Market Updates
Europe Movers: Ashmore Group, Avon Protection, Sartorius, St James's Place
Inga Muller
13 Oct, 2023
Frankfurt
European markets trimmed weekly gains after inflation stayed elevated in France and accelerated in Spain in September.
The DAX index decreased 0.8% to 15,304.72, the CAC-40 index fell 0.6% to 7,061.84 and the FTSE 100 index eased 0.5% to 7,606.70.
For the week, the DAX index increased 1.1%, the CAC-40 index advanced 0.8% and the FTSE 100 index edged higher 1.4%.
Ashmore Group Plc declined 5.7% to 174.20 pence after the emerging market asset manager reported a 8% decline in assets under management in the fiscal first quarter.
Avon Protection Plc jumped 6.3% to 711.50 pence after the maker of helmets and body armor reported strong trading in the fiscal second-half ending in September compared to first-half.
The company said order book increased 10% from a year ago at the end of the second-half and adjusted operating margin was flat in the second-half compared to the first-half.
The company said net debt is estimated to decline to £65 million at the end of the fiscal year 2023 and is likely to fall by additional £20 million in the first quarter of 2024.
St James's Place PLC plunged 15.9% to 688.80 pence on news that the company is asked by regulators to overhaul its fee structure.
Sartorius AG declined 4.9% to €233.0 after the German pharmaceutical and laboratory equipment supplier reported weak third quarter results and lowered its annual outlook.
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