Market Updates
Movers: De La Rue, JD Wetherspoon, Metro Bank, Philips, Renault, Shell, Volvo
Inga Muller
06 Oct, 2023
New York City
European stocks edged higher on the final day of the week and investors reacted to corporate news and factory orders rebound in Germany and the home prices decline in the U.K.
The DAX index increased 0.8% to 15,193.87, the CAC-40 index rose 0.7% to 7,050.02 and the FTSE 100 index rose 0.5% to 7,488.54.
The yield on 10-year German bonds increased to 2.90%, French bonds traded higher to 3.49%, the UK gilts edged up to 4.59% and Italian bonds rose to 4.93%.
Koninklijke Philips NV dropped 8.7% to €16.93 after the U.S. Food and Drug Administration said it is not happy with how the Dutch healthcare company handled its recent product recall.
Volvo AB Class B increased 0.5% to kr 224.15 and Renault SA advanced 0.1% to €35.10 after the two vehicle makers announced a plan to form a new company to make electric vans.
Metro Bank Holdings Plc soared 20% to 45.0 pence after the UK-based bank initiated talks to sell £3 billion of mortgage loans it held in its portfolio.
De La Rue Plc increased 1.7% to 61.50 pence after the security solutions provider said its adjusted first-half profit is likely to be slightly higher than its previous estimate of breakeven.
J D Wetherspoon Plc decreased 6.9% to 648.50 pence despite the UK-based pub chain operator returning to annual profit for the first time after three years since the coronavirus pandemic.
Shell Plc advanced 1.7% to 2,575.50 after the integrated oil and natural gas company revised its third-quarter natural gas production forecast.
Annual Returns
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Earnings
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