Europe Movers: Centamin, Credit Suisse, Deutz, Investec, Siemens Energy, United Utilities

Bridgette Randall
16 Mar, 2023
Frankfurt

Credit Suisse AG jumped 19.2% to Sfr 2.02 after the Swiss bank said it will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. 

Two days ago, Saudi National Bank, the largest shareholder in the bank said it would not inject additional liquidity in the embattled bank. 

The move to provide liquidity to the troubled Swiss bank lifted stocks of other banks in the Euro Area. 

Deutsche Bank, BNP Paribas, Societe Generale and Commerzbank added between 2% and 3%. 

Siemens Energy AG increased 5.1% to €19.16 after the company completed secondary stock offering and raised €1.259 billion. 

The company sold 72.66 million shares priced at 17.32 a share through an accelerated book building process.  

The net proceeds from the offering will be used to partially refinance the voluntary cash tender offer for all outstanding shares in Siemens Gamesa Renewable, S.A.

Investec Plc increased 3.5% to 455.30 pence after the wealth management firm estimated higher operating profit in the year ending in March. 

United Utilities Group Plc increased 1.0% to 1,064.50 pence after the company said its chief executive Steve Mogford will retire at the end of March. 

Centamin Plc fell 5.4% to 101.30 pence despite the gold mining company reporting higher pre-tax profit in fiscal 2022 on rising revenue. 

Deutsz AG increased 2% to €5.56 after the heavy duty engine and powertrain maker said revenue in the full-year 2022 increased 20.8% to €1.95 billion. 

Operating income more than doubled to €82.6 million from €34.1 million, including exceptional item of €6.8 million related to senior management reorganization. 

Net income, which was boosted by deferred tax income of €20.5 million in 2022, jumped by 109.9% to €80.2 million from €38.2 million and earnings per share increased to €0.66 from €0.32 in the previous year.