Movers: Ashtead, Berkeley Group, Centrica, Safran, Siemens Energy

Bridgette Randall
06 Sep, 2022
Frankfurt

European markets looked beyond weak German factory orders data and gained after energy prices eased and China announced stimulus measures. 

The DAX index gained 0.8% to 12,871.41, the CAC-40 index fell 0.2% to 6,104.61, and the FTSE 100 index rose 0.2% to 7,300.43. 

Germany's factory orders declined at a faster pace in July on the weak domestic and the eurozone demand.  

Factory orders fell 1.1% from the previous month in July Destatis reported Tuesday. 

The June orders were revised to an increase of 0.3%. 

The British pound edged up a fraction and traded near $1.15 after briefly falling near $1.14. 

The incoming prime minister Liz Truss has inherited a weak economy, elevated energy prices, sky-high inflation and general voter apathy. 

The pound is expected to continue its slide and sink to a parity with the U.S. dollar. 

In London stock trading, Taylor Wimpey, Persimmon, Berkley Group, JD Sports Fashion and Hargreaves Lansdown gained between 3% and 5%. 

Resource stocks led the decliners after copper, crude oil and natural gas prices eased after rallying for two days in a row. 

Brent crude oil fell 3.3% to $92.59 a barrel and TTF natural gas prices fell 2.5% to 239.47 euros a megawatt hour.    

BP Plc, Shell, BT, National Grid and Pershing Square Holdings fell between 1% and 2%. 

Ashtead Group declined 2.4% to 4,207.o pence despite the industrial equipment rental company posting higher fiscal first quarter revenues and earnings. 

Revenues in the fiscal first quarter 2022 ending in July rose 25% to $2.26 billion and pre-tax net income soared 28% to $527 million. 

Berkeley Group Holdings Plc gained 3.3% to 3,573.0 pence after the company issued a positive outlook for the current financial year. 

"Berkeley is on track to meet its profit guidance and deliver a pre-tax profit for the current financial year ending 30 April 2023 of