The market punishes Puig for broken talks for the merger with Estée Lauder. The Catalan multinational of premium beauty has plummeted more than 13% on the day after the talks ended without an agreement. At Friday's market close, the stock fell to 15.18 euros, after closing on Thursday evening at around 18 euros. With this move, the titles of the perfume multinational are moving further away from the price of the stock market debut it undertook in 2024, around 24.5 euros. Estée Lauder shares, on the contrary, show a strong recovery: around 12 noon in New York, two hours after the start of the session, they were up 9.4%, to 86.3 dollars.