European stock markets hovered around the flat line this Monday morning as investors eyed troubles in the London Stock Exchange-Deutsche Boerse merger and a potential new referendum in Scotland.
The pan-European Stoxx 600 went 0.04 percent higher.
Shares of LSE and Deutsche Boerse opened lower after news that its merger deal was in danger, with the German exchange dropping nearly 4 percent in early deals. This comes after LSE said that it would not be able to fulfill all the antitrust demands made by European regulators.
The Italian insurer Generali fell more than 4 percent early monring after Intesa Sanpaolo said it would no longer pursue a merger with the former. The Italian bank, on the other hand, was at the top of the European benchmark up by more than 5 percent.
The pound fell in early Asian trade after a report in The Times indicated that the Scottish government is planning to call a referendum on its U.K. independence at the same time that Prime Minister Theresa May begins the country’s Brexit negotiations with the EU.
In corporate news, Persimmon moved more than 2 percent in early deals after announcing its full-year results.
Associated British Foods, the owner of Primark, kept its full-year earnings guidance after all divisions reported growth. Its shares were up by 2 percent.
The British supplier Bunzl announced a better-than-expected 16 percent increase in full-year profits, pushing its shares higher by 1.7 percent.
Also on Monday’s calendar is the Mobile World Congress in Barcelona.
Source: CNBC
