Bank shares experienced volatility after Italy announced a tax on banks’ excess profits, although shares largely recovered after the Government later clarified that the tax would amount to no more than 0.1 per cent of a bank’s assets. Annual inflation was estimated at 5.3 per cent for August, stable compared to July. However, ‘core’ inflation, which strips out food and energy prices, eased. Eurozone unemployment remained constant month over month at 6.4 per cent.
For M&A, deal activity in August involved 41 deals in total; that’s a decrease of 3 deals year on year. A couple of the notable ones are:
- Bitburger Holding GmbH and Athos Equity Holdings AG acquired Schuelke & Mayr GmbH
- Karo Healthcare AB acquired the UK-based Lamisil business from Haleon plc
- DIA Portugal Supermercados SA was acquired by Auchan Retail SA and Auchan Retail Portugal S.A.
Read more in the September edition of our newsletter.
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