Markets

Markets wrap: Smurfit Kappa among fallers as European stocks have longest losing streak since 2018

European stocks have had a bad start to September, following a 2.7 per cent decline in August

The Stoxx Europe 600 Index fell 0.2 per cent by the close in London, dropping for a seventh day

Smurfit Kappa was among the fallers as European stocks fell again, with the benchmark equity index finishing the day with its longest losing streak since February 2018.

The Dublin headquartered firm announced this morning that it was in talks to merge with WestRock. Smurfit’s shares closed down 3.3 per cent and Westrock up 5.4 per cent.

That news has sparked speculation that it could depart its Irish stock market listing for New York.

Donal MacNamee

Analysis: Smurfit deal another knife in the side of Ireland’s wounded stock exchange