Deliveroo shares soar greater than 16% after suspending share buyback
Deliveroo shares shot up over 16%, hitting their highest stage since January 2022, after the meals supply agency suspended a share buyback following a $3.6 billion supply from U.S. agency DoorDash.
“The Firm broadcasts that additional to its announcement on 25 April 2025 that the Firm had acquired an indicative proposal from DoorDash, Inc relating to a potential money supply for all the issued odd share capital of the Firm, the Firm has suspended with rapid impact, the £100 million Buyback Programme that was introduced on 18 March 2025,” Deliveroo stated in an announcement.
“Any recommencement of the Buyback Programme might be introduced to the market.”
By 8:17 a.m. London time, the shares had been 16.58% larger.
Deliveroo
Volkswagen truck unit Traton shares up 4% regardless of gross sales decline
Shares of Traton, the truck- and bus-maker majority owned by Germany’s Volkswagen, popped 4.3% in morning offers after the corporate reported decrease quarterly gross sales however a rising order ebook.
Traton’s gross sales income within the first quarter declined 10% yr on yr to 646 million euros ($732.8 million), whereas incoming orders rose 12% to 74,300 autos.
Traton share value.
Truck gross sales within the U.S. fell, which it attributed to “cautious patrons in an unsure financial setting.”
The corporate stated it “bought off to a gradual begin to 2025, but expects an improved enterprise efficiency within the second half of the yr on account of a renewed enhance in incoming orders.” It additionally reaffirmed its full-year outlook.
Analysts at Citi stated in a be aware that with most figures having been pre-released, orders stood out positively and had been stronger in Europe than reported by Volvo final week.
— Jenni Reid
Europe shares open larger
Europe’s Stoxx 600 index opened 0.5% larger on Monday, persevering with momentum from the final two weeks.
France’s CAC 40 jumped 0.54%, whereas the U.Okay.’s FTSE 100 and Germany’s DAX had been 0.4% and 0.3% larger, respectively.
Stoxx 600 index.
Mediobanca places in $7.2 billion takeover supply for Banca Generali
The emblem of a Mediobanca Premier financial institution department in Brescia, Italy, on Friday, Jan. 24, 2025.
Bloomberg | Bloomberg | Getty Photographs
Italian lender Mediobanca on Monday made a public 6.3 billion euro ($7.17 billion) supply to purchase home peer Banca Generali because it seeks to spice up its wealth administration operations.
Mediobanca, itself the takeover goal of Banca Monte dei Paschi di Siena amid a broader wave of tried consolidation amongst Italian lenders, seeks to pay for the acquisition by swapping its shares of Italian insurer Assicurazione Generali, the mum or dad of Banca Generali with a 50.17% holding.
The proposal units an change ratio of 1.7 Assicurazioni Generali shares, ex-dividend, for every Banca Generali share, based mostly on the costs of April 25. The bid implies a proposal value of 54.17 euro per share, or a roughly 11% premium from Mediobanca’s newest shut.
The deal, which might generate 300 million euros in synergies, will create “a market chief, rating second in Italy by property (TFAs of €210bn) and distribution community (approx. 3,700 professionals),” Mediobanca stated.
Usually a rarity within the languishing European banking sector, hostile takeovers have taken Italy’s lenders by storm, with UniCredit, Monte dei Paschi and now Mediobanca launching consolidation gives domestically and overseas for the reason that second half of final yr.
It comes as European banks battle to maintain tempo with their transatlantic friends, with analysts pointing to mergers as a possible avenue to achieve footing.
— Ruxandra Iordache
Airbus completes deal to accumulate Spirit AeroSystems property
Airbus on Monday introduced it had finalized a deal to tackle a batch of property from struggling U.S. provider Spirit AeroSystems, largely associated to European manufacturing of its personal business plane.
The Toulouse, France-based planemaker final yr agreed to tackle components of Spirit’s operations, whereas the wider firm is being reintegrated into former mum or dad firm Boeing in a $4.7 billion inventory deal.
Airbus will take possession of websites in Kinston, North Carolina, in St. Nazaire, France and in Casablanca, Morocco, which make components of its A350, A321 and A220 plane.
It’ll additionally take over manufacturing of A220 pylons in Wichita, Kansas, A220 wings in Belfast, Northern Eire, and wing elements for A320s and A350s in Prestwick, Scotland.
Spirit’s Europe-focused operations are at the moment loss-making, in accordance with Reuters.
Airbus might be compensated with $439 million by Spirit topic to changes, the corporate stated, whereas Airbus has entered right into a memorandum of settlement to offer Spirit with $200 million in non-interest bearing traces of credit score.
Airbus share value.
European markets: Listed here are the opening calls
European markets are anticipated to begin the brand new buying and selling week in optimistic territory on Monday.
The U.Okay.’s FTSE 100 index is predicted to open 115 factors larger at 8,430, Germany’s DAX up 26 factors at 22,266, France’s CAC 16 factors larger at 7,553 and Italy’s FTSE MIB 77 factors larger at 36,955, in accordance with knowledge from IG.
Earnings are due from Porsche, Schneider Electrical and Deutsche Boerse. Knowledge releases embody the most recent French and Spanish unemployment figures.
— Holly Ellyatt