European supermarket stocks drop after Amazon strikes deal for Whole Foods

U.K. and European grocery shares fell Friday following Amazon.com Inc.’s deal to buy upscale grocery chain Whole Foods Market Inc. in a $13.7 billion deal. . Dutch supermarket chain Royal Ahold Delhaize NV , whose stores include Giant and Stop and Shop, tumbled 7.5%. Tesco PLC dropped 3.9% in a volatile session for the U.K.’s largest supermarket chain after it reported first-quarter sales growth. Stock in Britain’s J Sainsbury PLC tanked 4.5%.

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From:: Stock Market News

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