European stocks close down 1.01%, Universal Music surges over 11%

SighingCashier · 2026-04-07T18:16:03+00:00

The deadline set by Trump for the reopening of the Iran Strait of Hormuz is approaching, and the market is sensitive to war risks, leading to a general decline in US and European stock markets. The Pan-European index fell by 1.01%. At the same time, Deutsche Bank rejected the acquisition plan for Yúxìn Bank, while Akman’s fund plans to acquire Universal Music Group, with the stock price rising by 11.4%.

SighingCashier

2026-04-07 18:16:03

Abstract generation in progress

The last deadline set by U.S. President Trump for Iran to reopen the Strait of Hormuz will expire at 8:00 p.m. Tuesday (U.S. Eastern Time) (8:00 a.m. Wednesday in Hong Kong time). Investors are watching for Iran’s war risk, and U.S. and European stock markets were under pressure on Tuesday. After reopening following the Easter holidays, European equities saw choppy trading and drifted lower again; the pan-European index Stoxx 600 fell 1.01% to close at 590 points, after rising as much as 0.81% earlier on.

The UK’s FTSE 100 ended at 10,348 points, down 0.84% or 87 points. Germany’s DAX index closed at 22,921 points, down 1.06% or 246 points. France’s CAC 40 index ended at 7,908 points, down 0.67% or 53 points. Italy’s FTSE MIB index closed at 45,411 points, down 0.47% or 213 points. Spain’s IBEX 35 index finished at 17,444 points, down 0.64% or 111 points.

Commerzbank said that the acquisition proposal put forward by Italy’s UniCredit failed to demonstrate sufficient value-creation potential, and it currently sees no basis for reaching a deal with the other party. Commerzbank’s share price held steady on the day after fluctuating, while UniCredit gave back 0.4%.

Pershing Square, the fund company under hedge investor Bill Ackman, has proposed a takeover offer of about US$64 billion for Universal Music. After the two companies merge, they will be listed on the New York Stock Exchange, and the transaction is expected to be completed by the end of the year. Universal Music’s share price rose 11.4%.

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