Market Updates

Europe Movers: Danone, Deutsche Bank, LVMH, MTU Aero Engines, Natwest, Orange, PUMA, Renault, Rolls-Royce, RWE

Inga Muller
26 Jul, 2023
Frankfurt

    Deutsche Bank AG increased 1.3% to €10.54 after the largest German bank reported a fall in second quarter earnings. 

    RWE AG rallied 1.8% to €40.67 after the German utility company raised its full-year earnings outlook. 

    MTU Aero Engines AG dropped 2.8% to €207.0 after the company warned that the Geared Turbofan inspection program will negatively impact its free cash flow.  

    Puma SE advanced 3.6% to €57.90 after the German footwear company reported a 11% jump in sales in the second quarter.  

    LVMH declined 4.5% to €815.20 after the luxury goods maker reported a surprise fall in sales in the U.S. amid economic uncertainties. 

    Danone SA declined 2.7% to €55.21 after the French dairy products maker said it will separate its Russia operation in July and take a one-time charge of €700 million. 

    Renault SA declined 1.5% to €38.94 and the French automaker finalized its restructured alliance with Nissan. 

    Orange SA dropped 2.6% to €10.45 after the French telecom network operator said consolidated net income in the first-half declined by €378 million to €1.09 billion. 

    Rolls-Royce Holdings Plc soared 20.3% to 183.56 pence after the aircraft engine maker raised its full-year operating profit estimate by about 45%. 

    Natwest Group Plc declined 3.5% to 242.50 pence and chief executive officer Alison Rose resigned and said he made "a serious error of judgement" in talking to a reporter about finances of UK politician Nigel Farage. 

    Llyods Banking Group Plc fell 3.2% to 44.64 pence after the UK-banking group reported first-half earnings below market expectations. 

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