Mars’ $662 million acquisition bid sends shares of Britain’s Hotel Chocolat soaring 160%

A $662 million acquisition bid from U.S. food giant Mars sent shares of British chocolatier Hotel Chocolat surging more than 160% on Thursday.

Hotel Chocolat, which was established 20 years ago to bring ethical, affordable luxury chocolate to the high street, said that the deal would allow the brand to expand internationally “further and faster.”

London-listed Hotel Chocolat is primarily U.K.-based, with 124 shops domestically and several others overseas.

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THU, NOV 16 20233:16 AM EST

Biggest movers: Hellofresh down 22%, Burberry down 9%, Embracer up 12%, Siemens up 5%

Hellofresh shares plummeted 22% on Thursday morning after the German meal kit delivery company cut its annual core profit forecast on the back of weak sales growth and rising costs in North America.

Burberry shares dropped 9% after the British luxury fashion brand warned that it may miss its annual revenue forecast amid a global spending slowdown.

At the top of the Stoxx 600 index, shares Swedish games developer Embracer Group jumped more than 12% after the company beat quarterly profit expectations and confirmed its full-year forecast.

Siemens shares climbed more than 5% after the German industrial conglomerate posted record-breaking quarterly earnings.

– Elliot Smith

THU, NOV 16 20233:04 AM EST

Negative open for Europe

European stocks opened in slightly negative territory on Thursday.

The pan-European Stoxx 600 index was down 0.2% in early trade, with chemicals shedding 0.7% to lead losses while utilities gained 0.6%.

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