Europe Movers: Associated British Foods, Aston Martin, Euronext, SBB, SCOR

Bridgette Randall
26 Jun, 2023
New York City

The DAX index decreased 0.3% to 15,782.42,  the CAC-40 index declined 0.02% to 7,162.62 and the FTSE 100 index dropped 0.3% to 7,437.15.

The yield on 10-year German Bunds inched lower to 2.31%, French bonds traded lower to 2.83%, the UK gilts edged down to 4.30% and Italian bonds decreased to 3.94%.

Bank stocks were hit the hardest in today's session after political turmoil heightened energy supply worries and stoked fears of renewed inflation. 

Commerzbank, Deutsche Bank, Lloyds Banking Credit Agricole and BNP Paribas declined between 2% and 3%. 

Aston Martin Lagonda Global Holdings Plc soared 9.4% to 358 pence after the luxury automaker struck a deal with the U.S.-based Lucid Group to manufacture "high performance" electric vehicles. 

Associated British Foods plc decreased 0.9% to 1,934.50 pence despite the company lifting its outlook for the fiscal year and said adjusted operating profit for the full year to be "moderately ahead of last year."

Group revenue in the third quarter ending on May 27 increased 16% from a year ago to £4,7 billion, driven by 13% in retail segment to £2.0 billion and 18% in food segment to £2.7 billion. 

The company also completed £319 million of £500 million its stock repurchase program.   

Euronext NV declined 0.6% to €63.05 after the stock exchange group agreed to sell its 11.1% stake in LCH SA to LCH Group Holdings Limited for €111 million. 

SCOR SE increased 0.8% to €24.95 after the company appointed Fabrice Bregier as chairman of the company's board. 

SBB Group soared 11.6% to SKK 3.67 after the embattled Swedish property group said it is actively looking to sell its remaining 51% stake in its education unit.