European stocks sharply lower on global growth concerns
Now back in negative territory over the last 52 weeks, the Stoxx Europe 600 SXXP, -1.26% tumbled 1.22% to 383.27.
U.S. stock futures ES00, -0.61% were weaker after the 343-point downturn for the Dow DJIA, -1.28% industrials on Tuesday, when the Institute for Supply Management reported a downturn in its closely watched U.S. manufacturing index to the worst level in more than a decade. “The global manufacturing recession is global, in that it includes the U.S. Some of it comes from China, and some of it comes the White House but it’s pretty global and while Germany is suffering worse than anyone else, even the U.S. is feeling it,” said Kit Juckes, global fixed income strategist at Société Générale.
Flutter Entertainment FLTR, +21.09% shot up 18% as the bookmaker announced it will buy Canada’s The Stars Group TSG, +2.20% in a stock swap in which it will control nearly 55% of the combined company. Flutter said the deal will lift underlying earnings per share by at least 50% in the first full year following completion, and its combined revenue of £3.8 billion will make it the largest online betting and gaming operator.
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