Europe Movers: Alstom, BT Group, Hikma Pharma, Hugo Boss, Lufthansa, Schneider Electric, Shell, Trainline

Inga Muller
02 Nov, 2023
New York City

Benchmark indexes in Europe advanced for the fourth day in a row, and bond yields edged lower after the U.S. Federal Reserve paused its rate hike but left the door open for another rate hike.

The DAX index increased 1.5% to 15,145.14, the CAC-40 index advanced 1.6% to 7,042.96, and the FTSE 100 index edged up 1.2% to 7,430.87.

The yield on 10-yetrar German bonds decreased to 2.70%, French bonds traded lower to 3.32%, the UK gilts edged up to 4.41%, and Italian bonds inched lower to 4.48%.

BT Group Class A jumped 6.4% to 118.19 pence after the UK-based broadband and mobile services provider reported better-than-expected quarterly results.

Shell plc jumped 2.2% to 2,711.05 pence after the oil company reported a third-quarter profit of $6.2 billion and launched a $3.5 billion stock repurchase plan.

Trainline Plc soared 8.2% to 284.22 pence after an online train travel information provider and ticketing platform reported positive results in the first half.

Net rail ticket sales in the first half increased by 23% to £2.6 billion, following the post-pandemic rebound in travel.

Revenue in the first half increased 19% to £197 million from £165 million, operating profit advanced 36% to £23 million from £17 million, and basic earnings per share rose to 2.9 pence from 2.6 pence a year ago.

The company revised its estimated full-year revenue growth range to between 17% and 22% from the previous range of between 13% and 22%.

The company also tightened its full-year revenue growth range between 15% and 20%, from the previous range between 13% and 22%.

Hikma Pharmaceuticals Plc declined 3.5% to 1,847.0 pence despite the company forecasting core operating margin growth for its generic at the upper end of its previous announced range.

Alstom SA jumped 4.6% to €13.39 after the French-rail service company won an eight-year services contract extension of €950 million from CrossCountry trains, part of Arriva Group, in the United Kingdom.

Schneider Electric SE added 3.5% to €150.22 after the company said it finalized the acquisition of EcoAct SAS, a climate consulting and net zero solutions provider.

Hugo Boss AG increased 5.7% to €58.58 after the fashion apparel company reported positive third-quarter earnings and reiterated its full-year 2023 outlook.

Deutsche Lufthansa AG jumped 7.7% to €7.07 after the airline reported positive third-quarter results amid rising demand for international travel.

Total group revenue increased 8% to €10.3 billion from €9.5 billion, and the passenger count increased to 38 million from 33 million a year ago, respectively.

Net income increased 47% to €1.2 billion from €809 million, and earnings per share advanced to €1.0 from 68 euro cents a year ago.

The German state-owned airline said fourth quarter booking volume percentage growth is in double digits, and the airline expects to achieve full-year 2023 adjusted operating earnings of more than €2.6 billion.