Europe Movers: Clarkson, Eni, James Fisher & Sons, Resource Stocks, Telecom Italia

Bridgette Randall
06 Mar, 2023
Frankfurt

Telecom Italia SpA increased 3% to €0.32 after Italian state investor CDP and Australia's private equity and asset management group Macquarie submitted a joint bid to acquire the company's fixed-network business. 

Eni SpA added 0.7% to €13.52 after the Italian company struck a deal with Abu Dhabi National Oil Company in deepening their ties in reducing emissions and producing clean energy. 

Clarkson PLC increased 5.5% to 3,485.0 pence after the U.K.-based shipping services provider reported a rise in 2022 earnings. 

Revenue in 2022 increased to £603.8 million from £443.3 million and reported profit before-tax increased to £100.1 million from £69.1 million in the previous year. 

Basic earnings per share in 2022 increased to  247.9 pence from 164.6 pence and the integrated shipping services provider increased its annual dividend for the 20th year in a row to 93 pence from 84 pence in the previous year.  

Resource stocks traded lower after Brent crude declined 1.1% and natural gas dropped 4.8% and base metal prices fell around 1%.  

Glencore, Antofagasta and Anglo American declined between 1% and 3%. 

James Fisher & Sons plc declined 4.6% to  372.50 pence after the U.K.-based company agreed to sell its nuclear decommissioning business for nominal consideration and established a new intercompany credit agreement. 

Credit Suisse declined 0.7% to $3.01 after the company's main shareholder Harris Associates sold its entire stake in the company. 

The news was first reported by the Financial Times and independently verified by Ticker.com. 

Chicago-based Harris Associates reportedly owned as much as 10% last year but sold its entire stake in the last two months. 

"There is a question about the future of the franchise. There have been large outflows from wealth management," deputy chair and chief investment officer David Hero said to Financial Times.