Market Updates
Europe Movers: Automakers, Pearson, Just Eat Takeaway, Ryanair, STMicroelectronics, UK Home Builders
Inga Muller
20 Sep, 2023
Frankfurt
European markets rebounded after investors reacted positively to inflation reports from Germany and the U.K.
The DAX index increased 0.6% to 15,753.82, the CAC-40 index advanced 0.4% to 7,310.83 and the FTSE 100 index inched up 0.8% to 7,718.97.
The yield on 10-year German bonds increased to 2.71%, French bonds traded higher to 3.26%, the UK gilts edged down to 4.26% and Italian bonds rose to 4.49%.
European automakers advanced after the EU passenger car registrations jumped 21% from a year ago in August.
BMW AG jumped 2.3% to €99.95, Mercedes Benz Group AG gained 2.3% to €68.34 and Volkswagen AG increased 2.2% to €128.65.
Pearson Plc dropped 1.4% to 872.20 pence and the UK textbook and education company appointed Microsoft executive Omar Abbosh as its new chief executive.
Abbosh will take the new position from early 2024.
STMicroelectronics NV edged higher 0.9%to €40.81 and the advanced chipmaker extended chief executive's employment contract.
Just Eat Takeaway.com NV jumped €13.06 after the company won a court battle to sue New York City over a food delivery charge limit.
UK home builders advanced after home prices rose 0.6% in twelve months to August.
Persimmon Plc increased 5% to 1,099.50 pence, Taylor Wimpey added 5.6% to 121.80 pence and Barratt Developments Plc increased 4.4% to 464.40 pence.
Ryanair Holdings Plc edged a fraction higher to $101.43 despite the airline facing investigation from the Italian competition regulator.
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