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Europ trading mixed with continued focus on earnings

2019-04-24 08:36 am | Resource: News | No Views : 110

Europ trading mixed with continued focus on earnings

European stocks were mixed early on Wednesday as investors continued to focus on corporate earnings.

Novartis, Credit Suisse and SAP were among the companies that reported quarterly results ahead of the bell.

At the same time, market watchers are waiting for results from Italian energy company Eni, as well as major US companies, including Boeing, Tesla, Microsoft and Facebook, which will be launched later in the day.

Softbank invests 900 million euros in WireCard

Wire Card announced Wednesday that it has signed an agreement with Softbank. Under which Softbank will invest about 900 million euros in German fintech through convertible bonds, in addition to a memorandum of understanding on a strategic partnership on digital payment solutions.

WireCard has indicated that it will issue convertible bonds with a five-year maturity that will be available only to Softbank and will be converted into 5.6% of the ordinary shares of AirCard. The company confirmed that the deal was still subject to the approval of the shareholders of AirCard.

In addition, Softbank will help AirCard expand its operations to include Japan and South Korea and provide "collaboration opportunities within Softbank's global portfolio of digital payments, data analytics / artificial intelligence and other innovative digital financial services."

European Stocks Open
  • The FTSE 100 was down 0.25% at 9:14 CET. Anglo American led the losses, falling 1.92% at 9:14 am.
  • The CAC 40 index fell 0.23% at 9:15 am CET, as the Renault index fell 3.19% at 9:14 am CET, the worst performer on the index.
  • The DAX rose 0.10% at 9:14 CET. WireCard posted the strongest performance, rising 7.25% at 9:18 am after the company announced its partnership with Softbank.

The euro lost 0.15% against the dollar to sell at 1.1211 at 9:20 CET.

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