Europe Movers: AstraZeneca, Schneider Electric, Taylor Wimpey, Uniper, Vallourec

Bridgette Randall
21 Sep, 2022
Frankfurt

European bourses traded near flat-line in cautious morning trading ahead of the Fed's rate-hike decision after the market-close.

Market indexes scaled higher after the U.S. markets advanced with the presumed 75 basis points rate increase later in the day.  

The DAX index added 0.6% to 12,741.19, the CAC-40 index gained 0.7% to 6,022.49 and the FTSE 100 index increased 0.5% to 7,230.87. 

Energy prices traded higher after Russia mobilized 300,000 reserve troops to bolster its military presence in Ukraine raising the prospects of a prolonged war. 

Crude oil was nearly unchanged at $84 a barrel and natural gas price held near $7.90 a thermal unit.  

However, in Europe, TTF natural gas price advanced 4% to 202.50 euros a megawatt hour. 

Brent crude oil traded up 60 cents to $91.25 a barrel. 

Resource stocks were in focus after crude oil and commodities prices advanced. 

Antofagasta, BHP Limited, Anglo American and Glencore gained between 1% and 3%. 

Homebuilders in the U.K. gained on the hopes that the recently appointed Prime Minister Liz Truss may lower stamp duty in the government's mini-budget this week. 

Taylor Wimpey, Persimmons and Barratt Developments increased between 2% and 4%. 

AstraZeneca plc increased 0.2% to 10,097.0 pence and the company said its Tezspire (tezepelumab) has been approved for the treatment of severe asthma in the European Union. 

Schneider Electric SE increased 1.5% to 117.80 euros after the company agreed to acquire stakes held by minority shareholders in Aveva Plc for 3,100 pence a share. 

The offer price is 41% premium to the last closing price of 2,192 pence before the commencement of the offer period. 

The acquisition values the entire capital of Aveva at approximately