Market Updates
Europe Movers: Adidas, Air France KLM, Enquest, Hapag Lloyd, Klockner, Puma, Vinci
Inga Muller
22 Dec, 2023
Frankfurt
Benchmark indexes in Paris and Frankfurt edged lower but held firm in London.
The DAX index decreased 0.2% to 16,657.0, the CAC-40 index decreased 0.1% to 7,562.92, and the FTSE 100 index inched higher by 0.05% to 7,698.79.
The yield on 10-year German bonds decreased to 1.97%; French bonds inched lower to 2.48%; the UK gilts inched lower to 3.52%; and Italian bonds inched lower to 3.60%.
Adidas AG declined 6.5% to €182.52 and Puma SE decreased 5.9% to €50.60 after the U.S. rival Adidas lowered its revenue outlook and announced a plan to trim costs by $2 billion over the next three years.
Hapag Lloyd increased 1% to €144.30 after the shipping company said it plans to reroute 25 ships by the year's end to avoid Red Sea water lanes.
Air France KLM decreased 0.9% to €13.61 after the company said it would consider appealing the cancellation by the European Court of French state aid during the COVID-19 pandemic approved by the European Union.
Klockner & Company rose 2.8% to €6.76 after the German steel and metal distributing company said it plans to sell segments of its European commodity distribution business.
Vinci SA increased 0.4% to €114.14 after the French engineering construction company confirmed that its subsidiary Seymour Whyte was awarded a contract to modernize Cressbrook Dam in the Toowoomba region near Brisbane.
Enquest Plc soared 12.4% to 16.0 pence after the independent energy company said it agreed to sell 15% each of its Bressay field and floating production vessel in the North Sea to a unit of Viaro Energy.
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