Europe Movers: Barclays, BBVA, Deutsche Bank, Deutsche Borse, Deutz, Hellofresh, Schneider Electric, SimCorp, STMicro, Unilever

Bridgette Randall
27 Apr, 2023
Frankfurt

BASF SE declined 3.9% to €48.18 after the German chemical company reiterated its full-year 2023 outlook but highlighted growing macroeconomic uncertainty.  

Barclays PLC advanced 3.8% to 159.72 pence after the U.K. based bank reported first quarter profit jumped 27% to £1.78 billion. 

Total income in the first quarter increased 11% to £7.2 billion and profit attributable to shareholders increased to £1.8 billion from £1.4 billion and diluted earnings per share rose to 11.3 pence. 

Net interest margin in the quarter increased to 3.18% from 2.62% a year ago. 

Loan to deposit ratio from the previous quarter was stable at 73.0%. 

Deutsche Bank AG increased 0.9% to €9.64 after Germany's largest bank reported its highest profit in a decade. 

Deutsche Boerse AG declined 5.9% to €172.35 after the German stock exchange operator agreed to acquire Danish software and services provider SimCorp AS for 735 kroner per share or $4.3 billion in an all-cash offer.

Sim Corp AS soared 38.3% to DKK 731.50 in Copenhagen trading. 

Deutz AG increased 3.2% to €5.97 after the German engine maker expressed more confidence about the full-year 2023 results. 

Consolidated revenue in the first quarter increased 15.5% to €517 million from €447.9 million in the quarter a year ago. 

The company estimated EBIT, before exceptional items, €32 million compared to €15.8 million a year ago, above the market expectation of €27.9 million. 

New orders in the quarter increased 3% to €526 million from €509.6 million a year ago and the company estimated full-year revenue between €1.7 billion and €1.9 billion and engine deliveries between 175,000 and 195,000. 

Hellofresh SE soared 6.5% to €26.88 after the meal-kit provider reported a smaller-than-expected decline in its core earnings. 

The meal preparation kit provider said first quarter revenue increased 5.3% to €2.02 billion from €1.92 billion a year ago. 

Active customers decreased 4.8% from a year ago but rose fractionally from the fourth quarter to 8.1 million and average order per customer held at 4.0. 

The company reiterated its revenue growth in constant currency between 2% and 10% and adjusted operating earnings between €460 million and €540 million. 

STMicroelectronics NV declined 4.2% to €40.45 after the Switzerland-based advanced electronics  company announced quarterly results ahead of market expectations. 

The company said revenue in the first quarter increased 19.8% to $4.2 billion and net income soared 39.8% to $1.04 billion from $747 million and diluted earnings per share increased to $1.10 from 79 cents a year ago. 

The company forecasted second quarter revenue of $4.28 billion with a band of $350 million, a sequential increase of 0.8%, and gross margin of 49.0% with a band of 200 basis points.  

Schneider Electric SE increased 2.4% to €155.60 after the French multinational company reported first quarter results and lifted its 2023 outlook. 

Revenue in the first quarter increased 12.3% to €8.5 billion, driven by 34.2% increase in sales in North America to €2.4 billion and 13.2% increase to €1.6 billion in Western Europe.  

Unilever PLC gained 1.9% to 4,455.0 pence after the consumer products maker reported higher-than-expected first quarter sales despite the worries of higher prices. 

Weir Group Plc decreased 1.0% to 1,874.0 pence after the Scottish engineering company reiterated its 2023 outlook.