Europe Movers: Holcim, Legal & General, Made.com, Metropole, Sika

Bridgette Randall
04 Oct, 2022
Frankfurt

European markets accelerated gains following the surge in New York and bond yields eased. 

Investors increased exposure to stocks after bond yield eased across the euro zone and mood improved after the U.S. job openings fell in August, easing the pressure on the Fed to lift rates faster. 

In addition, the natural gas prices eased in Europe trading and dropped to a ten-week low. 

Brent crude oil price in London rose 3.2% to $91.62 a barrel and TTF natural gas prices declined 6.4% to 159 euros a megawatt hour. 

The DAX index increased 3.5% to 12,630.29, the CAC-40 index soared 3.9% to 6,022.79 and the FTSE 100 index gained 2.5% to 7,080.90. 

The euro rebounded and moved further away from a 20-year low to 99 U.S. cents and the British pound jumped to $1.148. 

The yield on 10-year German government bonds eased to 1.875% and British Gilts dropped to 3.868%. 

The Italian 10-year bond yields also improved to 4.2% from the 10-year high of 4.5% in the end of September.  

In stock trading, stocks surged across all industrial sectors and travel and travel sector led the gainers. 

 

Stock Movers 

Holcim AG increased 3.9% to 42.84 Swiss francs after the cement building materials maker said it has completed the purchase of Polymers Sealants of North America, a division of Illinois Tool works Inc. 

PSNA is expected to have 2022 revenues of $100 million. 

Last week, Holcim completed the acquisition of Belgium-based   Cantillana, a specialty building solutions provider with an estimated 2022 revenue of 80 million euros.

Legal & General Group Plc added 5.3% to 233.68 pence after the financial services provider reassured investors about the financial health of the company.  

Made.com Group Plc soared 39.8% to 4.74 pence after the troubled online furniture retailer " has now entered in to non-disclosure agreements and begun discussions with a number of interested parties regarding the sale of the Group."

The company also said in a regulatory filing that the management plan implementation is estimated to require "