European stocks slip as Carrefour abandons takeover talks

  • Reuters
  • Stock Market News
European stocks slip as Carrefour abandons takeover talks
Credit: © Reuters.

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Jan 18 (Reuters) - European stocks slipped on Monday as French retailer Carrefour tumbled after ending 16.2 billion euro ($19.57 billion) merger talks with Alimentation Couche-Tard, with worries about a slow economic recovery keeping investors on edge.

The pan-European STOXX 600 index .STOXX slipped 0.2% by 0810 GMT, extending losses from Friday when the benchmark index snapped a four weeks of gains.

A better-than-expected quarterly rebound for China's economy failed to excite investors who feared that soaring COVID-19 cases and tight restrictions in continent could dent growth in the first quarter. CARR.PA fell 5.9% in early deals after its takeover talks with Canada's Alimentation Couche-Tard ATDb.TO failed and the two sides decided to work on partnership opportunities. stock had shed nearly a third of its gains after the French government opposed the deal last week.

Shares in carmaker Stellantis STLA.PA STLA.MI rose almost 3% in its first day of trading in the Paris stock market on the completion of merger between Fiat Chrysler and PSA.

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