Smurfit slumps as Goldman said to place 3% stake
Smurfit Kappa slumped on Thursday on news that one of its shareholders was selling 7 million shares of the corrugated packaging company.
FTSE 100
7,895.85
16:59 19/04/24
n/a
n/a
FTSE 350
4,341.08
17:09 19/04/24
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FTSE All-Share
4,296.41
17:08 19/04/24
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General Industrials
6,848.65
17:10 19/04/24
0.46%
31.28
Smurfit Kappa Group (CDI)
3,518.00p
16:40 19/04/24
0.98%
34.00p
According to Bloomberg, Goldman Sachs has placed a stake of about 3% in Smurfit.
At 1550 BST, the shares were down 4.1% at 2,210p.
Smurfit rallied on Wednesday after peer Mondi told its customers that prices of recycled containerboard and kraft top liner will be increased by 60 euros a tonne in June-July. Mondi said this was "driven by continued reduction of stock levels and rising market demand".