Europe Movers: Aurubis, Clarkson, LSL Property, UK Home Builders, Siemens Energy, UNITE Group

Inga Muller
07 Aug, 2023
Frankfurt

European markets attempted a rebound after a sell-off in the previous week and investors reacted to the latest corporate earnings. 

The DAX index decreased 0.4% to 15,891.68, the CAC-40 index fell 0.2% to 7,303.29 and the FTSE 100 index dropped 0.5% to 7,524.96.  

In the last week, the DAX index declined 3%, the CAC-40 fell 2.8% and the FTSE 100 index dropped 2.2%. 

UK home builders declined after the release of the Halifax housing report. 

Barratt Developments PLC decreased 0.4% to 456.40 pence, Taylor Wimpey plc declined 0.8% to 118.0 pence and Persimmon Plc fell 0.6%. 

Weak base metal prices weighed on mining stocks on the market jitters ahead of the inflation and international trade balance data from China later this week. 

Anglo America, Antofagasta and Glencore fell between 1% and 3%. 

Clarkson Plc declined 2.7% to 2,795.0 pence after the shipping services provider reported price and volume softening trends in some sectors. 

UNITE Group Plc fell 2.2% to 941.50 pence after the student housing provider's debt rating was downgraded by a rating agency.  

LSL Property Services Plc dropped 10.6% to 252.50 pence after the mortgage and valuation services provider issues a profit warning citing mortgage market weakness in refinancing and new mortgage sale. 

Revenue in the first-half declined to £104 million from £160.9 million and operating profit plunged to £3.5 million from £14.2 million.    

Siemens Energy AG dropped 6.7% to €14.51 after the company reported a wider loss in the latest quarter and lowered its full-year outlook. 

Aurubis AG plunged 10.5% to €75.98 after the company reported weaker-than-expected results in the nine months of fiscal 2023.