By Carla Mozee, MarketWatch
Merger news, earnings for stocks
LONDON (MarketWatch) -- Iliad SA and Telecom Italia SpA were
among the biggest stock movers in European trade Wednesday.
European stocks overall fell by 0.9%, under pressure from
worries about tensions between Russia and Ukraine, and
disappointing updates about the Italian and German economies.
Movers
Hannover Re SE shares fell 3.5%. The reinsurer's second-quarter
net profit climbed to 211.5 million euros ($282.9 million) from
EUR192.3 million, but was short of the analyst consensus of EUR218
million.
Iliad SA shares dropped 5.7% as the French company, according to
a Wall Street Journal report, will stick with its $15 billion offer
to buy T-Mobile US (TMUS) following the collapse of a rival bid
from Sprint (S) .
Swiss Re AG posted a 2% rise in profit in the second quarter,
but shares of the reinsurer declined 3%.
Telecom Italia SpA fell back 2.6%. The telecom group swung to a
first-half profit but a sluggish operating performance underscored
tough trading conditions in Italy.
More must reads from MarketWatch:
Italy's industrial output rises above expectations
German manufacturing orders tank as Ukraine, Russia weigh
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