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MURGY Muenchener Rueckversicherungs Gesellschaft AG (PK)

10.842
0.162 (1.52%)
Last Updated: 20:40:24
Delayed by 15 minutes
Name Symbol Market Type
Muenchener Rueckversicherungs Gesellschaft AG (PK) USOTC:MURGY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.162 1.52% 10.842 10.83 10.86 10.888 10.81 10.825 205,037 20:40:24

European Companies Plan Flurry of Buybacks -- At a Glance

24/02/2023 1:58pm

Dow Jones News


Muenchener Rueckversiche... (PK) (USOTC:MURGY)
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By Christian Moess Laursen

 

Stock buybacks continued in the U.K. and across Europe this week, with at least ten companies announcing plans to repurchase shares. Here is a look at companies that announced buybacks this week:

 

-- U.K. bank Lloyds Banking Group PLC said Wednesday that it intends to launch a 2.0-billion pounds ($2.40 billion) share buyback. On Thursday, the lender said the buyback would start next week and end Dec. 29.

 

-- Eni SpA, an Italian oil-and-gas major, said Thursday it would launch a 2.2 billion-euro ($2.33 billion) share buyback in 2023, equivalent to around 4.5% of shares in issue at the current share price, following shareholder approval in May.

 

-- Stellantis NV, the European car maker that owns the Jeep and Dodge brands, said Wednesday it approved a buyback program of up to EUR1.5 billion to be executed in open market by the end of 2023.

 

-- French insurer AXA SA said Thursday it launched a share-buyback program of up to EUR1.1 billion, expected to be completed by year end.

 

-- German reinsurer Munich Re AG said Wednesday that it plans to buy back shares worth up to EUR1 billion, and that the program will run from May 6 to next year's annual general meeting, at the latest.

 

-- Wolters Kluwer NV, a Dutch provider of professional information services, said Wednesday that it intends to buy back up to EUR1 billion in shares during 2023, matching its buybacks in 2022.

 

-- U.K.-listed InterContinental Hotels Group PLC, which owns the Crowne Plaza and Holiday Inn hotel brands, said Tuesday that it was launching a $750 million share buyback program over the course of 2023.

 

-- French construction-materials company Compagnie de Saint-Gobain SA said Thursday it would allocate EUR400 million to buybacks this year.

 

-- Howden Joinery Group PLC, a U.K.-listed maker of kitchen and joinery products, said Thursday that it launched a GBP50 million share buyback. Last year, the company completed a GBP250 million share buyback.

 

-- Danish biotechnology company Genmab AS said Wednesday that it is initiating a share buy-back program to buy up to 220,000 shares starting on Feb. 23 and to end on March 31. In August, the company completed a buyback of 835.3 million Danish kroner ($118.9 million) for 342,500 shares.

 

-- This week's stock-repurchase announcements come after a string of companies said they would launch buyback programs earlier in the earnings season, including French bank BNP Paribas SA, German luxury car maker Mercedes-Benz Group AG, British energy giant Shell PLC and Danish pharmaceutical company Novo Nordisk AS.

 

Write to Christian Moess Laursen at christian.moess@wsj.com

 

(END) Dow Jones Newswires

February 24, 2023 08:43 ET (13:43 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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