Market Updates
Europe Movers: Anglo American, BMW, BP PlC, Evotec, Harbour Energy
Bridgette Randall
11 Apr, 2023
Frankfurt
European markets opened sharply higher but trimmed early gains after cautious sentiment in New York.
The DAX index added 0.5% to 15,668.53, the CAC-40 index increased 0.9% to 7,391.03 and the FTSE 100 index advanced 0.3% to 7,391.03.
Resource stocks jumped on the hopes that China may provide additional stimulus to accelerate economic rebound.
Anglo American, Antofagasta and Glencore advanced between 2% and 3%.
BMW AG increased 1.7% to €100.32 after the global automobile manufacturer reported a rise in electric vehicle sales.
BMW Group worldwide sales in the first quarter declined 1.5% to 588,138 units but battery powered electric vehicles soared 83% to 64,647 units.
Vehicle sales in the U.S. increased 11.4% to 89,750 units.
The automaker confirmed strong sales in the U.S. but slow recovery in China and ban on sales in Russia impacted negatively overall sales in Europe.
BP Plc increased 0.3% to 533 pence and Harbour Energy PLC dropped 1.7% to 283 pence after the two companies agreed to jointly build and develop Viking transportation and storage project.
Evotec SE declined 6.4% to €18.84 after the German biodiscovery firm closed its data communication network following a cyber attack late last week.
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