By Carla Mozee, MarketWatch
Merger news, earnings for stocks
LONDON (MarketWatch) -- Merger news made Iliad SA and Telecom
Italia SpA among the biggest stock movers in European trade
Wednesday.
European stocks overall were under pressure by worries about
tensions between Russia and Ukraine, and disappointing updates
about Italian and German economies.
Movers
Hannover Re SE shares fell 3.3%. The reinsurer's second-quarter
net profit climbed to 211.5 million euros ($282.9 million) from
EUR192.3 million, but was short of the analyst consensus of EUR218
million.
Iliad SA shares dropped 3% as the French company's $15 billion
offer to buy T-Mobile US (TMUS) was expected to be rejected.
T-Mobile denied Iliad access to its books as it considers the bid
insufficient, The Wall Street Journal reported.
Swiss Re AG posted a 2% rise in profit in the second quarter,
but shares of the reinsurer declined 2.7%.
Telecom Italia SpA fell back 1.6%. The telecom group swung to a
first-half profit but a sluggish operating performance underscored
tough trading conditions in Italy.
More must reads from MarketWatch:
Italy's industrial output rises above expectations
U.S. stocks: Futures fall as Europe's economy stumbles
German manufacturing orders tank as Ukraine, Russia weigh
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