Europe Movers: BMW, Just Eat Takeway.com, Kingfisher, Pernod Ricard, Stellantis, SThree

Bridgette Randall
21 Mar, 2023
Frankfurt

European automakers advanced after February vehicle registrations increased at a faster pace after semiconductor shortages eased. 

New passenger cars registrations in the European Union rose 11.5% to 802,763 vehicles in February, following an 11.3% increase in January.

Registrations rose in most markets in the union and Spain led the region with an increase of 19.2% followed by 17.4% in Italy. 

In the first two months of 2023, registrations in Spain jumped 32.1%, in Italy rose 18.2%, in France increased 9.1% and in Germany edged up 0.2%. 

Battery electric vehicle registrations increased 12.1% of total but petrol-fueled vehicles led with 36.9% market share.  

BMW AG increased 1.8% to €97.34, Renault SA rose 3.7% to €36.76, Stellantis NV, the parent of Fiat and Chrysler, increased 2.2% to €16.19. 

Pernod Ricard SA increased 0.9% to €202.40 and the French spirit and wine company said its American unit has agreed to acquire a majority stake in Skrewball, the maker of peanut butter flavored whiskey brand.   

The company is also in the middle of repurchasing €300 million of its stock between February 20 and April 6 and not to exceed the share price of €320 a share.

Kingfisher Plc declined 1.6% to 268.86  after the UK-based home improvement company reported a decline in sales and earnings in the fiscal year ending in January 2023.  

Sales in the full-year declined 0.9% to £13.06 billion from £13.18 a year ago and after-tax net income dropped 44.1% to £471 million from £843 million and diluted earnings per share fell to 23.8 pence from 40.3 pence a year ago.   

SThree Plc edged up a fraction to 432.65 pence after the specialty staffing company reported higher net fees in the fiscal first quarter of 2023. 

Group net fees in the first quarter ending in February increased 4% from a year ago. Net fees in the three largest markets representing a total of 73% of revenue, fees in Germany increased 7%, in the Netherlands rose 4% but fell 6% in the U.S. 

Just Eat Takeaway.com NV increased 1.3% to  1,562.38 pence after the food delivery company said it plans to reclassify some UK employees as self-employed, resulting in 1,700 redundancies.