Europe Movers: Banco BPM, Daimler Truck, Fresenius Medical, JD Sports, Purplebricks, SBB

Bridgette Randall
09 May, 2023
Frankfurt

Banco BPM SpA increased 4.99% to €3.95 after the Italian bank reported stronger-than-expected earnings and the bank lifted its annual outlook for 2023 and 2024. 

Net interest income in the first quarter increased 38.9% to 779.28 million from 561.18 million and net income advanced 49.2% to 265.32 million from 177.80 million a year ago. 

The company forecasted 2023 annual earnings of €1.1 billion or 75 cents from the previous estimate of 60 cents and 2024 earnings of €1.4 billion and earnings per share of 90 cents from the previous estimate of 75 cents. 

The company also announced its plan to distribute dividends of €1.25 billion in the next two years. 

Daimler Truck Holding AG declined 4.3% to €28.07 after the company reiterated its annual outlook and confirmed previously announced preliminary results. 

Fresenius Medical SE increased 6.9% to €27.21 after the German dialysis company reported adjusted earnings that were ahead of expectations. 

Revenue in the first quarter increased 3.4% to €4.7 billion and net income fell 45.1% to €86 million from €157 million and basic earnings per share declined to 29 cents from 54 cents a year ago. 

Adjusted earnings per share, which excludes the U.S. Provider Relief Funding and Ukraine war related items among other adjustments, declined to 53 cents from 67 cents a year ago. 

Fresenius forecasted 2023 annual revenue "to grow at a low to mid-single digit percentage rate" from €19.39 billion and operating income to remain "flat or decline by up to a high-single digit percentage rate" from €1.54 billion. 

JD Sports Fashion PLC increased 2.2% to 165.55 pence after the UK-based specialty retailer proposed to acquire France-based Groupe Courir for €520 million. 

Purplebricks Group PLC plunged 61.1% to 2.34 pence after the UK-based online real estate company said it may not return to positive cash generation in early fiscal 2024 as previously estimated.  

Swedish real estate company SBB declined 12.6% to a five-year low of SEK 7.34 after the company halted its dividend and canceled its SEK 2.63 billion rights offering after S&P Global lowered its debt rating to junk level.