Car makers dip; Sabadell, Nexi soar (Il Sole 24 Ore Radiocor) - Milan, 09 May - In European stock market dealings most sectors were mixed, with car makers leading the losses while oil and gad stock rose as they tracked oil prices higher.

Spanish bank Banco de Sabadell soared 3.33% after after rival BBVA made a hostile takeover offer to its shareholders, offering one new share for every 4.83 existing ones, valuing the company at 2.12 euros per share.

Last week, Sabadell rejected BBVA's proposal saying that it "significantly undervalues the potential of Banco Sabadell and its standalone growth prospects." BBA shares dipped 5.93%.

Italian payment systems provider Nexi rallied 5.82% after it posted a larger-than-forecast rise in first quarter core profit. Nexi said that in the first quarter EBITDA rose 8.6% to 361.7 million euros as revenue grew 6.0% to 781.6 million, leading to a 1.12 expansion in EBITDA margin. The company confirmed its full-year guidance.

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(RADIOCOR) 09-05-24 12:59:11 (0344) 5 NNNN