Market Updates
Europe Movers: 888 Holdings, Banco Santander, Pepco, Phoenix Group, Ryanair, UK Home Builders
Inga Muller
28 Sep, 2023
Frankfurt
Stocks in the Euro Area and London traded sideways on the twin worries of inflation and interest rates.
The DAX index increased 0.04% to 15,224.97, the CAC-40 index advanced 0.2% to 7,087.56 and the FTSE 100 index decreased 0.5% to 7,555.62.
The yield on 10-year German bonds increased to 2.94%, French bonds traded higher to 3.50%, the UK gilts edged up to 4.51% and Italian bonds rose to 4.91%.
Pepco Group NV plunged 17% to 21.68 zloty after the Polish retailer cut its profit outlook for the second time in a month.
Ryanair Holdings Plc declined 0.5% to €15.47 after the discount airline cut its winter schedule citing delivery delays in Boeing aircraft.
Banco Santander SA increased 3.0% to €3.60 after the bank said it plans to repurchase 1.2 billion of its own stock.
Home builders in the UK declined on the worries of rising mortgage rates following the recent increase in bond yields.
Taylor Wimpey decreased 1.7% to 116.60 pence and Barratt Developments PLC fell 5.9% to 440.42 pence.
Phoenix Group Holdings Plc decreased 6.5% to 474.60 pence despite the insurance company reporting a narrower pre-tax loss in the first-half of 2023.
888 Holdings PLC dropped 15% to 93.35 pence after the online gambling platform trimmed its full-year earnings outlook.
Annual Returns
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Earnings
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