Market Updates
Europe Movers: Associated British Foods, SAP, Smurfit Kappa, Vallourec
Inga Muller
12 Sep, 2023
Frankfurt
European markets traded mixed and German wholesale inflation declined for the fifth month in a row in August and UK's jobless rate edged higher in three-month period to July.
The DAX index decreased 0.3% to 15,748.48, the CAC-40 index eased 0.1% to 7,270.28 and the FTSE 100 index inched up 0.6% to 7,540.95.
Smurfit Kappa Group Plc declined 9.7% to 2,772.0 pence after the packaging company announced a merger deal with the U.S. based WestRock.
Vallourec SA increased 0.2% to €12.32 after the French geothermal company reiterated its operating earnings outlook for the full-year 2023.
SAP SE declined 2.9% to €125.20 after the U.S. rival Oracle reported weaker-than-expected software license and hardware revenue in the fiscal first quarter.
Associated British Foods plc soared 7.0% to 2,141.04 pence after the company raised its full-year profit estimate for the second time in four months.
Annual Returns
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