Eutelsat Jumps 12.8%, Extending Weekly Rally to 22% Ahead of SpaceX's $1.75 Trillion IPO
Updated
Updated · CNBC · May 21
Eutelsat Jumps 12.8%, Extending Weekly Rally to 22% Ahead of SpaceX's $1.75 Trillion IPO
6 articles · Updated · CNBC · May 21
Eutelsat climbed 12.8% in Thursday trading, stretching its weekly gain to 22% as investors positioned ahead of SpaceX's expected IPO early next month.
SpaceX's listing has sharpened attention on European satellite stocks, lifting peers including OHB and SES, even though Eutelsat's market value is only about 4.05 billion euros versus a potential $1.75 trillion for SpaceX.
European equities were broadly firmer, with the Stoxx 600 up about 0.2% after reversing earlier losses as investors weighed Middle East diplomacy signals and still-elevated oil prices.
Fresh PMI data underscored a weaker regional backdrop: the U.K. composite reading fell to 48.5 in May, while France's dropped to 43.5, its steepest decline in five-and-a-half years.
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