News Formal

Just two blue chip European stocks gained last week, for very different reasons

  • 📰 CNBC
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

South Africa News News

The Stoxx Europe 600 lost almost 12% last week to post its worst five-day run since the financial crisis in 2008. However, two of the 600 companies listed on the European blue chip benchmark emerged in the black.

London-listed shares of NMC Health jumped 9.7% over the week, but the Abu Dhabi-based hospital chain is fighting for its life and was forced to suspend trading of its shares on Thursday.

The company's bosses have since become embroiled in an accounting and governance scandal. Last week, NMC Chief Executive Prasanth Manghat was removed with immediate effect, and the company faces an investigation by the U.K. Financial Conduct Authority .An independent internal investigation, led by former FBI director Louis Freeh, of the company's books found a host of undisclosed loan agreements related to companies owned by its founder, Indian businessman B.R. Shetty.

"NMC is currently fully focused on safeguarding operational liquidity to continue funding existing operations throughout its various subsidiaries," the announcement said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Groupe SEB and NMC Health... Both are health stocks and Corona is right at the corner. Cheers

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Health care stocks see worst week in two decadesPart of investors' worries surround the uncertainty over the potential impact of a widespread Covid-19 outbreak in the United States. But that's not all that's worrying investors. Don’t worry about it the President said it’s all a hoax by the Dems! Everythings ok! When their is a drug available on hand for the COVID19 Healthcare stocks will skyrocket 🚀📈📊 Virus stocks are to the MOON!!! AHPI up $22/share in 2 days.
Source: CNBC - 🏆 12. / 72 Read more »

The Stock Market Is In Free Fall On Coronavirus Fears. How Much Worse Will It Get?It was the stock market’s worst week since the 2008 financial crisis. I thought Mike_Pence was going to fix it! Maybe because the media keeps fearmongering over the Coronavirus... 80k died from the flu in 2018-19 and I don't remember it being blown up in the media like this. Globalism ignites fear in investors. Oh, the irony.
Source: Forbes - 🏆 394. / 53 Read more »