Europe Movers: Aurubis, Banco BPM, Banca Monte, Diageo, EABL, Novartis, Rovio

Bridgette Randall
06 Feb, 2023
Frankfurt

Aurubis AG declined 4.8% to €96.44 after the German copper smelter reported a sharp fall in earnings. 

Revenue in the fiscal first quarter ending in December 2022 declined 7% to Є4.1 billion.

Net income dropped to Є57 million from Є301 million and diluted earnings per share plunged to Є1.31 from Є6.89 a year ago. 

Higher energy and other input costs negatively impacted quarterly results. 

Banco BPM SpA increased 2.7% to €4.22 after the Italian bank's chief executive Guiseppe Castagna said that the bank is not interested in acquiring the rival Banca Monte dei Paschi di Siena.  

Banca Monte dei Paschi di Siena SpA declined 4.7% to  €2.37. 

Diageo Plc declined 0.2% to 3,572.15 pence after the British spirits maker launched a partial offer to increase its stake to 65% from the current stake of 50% in East African Breweries Plc.

The tender offer price is Kenyan Shillings 192.00 per ordinary share and the maximum number of shares subject to the tender offer is 118,394,897. 

The tender offer period will run from 6 February 2023 to 17 March 2023, Diageo said in a statement released today. 

Rovio Entertainment Oyj rose 14.5% to €8.74 after the popular Angry Birds mobile game maker headquartered in Finland said it has launched a strategic review and preliminary non-binding talks with potential suitors. 

Novartis AG declined 0.5% to 79.15 Swiss francs and the Swiss pharmaceutical drug maker's unit Sandoz said it has won an approval from the U.S. drug regulator FDA has accepted its Biologics License Application for proposed biosimilar denosumab.   

“In addition to being an important medicine for cancer of the bone, denosumab is critical in the treatment of osteoporosis and potential prevention of osteoporosis-related fractures that so many women over 50 are at risk of,” said Keren Haruvi, President, Sandoz Inc. and Head of North America.