European markets open lower at the end of this year


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On Friday morning, European financial markets opened lower. The CAC 40 was trading down 0.2% at 830 GMT. While the FTSE 100 was trading lower 0.4%, it was down 2%. The AEX had gone down 0.1%.

Major European markets will be closed tomorrow for New Year’s Day, while these markets will close early in honor of the holiday.

Flutter Entertainment PLC (FLTRF) opened 2% lower in the United Kingdom, while Fresnillo PLC (FRES) opened 1.3 percent higher.

Hunter Douglas NV (HUDN) stock soared 69 percent after 3G Capital agreed to buy the window coverings company for €175 per share.

Renault SA (RENA) was the best-performing stock on the CAC 40, rising 0.5% in early trading, while Alstom SA (ALSO) was the worst performer, falling 1.2 percent.

Hunter Douglas’ shares will be purchased for €175 a share by the global investment group, which will buy out minority owners as well as the Sonnenberg family, which owns 88 percent of the company. As part of the purchase, the Sonnenberg family will keep a 25% share in the company.

Hunter Douglas shareholders have had a challenging but prosperous year. In a plan revealed last December, the Sonnenberg family attempted to buy out minority shareholders for €64 per share.

Hunter Douglas benefited from the solid global housing market, with sales up 23 percent in the first nine months of 2021. Since merging Kraft Foods with Heinz in 2015, this is 3G Capital’s first large publicized deal.

Tesla (TSLA) Inc is recalling over 475,000 of its Model 3 and Model S electric cars due to a rearview camera and trunk concerns that enhance the danger of a catastrophe.

Tesla’s stock dropped as much as 3% in the morning but recovered and was the last trading slightly higher, near $1,089.

Crude Oil WTI Futures and Brent Oil Futures were down approximately 0.3 percent on the commodities front, while Gold Futures were up 0.25 percent. Even yet, oil is on course to have its most significant year since 2009, while gold is on track to have its worst in the last six.

Bitcoin was up 3%, and Ethereum was up 2.4 percent, putting the cryptocurrencies on track for an excellent conclusion to a great year.


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