- A rally in European shares stalled on Thursday near the eight-month high reached the previous day, with banking mergers in focus while investors awaited more developments in U.S.-China trade talks.
But they said UniCredit would not crash the Commerzbank-Deutsche talks, and UniCredit’s focus for now was on its turnaround plan. Losses in heavyweight BP and Shell weighed down the oil and gas sector, while basic resources stocks slipped after seven straight sessions of gains. Saga Plc shares crashed nearly 30 percent, on course for their worst daily performance, after the over-50s tourism and insurance firm forecast lower annual underlying pretax profit and cut its dividend as it struggles to keep up in a competitive motor and home insurance sector.
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