European Stocks to Watch
Here some of Wednesday's big movers on European stock markets: Kingfisher, Carrefour, J. Sainsbury, HBOS, RBS, Deutsche Bank, SEB, Skanska and Holcim.
Kingfisher (up 2.20%) Kingfisher shares traded sharply higher, fuelled by talk of a possible private equity bid.
Carrefour (up 1.46%) and J. Sainsbury (up 2.06%) Retailers Carrefour and J. Sainsbury rose after an Indian television station reported on Wednesday that Reliance Industries is in talks to buy a stake in Carrefour and Sainsbury once again being the subject of recent takeover talk after CVC Capital approached the company.
HBOS (down 5.38%), Royal Bank of Scotland (down 4.54%), Deutsche Bank (down 5.45%) and SEB (down 4.30%) European bank and financial shares fell sharply for a second day on Wednesday as concerns mounted about the exposure of lenders to the troubled U.S. subprime mortgage market.
Skanska (down 4.51%) and Holcim (down 4.53%) The building industry also took a major hit with regards to the U.S. subprime lending crisis.