International News and Market Update: Coca-Cola buys full control of Bodyarmor for $5.6 billion, and more

 International News and Market Update: Coca-Cola buys full control of Bodyarmor for $5.6 billion, and more

International News and Market Update: Coca-Cola buys full control of Bodyarmor for $5.6 billion, and more.

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European stocks started November on a positive note on Monday. Investors reacted to corporate news and looked ahead to key central bank meetings. The pan-European Stoxx 600 index closed up 0.7%, with all sectors closing in positive territory. Barclays Bank shares slipped 0.8% after the investment bank announced Monday morning that CEO Jes Staley will step down following an investigation into his relationship with Jeffrey Epstein. Shares in Ryanair rose 1.2% after the budget airline reported its first quarterly profit since the Covid-19 outbreak.

U.S. stocks rose slightly to new records on Monday after markets successfully emerged from a historically difficult seasonal period. Tesla, which became a $1 trillion company last week, continued its gains for the year with shares rising nearly 8.5%. Investors have been getting more involved in betting on Tesla options lately. Corporate earnings season was dominated by solid profit numbers in October, though the global supply chain is a concern. About half of S&P 500 companies reported quarterly results and more than 80% of them beat Wall Street analysts’ earnings estimates, according to Refinitiv. 

Stocks in the Asia-Pacific region were mixed this morning as the Reserve Bank of Australia is set to announce its interest rate decision later today. The Australian stock market was slightly lower, giving back some of the modest gains from the previous session. The benchmark S&P/ASX 200 held above the 7,300 mark, ignoring positive cues from Wall Street that weighed on the market overnight. 

Coca-Cola buys full control of Bodyarmor for $5.6 billion

Coca-Cola announced Monday that it has acquired full control of sports drink maker Bodyarmor for $5.6 billion. This makes it the company’s largest brand acquisition to date. 

The beverage giant acquired a 15% stake in Bodyarmor in 2018, becoming the company’s second-largest shareholder. At the time, basketball legend Kobe Bryant was the third largest shareholder, having invested in Bodyarmor in 2013, just two years after its inception. The late NBA star’s estate will receive about $400 million from the sale, according to the Wall Street Journal. 

Automaker Stellantis offers buyouts for pension-eligible employees in the U.S.

Automaker Stellantis, formerly Fiat Chrysler, is offering voluntary buyouts to pension-eligible employees in the U.S., the company confirmed Monday. To be eligible for the offer, employees must be at least 55 years old and have been with the company for 30 years, or at least 58 years old and have been with the company for 10 years.

Unionized employees are not eligible for the buyouts, which were originally sent out in late October. A Stellantis spokeswoman declined to say how many of the company’s more than 14,000 domestic employees are eligible for the program or whether the automaker has a target for the number of workers who want to take the packages.

Mandy Nunes

https://gvmarkets.com/

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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