Europe’s food delivery sector continued to be in the spotlight on Tuesday, as Deliveroo Holdings fell further after a rough first day of trade, while Delivery Hero rose as an investor increased its stake.
Deliveroo Holdings
ROO,
But Delivery Hero
DHER,
Separately, Spain’s Glovo raised €450 million to give it a valuation of €2 billion, according to The Wall Street Journal. Delivery Hero participated in the funding round and has previously agreed to buy Glovo’s Latin American operations.
The broader European stock market edged higher, as investors react to President Joe Biden’s infrastructure spending plan, which called for over $2 trillion in spending to be paid for by increases in corporate taxes.
There are also key U.S. economic data over the next two days, with a manufacturing report due on Thursday and the nonfarm payrolls report out on Friday, when markets in Europe and the U.S. will be shut in observance for Good Friday.
The Stoxx Europe 600
SXXP,
U.S. stock futures
ES00,
Also on the move, shares of Atos
ATO,