Movers: Coca Cola HBC, Continental AG, Delivery Hero, Hill & Smith, Vestas Systems

Inga Muller
09 Aug, 2023
Frankfurt

European markets rebounded and banks recovered losses in the previous session after Italy's finance minister clarified windfall tax level. 

Italian banks jumped between 2% and 4% after finance minister clarified windfall tax level to not exceed 0.1% of bank assets. 

The DAX index increased 1.2% to 15,963.70, the CAC-40 index rose 1.4% to 7,369.09 and the FTSE 100 index added 0.8% to 7,589.29.  

The yield on 10-year German bonds increased to 2.46%, French bonds traded higher to 3.03%, the UK gilts edged up to 4.39% and Italian bonds decreased to 4.13%.

The euro edged lower to $1.092, the British pound to $1.270 and the U.S. dollar fetched 87.66 Swiss cents.

ABN Amro Bank NV decreased 2.8% to €14.31 after the Dutch lender postponed its plan to buy back shares to the fourth quarter. 

Mining companies rebounded on the hopes that the latest China deflation data may spur policymakers in providing additional stimulus to the property sector. 

Glencore, Antofagasta, and Angle American jumped between 1% and 2%. 

Continental AG edged up 0.8% to €70.50 despite the tire maker lowering its annual outlook. 

Delivery Hero SE soared 7.2% to €39.94 after the food delivery services platform revised higher its revenue outlook. 

Vestas Wind Systems AS increased 1.8% to Kr 182.82 after the wind turbine company reported a narrower second quarter loss and maintained its full-year 2023 outlook. 

Hill & Smith PLC jumped 6.2% to 1,670.0 pence after the infrastructure company reported record first-half results. 

Coca Cola HBC jumped 2.1% to €26.45 after the soft drinks beverage maker revised higher its organic growth estimate for the fiscal year 2023 and reiterated its operating earnings forecast.