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
8,078.86
17:14 25/04/24
n/a
n/a
FTSE 350
4,434.34
17:09 25/04/24
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FTSE All-Share
4,387.94
16:49 25/04/24
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General Industrials
6,780.26
17:09 25/04/24
-1.29%
-88.47
Smurfit Kappa Group (CDI)
3,402.00p
16:40 25/04/24
-1.10%
-38.00p
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".