Deliveroo shares soar 16% after Doordash offer; Europe markets trade higher
European markets opened higher with all sectors in the green on Monday, as investors brace for a slew of major earnings and data releases both in Europe and the U.S. this week.
The Stoxx 600 index was 0.5% higher at 8:04 a.m. in London, with the automotive and banking sectors both climbing 0.7%. The regional index added 2.77% last week, continuing to claw back losses from the steep early April sell-off related to U.S. tariffs.
Elsewhere overnight, Asia-Pacific markets were muted as investors assessed China’s promises to support domestic businesses as well as developments in trade negotiations between the U.S. and countries in the region
Deliveroo shares shot up over 16%, hitting their highest level since January 2022, after the food delivery firm suspended a share buyback following a $3.6 billion offer from U.S. firm DoorDash
“The Company announces that further to its announcement on 25 April 2025 that the Company had received an indicative proposal from DoorDash, Inc regarding a possible cash offer for the entire issued ordinary share capital of the Company, the Company has suspended with immediate effect, the £100 million Buyback Programme that was announced on 18 March 2025,” Deliveroo said in a statement.
“Any recommencement of the Buyback Programme will be announced to the market.”
Source: CNBC
