Market Updates
Europe Movers: Automakers, Bayer, H&M, Luxury Stocks, Power Metal Resources, Vinci
Inga Muller
15 Sep, 2023
Frankfurt
The DAX index decreased 1.0% to 15,961.63, the CAC-40 index increased 1.6% to 7,425.67 and the FTSE 100 index inched up 0.9% to 7,738.88.
For the week, the DAX increased 0.7%, the CAC 40 advanced 1.6% and the FTSE 100 jumped 3.4%.
Luxury stocks advanced after China reported improving retail sales and industrial output data in August.
LVMH, Kering SA, Hermes International SCA and Richemont SA jumped between 2% and 5%.
H & M Hennes & Mauritz AB declined 4.3% to kr 164.16 after the Swedish retailer reported third quarter net sales below expectations.
Automakers traded higher on the hopes that EU tariffs on the imported Chinese electric cars could help the regional companies.
Renault, Mercedes, BMW and VW gained around 1%.
Stellantis NV advanced 1.5% and the company's U.S. operations Chrysler is facing strike at some of its plants.
Bayer AG increased 1.9% to €49.81 on news that the company is looking to cut management jobs and restructure its operations.
Vinci SA increased 1.2% to €107.52 after the French company's subsidiary Vinci Construction Grands Projets won an order of €160 million contract to design and build a 180,000 m3 liquefied natural gas tank in The Netherlands.
Power Metal Resources PLC increased 4.2% to 85 pence after the company said there may be two significant gold deposits at its Tati mine in Botswana.
Games Workshop Group Plc jumped 11.5% to 11,590.0 pence after the maker of the miniature Warhammer game said sales in its latest quarter were ahead of estimates.
Annual Returns
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Earnings
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