Market Updates
Europe Movers: Luxury Stocks, Hill & Smith, FirstGroup, LSE, Volvo Group
Inga Muller
17 Nov, 2023
Frankfurt
European markets extended a two-week rally after eurozone inflation was confirmed at a two-year low.
The DAX index increased 1.0% to 15,950.76, the CAC-40 index rose 0.1% to 7,244.87, and the FTSE 100 index gained 0.8% to 7,474.0.
In the week, the DAX index increased 4.2%, the CAC-40 index advanced 2.2%, and the FTSE 100 index inched higher 1%.
Luxury stocks in Paris traded higher after tensions eased between China and the U.S. following the meeting between U.S. President Joe Biden and China's President Xi Jinping.
Kering SA increased 1.6% to €405.50, LVMH advanced €711.20, and Richemont SA gained 2.8% to CHF 113.10.
Hill& Smith PLC increased 3% to 1,888.0 pence after the UK-based engineering and construction company agreed to acquire the assets and business of United Fiberglass for $14 million.
FirstGroup plc increased 180.90 pence after the UK-based transportation company announced a partnership with Hitachi ZeroCarbon Limited related to the company's decarbonization program.
London Stock Exchange Group plc added 0.9% to 8,486.0 pence after the trading platform operator and financial data provider reiterated their 2023 outlook.
Volvo Car Corporation dropped 9.6% to 36.72 krona after the largest shareholder in the company, China-based Geely Automobile, announced the sale of 100 million shares at a deep discount.
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