Global Financial News: Kraft Scraps Takeover Bid Of Unilever

European stocks traded higher across the board Monday as takeover news and solid economic sentiment offset ongoing concerns over political uncertainty in the region

Author:: Edward Hardy
Publish date:: Feb 20, 2017 5:49 AM EST

Round up of the news from around the world:

1. Unilever plc (UL) - Get Report shares fell sharply at the open of trading Monday after Kraft Heinz Co. (KHC) - Get Reportwithdrew its bid for the consumer products company, but remained firmly above the price traded prior to the $143 billion bid made late last week.

2. Royal Bank of Scotland (RBS) - Get Report shares surged Monday after it said it may abandon a plan to sell part of its retail bank, Williams & Glyn, in favor of alternative options to meet its commitment to repay taxpayer aid given during the financial crisis.

3. Deutsche Telekom AG (DTEGY) shares rose firmly in Frankfurt Monday amid speculation of a potential merger between its majority-owned T-Mobile US (TMUS) - Get Reportunit with wireless rivalSprint (S) - Get Report.

4. Global oil markets also took advantage of the stalling dollar, with prices for WTI futures for April delivery rising 0.30% to $53.94 per barrel and Brent contracts for the same month adding 0.43% to change hands at $56.05 per barrel.