Market Updates
Europe Movers: Centrica, Durr Group, Hermes, LVMH
Bridgette Randall
13 Jun, 2023
Frankfurt
The DAX index increased 0.2% to 16,126, the CAC-40 index increased 0.03% to 7,252.63 and the FTSE 100 index traded down 0.1% to 7,560.76.
The yield on 10-year German Bunds inched higher to 2.37%, French bonds traded higher to 2.91%, the UK gilts edged up to 4.40% and Italian bonds decreased to 4.05%.
Luxury stocks in Paris advanced after China lowered its short term lending rate to shore up weak economic recovery.
LVMH increased 0.2% to €836.50 and Hermes International SCA edged up 0.1% to €1,975.60.
Mining and resource companies traded higher following a rebound in base metal and crude oil prices.
Antofagasta, Anglo American and Glencore jumped between 2% and 4%.
Centrica Plc fell 0.8% to 117.05 pence after the company posted strong results in the first five months of 2023 and reiterated its annual outlook near the top end of the market expectations.
Durr Group increased 0.9% to €5.55 after the plant engineering company said it has agreed to acquire BBS Automation Group.
The company estimated the enterprise value of BBS Automation between €440 million and €480 million.
After the takeover of the company, automation division revenue is estimated to more than double around €500 million in 2024.
Annual Returns
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Earnings
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