By Investors Hub
European stocks turned in another mixed performance on Friday as German DAX Index went up by 0.1 percent, while the French CAC 40 Index dropped by 0.1 percent and the UK’s FTSE 100 Index depreciated by 0.2 percent.
In stock-specific action, German chemicals giant BASF SE signed an agreement to acquire significant parts of seed and non-selective herbicide businesses of German conglomerate Bayer AG. The all-cash purchase price is 5.9 billion euros.
For Bayer, the divestment is part of its planned acquisition of Monsanto. BASF shares have moved to the downside percent, while Bayer has moved higher percent.
Airbus’ shares have moved lower after the U.S. Federal Aviation Administration issued an emergency order requiring airlines to inspect engines on roughly 120 Airbus A380 superjumbo jets world-wide.
GKN plc shares have plunged after the engineering business reported weak margin for its third quarter, despite good organic sales growth. The company now expects management profit before tax for fiscal 2017 to be slightly above 2016.
Meanwhile, Ashmore Group plc’s shares have rallied after the specialist emerging markets asset manager reported growth in first-quarter assets under management.
Shares of investment management firm MAN Group plc have also moved to the upside after reporting higher funds under management in the third quarter.