Europe Movers: AstraZeneca, British Land, Commerzbank, Euronext, JD Sports, London Stock Exchange, SAP AG, Siemens, UBS

Bridgette Randall
17 May, 2023
Frankfurt

AstraZeneca increased 0.6% to 12,146.0 pence after the drug maker reported positive results in the discovery of a lung cancer trial. 

SAP SE advanced 1.6% to €123.28 after the German software company announced a stock repurchase program of up to €5 billion.  

The company estimated cloud revenue in 2025 of more than €21.5 billion and total revenue of more than €37.5 billion and free cash flow of €7.5 billion. 

The company announced mid-term financial estimates at its SAP Sapphire conference for analysts in Orlando, Florida. 

Commerzbank AG declined 6.6% to €9.23 despite the German lender saying net income in the first quarter nearly doubled. 

London Stock Exchange Group Plc dropped 3.5% to 8,172.0 pence after a consortium of investors sold stocks in the exchange operator worth about £2.7 billion.  

British Land Company PLC decreased 5.2% to 358.30 pence after the company reported a pre-tax loss in the fiscal year 2023 ending in March. 

Net rental income increased to £446 million from £425 million and the real estate company swung to a net loss of £1.03 billion from £965 million and basic earnings per share was (112.0) pence compared to 103.8 pence a year ago. 

JD Sports Fashion Plc declined 5.8% to 160.45 pence after the specialty retailer said pre-tax income declined the fiscal year 2023 ending in January. 

Revenue increased to 10.1 billion from 8.5 billion and profit after-tax decreased to 440.9 million from 654.7 million and basic earnings per share dropped to 2.76 pence from 7.17 pence a year ago. 

Siemens AG increased 2.5% to €153.42 after the Germany based industrial engineering company lifted its annual sales outlook on stronger order inflow and higher-than-expected profit in the fiscal second quarter. 

Revenue in the second quarter increased 14% from a year ago to €19.4 billion and new orders rose 13% to €23.6 billion, driven by substantially higher volume from large orders in Mobility which included a €2.9  billion order for locomotives and associated maintenance in India. 

The book-to-bill ratio was 1.22. 

Net income soared to €3.6 billion from €1.2 billion a year ago and earnings per share rose to €4.39 from €1.29 a year ago. 

Net income in the quarter was helped by one-time gain of €1.6 billion from reversal of an impairment of Siemens’ stake in Siemens Energy AG. 

Euronext SE declined 3.2% to €67.20 after the financial exchange operator reported 11.7% decline in foreign exchange revenue in the first quarter. 

UBS Group AG increased 1.7% to CHF17.22  after the Swiss bank said it expects to take a loss of $17.1 billion linked to the takeover of Credit Suisse AG.