Europe Movers: AP Moeller-Maersk, BMW, Currys, Deutsche Wohnen, Smith & Nephew, Societe Generale, Vonovia

Inga Muller
03 Nov, 2023
Frankfurt

The DAX index increased 0.2% to 15,176.14, the CAC-40 index fell 0.08% to 7,058.16, and the FTSE 100 index edged down 0.04% to 7,442.27.

The yield on 10-year German bonds increased to 2.71%, French bonds traded lower to 3.31%, the UK gilts edged up to 4.39%, and Italian bonds inched higher to 4.55%.

A P Moeller-Maersk AS Class B dropped 15% to DKK 10,300.0 after the shipping company said full-year operating profit is expected to fall to the lower end of its earlier estimate, and the company plans to eliminate at least 10,000 jobs.

Smith & Nephew plc increased 3.3% to 993.64 pence after the company refuted claims that the weight loss drugs were likely to hurt the company's sales.

Currys Plc gained 3.9% to 47.80 pence after the UK-based electrical retailer agreed to sell its Greece and Cyprus-based retail operation Kotsovolos to Public Power Corporation for €200 million.

Societe Generale SA increased 1.1% to €21.84 despite the French lender reporting a decline in third quarter net income.

BMW AG jumped 3.1% to €93.91 after the company said production volume increased 4.2% to 638,524 vehicles in the third quarter.

Group revenue increased 3.4% to €38.5 billion from €37.2 billion, net income declined 7.7% to €2.9 billion from €3.2 billion, and earnings per share fell to €4.20 from €4.25 a year ago.

All electric vehicle sales in the quarter surged 79.6% to 93,931 units, accounting for 15.1% of total deliveries.

Vonovia SE increased 6.2% to €24.17 after the German real estate company confirmed its full-year outlook.

Deutsche Wohnen SE advanced 2.4% to €21.98 after the real estate company reported preliminary funds from operations of €456.3 million, or €1.15 per share, in the 9-month period ending in September.