|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||131.80 - 134.50|
|52-week range||104.32 - 143.92|
|Beta (5Y monthly)||0.23|
|PE ratio (TTM)||27.78|
|Forward dividend & yield||3.00 (2.26%)|
|Ex-dividend date||19 Apr 2021|
|1y target est||N/A|
PARIS (Reuters) -Shares in Nestle and L'Oreal rose on Wednesday after the Swiss food group trimmed its stake in the French beauty giant, a deal that pleases investors on both sides while keeping ties between the two companies broadly intact - at least for now. The Nescafe maker has been a major shareholder in the owner of brands like Lancome since 1974, when L'Oreal heiress Liliane Bettencourt entrusted nearly half her stake to Nestle for fear it would be nationalised if Socialists came to power. The presence of Nestle, which is cutting its stake to just over 20% from 23% by selling shares worth about $10 billion, alongside the L'Oreal founding family helped insulate the French group from unsolicited takeover bids.
By Dhirendra Tripathi
European stock markets are expected to open marginally lower Wednesday, taking a breather after a sharp rally driven by hopes that the Omicron Covid-19 variant is a dud. At 2 AM ET (0700 GMT), the DAX futures contract in Germany traded 0.1% lower, CAC 40 futures in France dropped 0.1% and the FTSE 100 futures contract in the U.K. also fell 0.1%. Global stock markets rallied strongly on Tuesday as investors shook off some anxiety about the latest coronavirus variant, buoyed by reports that the new variant may produce a milder reaction in patients and thus could be less disruptive to the world economy than previous strains.