STOCKS NEWS EUROPE-TUI AG seen down on share placing
Shares in TUI AG (Xetra: TUI1.DE - news) are indicated down 3.8 percent, the biggest faller among German midcaps, after news shareholder John Fredriksen is to sell a 15.7 percent stake in the German travel and tourism company.
"Large unexpected placing in a weak market should weigh on shares," a Frankfurt-based trader says.
The DAX bluechip index is indicated down 1.1 percent.
Shares in TUI AG have gained 48 percent over the last 6 months, against a 14 percent increase for the MDax.
Reuters messaging rm://victoria.bryan.thomsonreuters.com@reuters.net