Europe Movers: Anheuser-Busch, BASF, BBVA, BP, Bouygues, Carlsberg, Elementis, Siemens Energy, Spectris, Thales, Uniper, Wartsila

Inga Muller
31 Oct, 2023
Frankfurt

Market indexes in the eurozone advanced after inflation in the currency union declined to a two-year low and GDP contracted in the third quarter. 

The DAX index increased 0.6% to 14,805.80, the CAC-40 index advanced 0.9% to 6,888.56, and the FTSE 100 index edged higher by 0.5% to 7,363.12.

The yield on 10-yetrar German bonds decreased to 2.78%, French bonds traded lower to 3.39%, the UK gilts edged up to 4.49%, and Italian bonds inched higher to 4.69%.

Anheuser-Busch Inbev SA jumped 3.9% to €52.86 after the company reported higher-than-expected sales growth in the third quarter.

Carlsberg A/S Class B declined 1.3% to €111.90 after the brewery warned of weak consumer sentiment in Europe and Southeast Asia.

BP Plc decreased 4.0% to 505.70 pence after the U.K.-based energy company reported a sharp decline in quarterly profit and smaller-than-expected results from its gas trading operation.

Last week, Exxon Mobil and Chevron also reported a sharp decline in quarterly revenue and profit, reflecting lower crude oil and natural gas prices from a year ago.

BBVA SA declined 1.1% to €7.42 despite the Spanish bank reporting strong third-quarter earnings.

Wartsila Oyj Abp soared 16.2% to €11.32 after the power engineering company reported improved profitability in the third quarter.

Spectris Plc advanced 4% to 3,127.0 pence after the precision instrumentation and control company said 2023 revenue is expected to be near the top end of previous guidance.

Thales SA declined 2.6% to €137.35 after the French defense electronics contractor said new order inflow in the nine-month period ending in September declined 18% from a year ago.

Order intake in the period declined to €12.4 billion from €15.5 billion, a decrease of 20% in nominal terms and 18% on an organic basis from a year ago.

In the nine-month period, sales increased 4.5% to €12.8 billion, and in the third quarter, sales rose 2.4% to €4.1 billion.

The company reiterated full-year 2023 organic sales growth between 5% and 7%, or between €17.9 billion and €18.2 billion.

Elementis plc gained 4.9% to 118.0 pence, despite the chemical company reporting a decline in revenue in the third quarter.

BASF SE increased 4.2% to €43.39 after the German chemical company announced its plan to cut investment and reduce its operating costs.

Siemens Energy AG declined 2.4% to €8.23 after the company said it plans to sell its India-listed Siemens Ltd. to its former parent, Siemens AG.

Uniper SE jumped 7.3% to €4.74 after the German utility company swung to a nine-month profit of €9.8 billion.

Bouygues SA increased 4.4% to €33.16 after the diversified French conglomerate reported strong nine-month results and reiterated its financial year 2023 outlook.