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<Europe> European Stocks Open Broadly Higher; Germany's DAX Up 1.2% Outperforms; Commerzbank Rejects UniCredit's EUR39B Takeover Offer; Standard Chartered Soft
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Markets are closely monitoring developments in the Iran situation. Major European stock markets opened broadly higher on Tue (19th). The pan-European STOXX 600 index rose nearly 0.8% to 614.69. The UK's FTSE 100 index gained 58 points, or nearly 0.6%, to 10,382. France's CAC index added 61 points, or nearly 0.8%, to 8,048. Germany's DAX index outperformed the region, rising 296 points, or 1.2%, to 24,604. Italy's FTSE MIB increased 62 points, or 0.1%, to 48,732. Spain's IBEX 35 index rose 59 points, or 0.3%, to 17,814. Commerzbank rejected a EUR39 billion takeover offer from Italy's UniCredit. Commerzbank shares rose 1.6%, while UniCredit fell 0.7%. Standard Chartered (STAN.L) slipped 0.9% in London trading. The bank plans to cut more than 15% of its back-office roles by 2030, affecting about 7,800 employees, and explicitly described the move as replacing "low-value human capital" with financial capital rather than a traditional cost-cutting exercise. At the same time, its new strategy focuses on affluent Chinese clients and non-interest income, with a target to raise return on tangible equity to above 18% by 2030. The German government announced plans to sell or split Uniper, the energy company it rescued in 2022 with an investment of EUR13.5 billion, in what could become one of the largest deals in the European market this year. The German government currently holds about 99.12% of Uniper. Uniper shares surged 9.2% to EUR46.95. Futures for the three major US stock indices declined. DJIA futures fell 141 points, or 0.3%, while S&P 500 futures and Nasdaq futures dropped 0.5% and 0.77%, respectively.(da/a) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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