Its shares shot up by 9% on Thursday, while Kering stock posted a more modest rise of 1.3%. Should the deal be completed, it would help Kering compete with rival French luxury group LVMH. Saudi Arabia's state oil company is poised to price what could be the biggest IPO in history. But international investors are less convinced about buying Aramco stock: Among their concerns: Low oil prices, the climate crisis and geopolitical risks. The ensuing supply glut would spark a "significant oil price correction," driving Brent crude into the low $40s for a short period of time, Rystad predicted.

Source: CNN December 05, 2019 11:34 UTC