Market Updates

Europe Movers: Arcelor Mittal, Ascential, Clariant, Frasers Group, Glencore, Reckitt Benckiser

Inga Muller
30 Oct, 2023
Frankfurt

    European market indexes rebounded on Monday as investors prepared for a busy week of earnings and rate decisions from the central banks in the U.S., the U.K., and Japan. 

    The DAX index increased 0.6% to 14,775.64, the CAC-40 index advanced 0.7% to 6,840.90, and the FTSE 100 index edged higher by 0.8% to 7,350.11.

    The yield on 10-yetrar German bonds decreased to 2.80%, French bonds traded lower to 3.42%, the UK gilts edged up to 4.55%, and Italian bonds inched higher to 4.73%.

    Clariant AG rose 3.3% to CHF 12.79 after the company said it plans to acquire Lucas Meyer Cosmetics from International Flavors and Fragrances for $810 million.

    Ascential jumped 27% to 273.60 pence after the UK-based information and analytics firm said it plans to sell its digital commerce and consumer research unit for an enterprise value of £1.4 billion.

    Glencore Plc rose 1.1% to 450 pence despite the mining company lowering its 2023 nickel production estimate.

    Frasers Group edged up 1.1% to 805 pence after the company announced the sale of the Missguided brand and intellectual property rights associated with the brand.

    ArcelorMittal SA decreased 4.6% to €20.09 after a fire killed 32 people at a mine in Kazakhstan controlled by the company.

    Reckitt Benckiser Group Plc advanced 1.6% to 5,540 pence, and the consumer products maker launched the first tranche of its stock repurchase program.

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