Market Updates

Europe Movers: Automakers, Air Liquide, IG Group, LondonMetric Property, Nordex, Trainline, ThyssenKrupp

Inga Muller
14 Sep, 2023
Frankfurt

    European markets lacked direction and the European Central Bank lifted three key lending rates by 25 basis points, 10th rate increase in a row. 

    The DAX index decreased 0.06% to 15,646.76, the CAC-40 index increased 0.07% to 7,227.50 and the FTSE 100 index inched up 0.7% to 7,575.60.

    Air Liquide SA declined 0.4% to €163.66 and the company announced to invest €400 million to build 200 MW Normad'Hy electrolyzer.

    Trainline Plc soared 11.2% to 275.40 pence after the online rail ticketing service provider announced a £50 million stock repurchase plan after reporting better-than-expected first-half results. 

    IG Group Holdings plc inched higher 1.4% to 677.0 pence after the online trading platform reported a marginal increase in its fiscal first quarter revenue. 

    LondonMetric Property plc decreased 0.9% to 173.60 pence after the company announced the sale of a portfolio of industrial estates to Hines for £40.5 million. 

    Nordex SE jumped 4.8% to €11.92 after the wind turbine maker won orders in Spain to supply and install 24 N163 turbines to the renewable energy company BayWa r.e. 

    Automakers across Europe declined after Beijing blasted the European Commission's investigation into Chinese subsidies to electric vehicle makers. 

    BMW, Renault, Volkswagen and Mercedes Benz declined between 2% and 3% on the worries of a Chinese retaliation against the European automakers. 

    ThyssenKrupp AG decreased 2.3% to €7.0 after the company said it plans to reorganize its businesses around key technologies that promote decarbonization. 

     

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