Volvo AB lowered its annual sales and profitability estimates amid falling industry sales in Europe and the complex global market environment. Ashmore Group, the U.K.-based emerging market-focused fund manager, reported slightly better-than-expected annual results. Churchill China reported a sharp decline in first-half sales. 

Semiconductor stocks extended two-day losses to more than 7% after the U.S. Justice Department deepened its antitrust investigation of AI-chipmaker Nvidia. Oil stocks dropped after the crude oil price declined to a nine-month low amid demand growth worries and a rising supply outlook. 

Swiss Life reported better-than-expected results in the first half. Watches of Switzerland reiterated its full-year outlook. The Swiss private equity reported weaker-than-estimated results. Ashtead Group reiterated its full-year estimates.

The Australia-based REA Group confirmed that it may make an offer to acquire the UK-based online real estate portal Rightmove. Luxury goods and automobile makers traded down in Paris and Frankfurt after China's manufacturing activities declined for the fourth month in a row. 

Europe Movers: Ambu, Banks, ThyssenKrupp

Aug 30, 2024
Inga Muller
ThyseenKrupp Steel's chairman, chief executive, and five board members resigned over disagreements with the parent company. Ambu AS, the Danish medical device company, reported weaker-than-expected revenue in its latest quarter. 

Automakers edged slightly higher after passenger car registration in the European Union edged slightly higher in July. Delivery Hero reported better-than-expected second quarter results.

LEG Immobilien launched a senior convertible unsecured bond offering to repay existing debt. Elekta AB reported better-than-expected fiscal first-quarter results. Mining companies traded down after copper prices eased on China demand growth worries.



Mining companies advanced after copper prices soared to six-week highs. Bunzl plc jumped to a record high after the company increased its interim dividend and launched a stock repurchase plan. Flughafen Zuerich reported weaker-than-expected first-half results.

Oil exploration companies traded higher amid a rise in crude oil prices after Israel and Hezbollah exchanged heavy fire on Sunday. Multiple airlines suspended flights to several cities in Israel.

CTS Eventim lifted its annual outlook. Swiss Re reported higher sales and earnings in the first half and confirmed its annual outlook. Oil companies declined after crude oil prices fell for the fifth session in a row.

The UK's antitrust authority signaled its readiness to approve Barratt Developments and Redrow merger plans. The Swiss eyecare company Alcon reported weaker than expected second-quarter results.

Denmark-based Jyske Bank reported higher income in the first half and reiterated its annual outlook near the upper end of the previously announced range. Oil stocks declined after crude oil prices dropped to a two-week low. Antofagasta reported a marginal decrease in its first-half income.

Barratt Developments and Redrow plc said their merger plans are on track to be completed by the week's end. Aerospace stocks were under pressure on German spending cut worries. Plus500 said its annual results are likely to surpass market estimates.

Europe Movers: Bayer, Nibe, UBS

Aug 16, 2024
Inga Muller
Bayer scored a U.S. legal victory against claims that its weedkiller products causes cancer. Nibe AB reported sharp fall in revenue and earnings in the first-half of 2024 but held out for a recovery in the second half. 



Swiss sanitary products maker Geberit estimated flat annual revenue growth in 2024 in local currencies. Admiral Group reported better-than-expected first-half results. Adyn NV reported strong first-half results and announced its plans to expand in India.