Europe Movers: Associated British Foods, Engie, Persimmons, Resource Stocks, UBS Group, Watches of Switzerland

Inga Muller
07 Nov, 2023
Frankfurt

European market indexes declined for the second day in a row, and bond yields extended the decline to the third week in a row. 

The DAX index decreased 0.3% to 15,092.93, the CAC-40 index fell 0.5% to 6,977.85, and the FTSE 100 index fell 0.1% to 7,409.80.

The yield on 10-year German bonds decreased to 2.70%, French bonds traded lower to 3.29%, the UK gilts edged down to 4.30%, and Italian bonds inched higher to 4.52%.

Energy and resource companies were in focus after China reported mixed international trade data and tensions in the Middle East receded.

BP plc fell 1.2% to 485.40 pence, Shell PLC dropped 1.5% to €30.79, and TotalEnergies SE eased 1.4% to €61.76.

Glencore PLC declined 2% to 433.25 pence, Anglo American plc fell 2.8% to 2,155.50 pence, and Antofagasta plc dropped 1.9% to 1,323.50 pence. 

UBS Group AG gained 3% CHF (22.54) after the Swiss banking group reported progress in trimming costs and stronger-than-expected client inflows.

Watches of Switzerland Group PLC jumped 8.2% to €6.55 after the luxury watch retailer reported improving sales in its fiscal second quarter, and the retailer set the target to double its sales and profit by fiscal year 2028.

Persimmon plc increased 4.6% to 1,132.0 pence after the UK-based home builder lifted its estimate of new home completions.

Associated British Foods plc soared 6.4% to 2,237.0 pence after the Primark owner reported a 5% increase in annual income and the food company declared a special dividend.

Engie SA increased 2.1% to €15.46 after the French energy company said operating earnings for the nine-month period rose 14.7% to €8.3 billion from €7.3 billion in the same period a year ago.

The company also revised its annual outlook.