Europe Movers: EasyJet, Ericsson, Givaudan, Publicis, Suedzucker, Restaurant Group, Siemens Energy

Inga Muller
12 Oct, 2023
Frankfurt

European benchmark indexes advanced to 3-week highs after bond yields edged lower and investors reacted to corporate earnings news. 

The DAX index increased 0.7% to 15,562., the CAC-40 index rose 0.6% to 7,175.02 and the FTSE 100 index advanced 0.8% to 7,678.89.

The yield on 10-year German bonds decreased to 2.72%, French bonds traded lower to 3.24%, the UK gilts edged up to 4.35% and Italian bonds rose to 4.66%.

LM Ericsson Class B advanced 3.5% to skr 55.28 after the Swedish telecom company booked a $2.9 billion charge linked to its acquisition of Vonage in 2022. 

EasyJet plc decreased 5.2% to 414.0 pence despite the U.K.-based discount airline reporting record fiscal fourth quarter profit.

Givaudan SA increased 1.5% to CHF 2,937.0 despite the  Swiss fragrance company reporting a decline in sales in its latest quarter. 

Restaurant Group Plc soared 37.6% to 66.4 pence after the operator of pubs and restaurants agreed  to go private in a $625 million deal with Apollo Global Management. 

Suedzucker AG increased 1.4% to €14.30 after the world's largest sugar producer revised its annual earnings outlook.

The sugar and starch products maker said consolidated sales in the first-half ending in August rose 10% to €5.08 billion from €4.6 billion a year ago. 

Operating earnings in the first-half increased to €739 million from €465 million a year ago. 

The company forecasted full-year revenue to range between €10.0 billion and €10.5 billion compared to €9.5 billion and operating earnings in the range of €1.3 billion to €1.4 billion compared to the previous estimate between €1.2 billion and €1.4 billion and €1.1 billion a year ago. 

Siemens Energy AG added 2.3% to €12.48 after the company agreed to sell its Trench business to an investment firm Triton as the company sharpened its focus on its core business. 

Publicis Groupe SA increased 4.8% to €76.84 after the public relations and advertising company reported an increase in revenue in the third quarter. 

Publicis revised higher its organic growth outlook for the full-year to range between 5.5% and 6% from the previous estimate of 5.0%.