ifo showed that the country’s business climate rose once more in August, reaching its highest level in over a year. Expectations were improved from last month, but companies assessed the current situation as slightly worse than in July.
Markets also continued to weigh comments from Federal Reserve Chairman Jerome Powell made on Friday which suggested the central bank may soon opt to cut interest rates. Last week, markets also considered fresh details on the U.S.-European Union trade agreement, which provided some much sought-after clarity for sectors such as pharmaceuticals.
The week ahead is set to begin relatively quietly on the economic data front before the release of a raft of inflation figures from France, Germany, Italy and other key European countries on Friday. Investors will also be following the latest key earnings from across Europe and further afield, with drinks maker Pernod Ricard and tech giant Nvidia among those due to report.
Stateside, U.S. equities were slightly lower on Monday soon after trading began. Asia markets rose, led by mainland China and Hong Kong stocks.
