Market Updates
Europe Movers: Novartis, Sandoz, Spirent Communications, Superdry, Tesco
Inga Muller
04 Oct, 2023
Frankfurt
Market indexes in Europe rebounded and the euro hovered near its one-year low and bond yields advanced to 12-year highs.
The DAX index increased 0.4% to 15,132.79, the CAC-40 index added 0.4% to 7,028.63 and the FTSE 100 index rose 0.2% to 7,472.03.
The yield on 10-year German bonds increased to 2.94%, French bonds traded higher to 3.52%, the UK gilts edged up to 4.59% and Italian bonds rose to 4.93%.
Novartis AG decreased 4.5% to CHF 88.01 after the Swiss pharmaceutical company completed the spinoff of its generic pharma division Sandoz though a dividend-in-kind distribution to its shareholders and American Deposit Receipt holders.
Tesco Plc rose 3.9% to 269.60 pence after the British grocery retailer lifted its annual earnings outlook.
Spirent Communications Plc plunged 31.3% to 90.35 pence after the British Telecom controlled testing services provider lowered its outlook.
Superdry Plc soared 20% to 52.06 pence after the struggling fashion retailer said it plans to sell its digital and intellectual assets in South Asia to Reliance Retail.
Annual Returns
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Earnings
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