The European share market has experienced new turn of events this month. There are some shares which have remained pretty stable as some has declined which is attributed to decrease in prices of crude oil in the Saudi Arabia.
One of those that have been affected by the decline of crude oil prices is Brent Crude which has fell by almost four percent and its prices going for approximately $ 33.32.This decline can also been seen in West Texas Intermediate where its prices have also fallen by almost five percent. At Bretix there has been fear and continued pressure that the pound could fall further past $1.4022 and this attributed to the fact that there is a looming referendum on whether Britain should leave the European Union.
The continued slowdown in China and the news that BHP Billiton was slashing its dividends also led to commodities companies being among the big fallers of the month. Standard chartered fell by up to seven percent, this made it to experience its first ever loss since twenty six years ago.
The French media group Vivendi this month declared that it was out for a hostile takeover of a video game firm Game loft. This made its shares to go up by almost 16.5 percent while that of game maker Ubisoft went up by almost 4.5 percent. Vivendi further declared interest in taking over the pay-tv unit of Mediaset, an Italian Broadcaster. This led to its shares going up by 3.4 Percent.
The London Stock Exchange and Deutsche Börse decided to merge but the deal is still facing a lot of challenges and opposition even though this is the third time they are trying to merge. National pride and differences in views on how to structure the respective clearing business are some of the problems still being faced before the merger.
In conclusion its only with time that we will be able to know if the pound will be able to stable against the dollar, if Saudi Arabia and Russia will reduce their oil production so as to stabilize the price of crude oil and if the London Stock Exchange and Deutsche Börse will take place.