Europe Movers: Danone, Hapag-Llyod, Maersk, Plexus Holdings, TotalEnergies

Inga Muller
02 Jan, 2024
Frankfurt

European stocks traded higher on the first day of the new year, and oil complex stocks were in focus amid rising tensions in the Middle East and the Red Sea. 

The DAX index increased 0.5% to 16,832.64, the CAC-40 index advanced 0.2% to 7,554.32, and the FTSE 100 index inched higher by 0.01% to 7,733.74.

The yield on 10-year German bonds increased to 2.07%; French bonds inched higher to 2.60%; the UK gilts edged up to 3.64%; and Italian bonds advanced to 3.74%.

Danone SA rose 0.8% to €59.16 after the French dairy company said it had agreed to sell its organic dairy business in the U.S. to a private equity firm, Platinum Equity.

Energy companies traded higher amid rising tensions in the Red Sea after Iran sent warships into the region after the U.S. Navy destroyed three Houthi rebel-controlled ships.

BP plc jumped 1% to 470.85 pence, and Shell PLC advanced 0.02% to 2,572.0 pence.

TotalEnergies SE increased 1.4% to €61.73, and the company said it commenced production at an offshore platform located in the Santos Basin off the coast of Rio de Janeiro, Brazil.

Hapag Llyod gained 1.6% to €138.90 after the German shipping company said on Friday that it plans to divert shipping away from Suez Canal Red Sea shipping lanes for security reasons.

AP Moeller-Maersk gained 4.5% to DKK 12,550.0, and the Danish shipping company temporarily suspended shipping through the Red Sea following an attack on one of its ships by Yemeni rebels.

Plexus Holdings PLC dropped 19.5% to 16.95 pence after the company expanded its license agreement with Schlumberger NV for $5.2 million.

The new intellectual property agreement provides a royalty-free perpetual-use license to Schlumberger for a wider set of  applications but also frees the company to pursue other clients and markets to license its metal seal technology while continuing to operate in the surface wellhead production sector.