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Europe stocks lower; Carlsberg down 9% after bid rejected; UK retail sales beat forecast

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Central Banking,STOXX 600,Economic Events

European stocks were lower Friday as investors monitor a slew of central bank decisions and data releases.

shares plunged 9% after U.K. soft drinks maker Britvic confirmed it had rejected two unsolicited takeover proposals from the Danish drinks giant, saying the latest offer of 1,250 pence per share "significantly undervalues" the company.announced

it would cut interest rates by 0.25 percentage points to 1.25%. The SNB became the first major central bank to cut rates during this cycle back in March.at a 16-year high of 5.25%. Economists largely detected a dovish undertone to policymakers' latest messaging, as they described a "finely balanced" decision not to cut, though by Friday money market bets on an August rate cut had fallen back down to around 40%.

"After a slow start to the year, retailers can take comfort in retail sales recovering just in time for summer — a time when major sporting events, from the EUROs to the Olympics, will also likely improve the trading environment," Deann Evans, EMEA managing director at Shopify, said., which held steady for a third straight month, and German and British flash purchasing managers' index figures across manufacturing and services.

 

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