Market Updates
Europe Movers: BT Group, Heineken, Marshalls, Novo Nordisk, Senior Plc
Inga Muller
31 Jul, 2023
Frankfurt
European stocks advanced after the second quarter GDP rose in the eurozone and inflation in July eased but core inflation stayed higher than the overall inflation.
The DAX index increased 0.1% to 16,484.34, the CAC-40 index jumped 0.5% to 7,510.99 and the FTSE 100 index decreased 0.06% to 7,689.35.
The yield on 10-year German bonds increased to 2.48%, French bonds traded higher to 3.05%, the UK gilts edged up to 4.34% and Italian bonds increased to 4.12%.
Heineken NV declined 7.1% to €89.98 after the brewing company lowered its 2023 earnings outlook.
Revenue in the six-months ending in June increased 2% of £354 million from £348 a year ago, which includes revenue for four months from the recent acquisition of Marley.
Excluding Marley, comparable revenue declined 13% from a year ago.
Adjusted pre-tax profit in the first-half declined to £33 million from £45 million a year ago.
Diageo and Anheuser Busch InBev fell more than 1% after Heineken lowered its earnings guidance.
Novo Nordisk AS advanced 0.7% to $157.82 after the company launched its weight loss drug Wegovy in Germany.
Senior Plc declined 2.1% to 166.80 pence despite the automobile and aircraft parts supplier reporting higher profit in the first-half profit.
Marshalls Plc fell 5.2% to 261.72 pence after the building and roofing products company lowered its annual outlook.
BT Group declined 1.9% to 121.70 pence after the company appointed Allison Kirkby as its new chief executive.
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