UMG Shares Up But K-Pop, Tencent Losses Drag Music Stocks Down Overall – Billboard

Universal Music Group (UMG) shares practically struck an all-time high up on Friday, getting to 27.47 euros ($ 29.98) prior to shutting at 27.22 euros ($ 29.21), a 1% rise for the week. That was close to the height of 27.96 euros ($ 30.52) gotten to onNov 12, 2021, much less than 2 months after the firm was spun off from Vivendi, and noted a brand-new 52-week high. The 1% gain adhered to a 6.9% renovation recently as capitalists responded to news that the firm anticipates to give up team in the very first quarter.

If French music firm Believe is taken exclusive, as has actually been reported, investors would certainly anticipate a costs over the current share rate. That would certainly discuss why the firm’s share rate climbed 13.5% to 10.18 euros ($ 11.11) today– greater than countering the 10.5% decrease Believe shares experienced last week after information damaged of the prospective requisition. According to a Reuters …