BlackRock stock braces for Monday as Panama court clouds $23 billion ports sale
BlackRock shares face a fresh geopolitical hurdle on Monday after Panama’s Supreme Court invalidated crucial port contracts held by a CK Hutchison Holdings unit. This move throws a wrench into the $23 billion deal to sell dozens of ports to a group led by BlackRock and Mediterranean Shipping Company. The stock slipped 0.7% Friday, closing at $1,118.94. “I would expect near-term weakness in CK Hutchison until such time as they flesh out a new sale structure,” said David Blennerhassett, strategist at Ballingal Investment Advisors.