Market Updates
Europe Movers: H&M, Moonpig Group, Vestas Wind Systems
Bridgette Randall
30 Mar, 2023
Frankfurt
Resource stocks led the gainers after crude oil, copper and iron ore prices advanced.
Shell Plc, BP Plc, Glencore, Antofagasta, and Anglo American increased between 1% and 3%.
H & M Hennes & Mauritz AB surged 16.3% to DKK 142.88 after the apparel retailer reported a surprise operating profit in the quarter ending in February.
Revenue in the fiscal first quarter increased 12% to SEK 54.8 billion and operating profit rose to SEK 725 million from SEK 458 million a year ago.
Sellpy, the second-hand platform and an associated company is consolidated into the H&M group from the first quarter resulting in a one-time gain SEK 999 million.
After-tax net income in the fiscal first quarter increased to SEK 540 million compared to SEK 217 million and earnings per share rose to SEK 0.33 from SEK 0.13 a year ago.
Moonpig Group Plc soared 14.7% to 130.30 pence after the online greeting card and gifting platform in the UK and the Netherlands reiterated its annual revenue and adjusted earnings outlook.
The company estimated annual revenue for the financial year ending April remain "unchanged" at around £320 million.
The company added adjusted operating earnings guidance for the year also "remain unchanged."
Vestas Wind Systems A/S added 5.0% to DKK 197.92 after the Danish wind turbine maker won a 1.31 GW onshore order in Brazil.
Casa dos Ventos Energias Renovaveis S/A placed an order for 756 MW wind turbine order for Rio Grande do Norte (Serra do Tigre) and 554 MW Bahia (Babilônia Centro) orders to be commissioned by 2025.
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