Market Updates
Europe Movers: Airbus, Barclays, BNP Paribas, Ipsen, Mercedes Benz, Nestle, Volkswagen
Inga Muller
27 Jul, 2023
Frankfurt
European markets traded higher and the European Central Bank lifted rates by 25 basis points to a 22-year high as expected.
The DAX index increased 0.9% to 16,282.34, the CAC-40 index advanced 1.3% to 7,412.32 and the FTSE 100 index rose 0.3% to 7,699.89.
The yield on 10-year German bonds decreased to 2.44%, French bonds traded lower to 2.99%, the UK gilts edged down to 4.28% and Italian bonds increased to 4.10%.
Barclays Plc declined 3.9% to 157.64 pence and the bank said it expects to earn less interest income in the UK on the higher interest rates and stubborn inflation.
BNP Paribas SA jumped 3.5% to €60.16 after the company announced its plan to start stock repurchase starting next month.
Airbus SE declined 2.3% to €130.0 after the aircraft maker reported a fall in net income for the fist-half.
Ipsen SA increased 1.5% to €112.10 after the pharmaceutical company lifted its annual outlook.
Safran SA jumped 1.8% to €147.80 after the jet engine maker revised higher its full-year outlook for the current fiscal year.
Volkswagen AG declined 2.6% to €145.40 after the automaker lowered its annual estimate and Mercedes Benz Group AG jumped 2.5% to €71.64 after the luxury automaker revised higher its full-year estimate.
Nestle SA jumped 1.9% to CHF 107.28 after the Swiss food and beverage company increased its organic sales growth estimate.
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