Galp Shares Fall 11% After Moeve Merger Talks End
Galp posted operational results that Berenberg analyst James Carmichael described as strong, with beats across the board and an upgraded outlook. Shares closed 11% lower Monday after merger talks with Moeve over downstream operations ended.
Galp Energia posted a good operational performance with beats across the board and a guidance upgrade, but it wasn't enough to stop a share selloff, Berenberg's James Carmichael writes. Shares closed 11% lower Monday after talks with Moeve on a merger of their downstream operations ended. Despite t…