Movers: BASF, Carlsberg, Clariant, Credit Agricole, Hugo Boss, Mowi

Bridgette Randall
22 Jun, 2022
New York City

European markets traded lower on recession worries and rising inflation in the region. 

The DAX index fell 2.0% to 13,027.62, the CAC-40 index declined 1.8% to 5,859.51, and the FTSE 100 index dropped 1.5% to 7,045.08.

Oil companies traded lower after crude oil prices declined 6% in the region. 

BP Plc fell 3.6%, Shell Plc decreased 3.6%, and Repsol S.A. declined 4.8%. 

BASF SE declined 5.6% to 43.30 euros after the chemical company said business in the second-half is likely to face considerable downturn. 

Credit Agricole SA declined 2.2% to 9.19 euros and the French-banking group released its strategic roadmap with a target of one million new retail customers and net income of 6 billion euros by 2025. 

Hugo Boss gained 0.7% to 48.70 euros and Frasers Group increased its stake in the fashion designer and retailer. 

The company has 3.425 million shares of common stock, representing 4.9% and 18.289 million shares of common stock via the sale of put options, representing 26.0% of Hugo Boss's total share capital, the company said in a press release today. 

Clariant AG declined 1.5% to 17.98 Swiss francs after the company said it plans to trim its business divisions from five to three. 

Mowi ASA dropped 7.2% to 219.70 Norwegian krone after the company repurchased its own 994,692 shares to meet the requirement to complete option remuneration to senior executives granted at 157.53 Norwegian krone. 

The seafood company operates farms in Norway, Ireland, U.K., Canada, and Chile. 

Carlsberg AS declined 1.2% after the company said its CFO Heine Dalsgaard has resigned to move to another company backed by a private-equity firm. 

Dalsgaard will remain in the position till the end of 2022.