European Stocks Are Little Changed as AstraZeneca Slumps
This article is for subscribers only.
European stocks were little changed after climbing for five straight weeks, as a rally in Ryanair Holdings Plc offset AstraZeneca Plc’s slump.
Shares of the U.K. drugmaker tumbled the most since August 2002 after it rejected Pfizer Inc.’s increased bid. Deutsche Bank AG slid 1.7 percent after Germany’s biggest bank sold about 60 million shares to the Qatari royal family as it said it will raise 8 billion euros ($11 billion) in its second-biggest capital increase. Ryanair climbed 11 percent after forecasting profit growth this year. Alstom SA gained 2.6 percent.