Market Updates
Europe Movers: BNP Paribas, Commerzbank, Credit Agricole, Deutsche Wohnen, Sika, WPP
Inga Muller
04 Aug, 2023
Frankfurt
European markets trimmed weekly losses and bond yields advanced on the final day of the week.
The DAX index increased 0.2% to 15,915.71, the CAC-40 index rose 0.5% to 7,297.59 and the FTSE 100 index edged higher 0.03% to 7,531.65.
For the week, the DAX index declined 3%, the CAC-40 fell 2.8% and the FTSE 100 index dropped 2.2%.
The yield on 10-year German bonds increased to 2.60%, 8rench bonds traded higher to 3.17%, the UK gilts edged up to 4.49% and Italian bonds increased to 4.29%.
Credit Agricole SA increased 6.4% to €11.90 after the French lender reported better-than-expected earnings in the second quarter, driven by consumer lending and insurance demand.
BNP Paribas SA jumped 1.5% to €59.18 after the French lender announced a stock buyback plan.
Sika AG decreased 0.5% to CHF 266.90 despite the Swiss chemical company revised higher 2023 sales outlook.
Deutsche Wohnen SE increased 0.6% to €22.42 after the company said it is reviewing the possibilities of selling its portfolio of nursing care properties.
Commerzbank AG declined 1.7% to €10.78 despite the German lender revising higher its net interest margin and 2023 earnings outlook.
WPP Plc declined 6.4% to 792.96 pence after the UK-based advertising group lowered its sales outlook for the year.
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