Market Updates
Europe Movers: Banks, Energy Stocks, MTU Aero Engines, Lonza Group, Societe Generale
Inga Muller
19 Sep, 2023
Frankfurt
Market indexes in Europe lacked direction and investors avoided taking larger positions ahead of rate decisions from the Bank of England and the U.S. Federal Reserve.
The DAX index increased 0.01% to 15,727.98, the CAC-40 index advanced 0.4% to 7,299.54 and the FTSE 100 index inched up 0.2% to 7,670.19.
Banks in Germany, France, UK and Italy traded higher for the second day in a row on the expectations of higher interest rates.
Deutsche Bank, Commerzbank, BNP Paribas, Standard Chartered Bank, HSBC and Barclays advanced between 0.5% and 1.4%.
Societe Generale SA declined for the second day in a row and extended two-day losses to 13% after the new chief executive lowered the bank's target returns over the next three years.
MTU Aero Engines AG declined 1.9% to €164.65 and extended 2023 losses to 20% after the heavy-duty diesel engine maker issued a sales and earnings warning because of its expanded geared turbofan inspection program.
On September 13, the company estimated adjusted revenue between €6.1 billion and €6.3 billion and earnings before interest and taxes of €800 million.
Lonza Group jumped 2.5% to CHF 434.90 a day after plunging as much as 15% on the worries about the company's medium term earnings outlook after the company said its chief executive Pierre-Alain Ruffieux will resign at the end of the month by mutual agreement.
Crude oil and natural gas companies traded higher after Brent crude oil jumped to a 10-month high.
Annual Returns
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|