Europe: Shares buoyed by Nestle
Add BT as a preferred source
[MILAN] European shares were supported in early trading on Monday by some good earning updates and gains in Nestle after the Swiss-based food giant agreed a tie-up with Starbucks.
A 12 per cent drop in Air France on management turmoil and weakness among financials weighed, however, keeping the pan-European STOXX 600 index up only 0.1 per cent, while UK markets were closed for a public holiday, reducing activity.
Nestle rose 0.6 per cent after news it will pay US$7.15 billion as part of a global coffee alliance in which the food group is getting the rights to market Starbucks products around the world outside US coffee company's shops.
Air France fell 12 per cent after its CEO Jean-Marc Janaillac said on Friday he would resign after staff rejected a pay deal, plunging the airline into turmoil amid a wave of strikes at its French brand that has cost the company 300 million euros(S$478.3 million).
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
From farmland to factory floor: Vietnam-Singapore industrial parks gear up for next chapter
Inside Indonesia’s trial of Gojek co-founder: How a Google laptop deal became a multitrillion-rupiah case
As Singapore squeezes, Malaysia tempts F&B operators across the Causeway
