Advertisement
UK markets close in 5 hours 43 minutes

  • FTSE 100

    8,296.48
    +82.99 (+1.01%)
     

  • FTSE 250

    20,389.21
    +224.67 (+1.11%)
     

  • AIM

    777.10
    +5.57 (+0.72%)
     

  • GBP/EUR

    1.1657
    -0.0003 (-0.03%)
     

  • GBP/USD

    1.2539
    -0.0024 (-0.19%)
     

  • Bitcoin GBP

    51,225.95
    -747.21 (-1.44%)
     

  • CMC Crypto 200

    1,333.76
    -31.36 (-2.30%)
     

  • S&P 500

    5,180.74
    +52.95 (+1.03%)
     

  • DOW

    38,852.27
    +176.59 (+0.46%)
     

  • CRUDE OIL

    78.52
    +0.04 (+0.05%)
     

  • GOLD FUTURES

    2,323.50
    -7.70 (-0.33%)
     

  • NIKKEI 225

    38,835.10
    +599.03 (+1.57%)
     

  • HANG SENG

    18,479.37
    -98.93 (-0.53%)
     

  • DAX

    18,284.89
    +109.68 (+0.60%)
     

  • CAC 40

    8,017.33
    +20.69 (+0.26%)
     
Money:

The retirement income gap no-one is talking about

People are living longer than ever before and this can impact how you plan for retirement

STOCKS NEWS EUROPE-Scania falls after Alecta rejects Volkswagen bid

Reuters - UK Focus

Shares in the Swedish truckmaker Scania (Other OTC: SVKBY - news) fall as much as 6.6 percent after Swedish pension firm Alecta rejects Volkswagen (Other OTC: VLKAF - news) 's 200 crown-per-share bid for the outstanding shares in the company.

The decision by Alecta, the third biggest shareholder in Scania, sends the stock down 3 percent to 177.80 crowns by 0715 GMT, making it the second-worst performer on the Swedish blue-chip index.

"The offer does not fully reflect Scania's fundamental long-term value," Alecta says in a statement.

Alecta follows several other smaller owners who have already rejected the offer, fuelling doubt about whether VW will land the 90 percent acceptance it needs to complete the bid.

The acceptance period for the offer runs through April 25.

Reuters messaging rm://mia.shanley.thomsonreuters.com@reuters.net