Market Updates
Europe Movers: Clarkson, Endeavour Mining, Revolution Bars Group, Sodexo
Inga Muller
05 Jan, 2024
Frankfurt
Stock markets in Europe declined after rallying in previous eight weeks in a row as investors dialed back rate-cuts expectations in early 2024.
The DAX index decreased 0.8% to 16,492.03, the CAC-40 index fell 1.1% to 7,369.63, and the FTSE 100 index inched lower by 0.9% to 7,655.02.
The yield on 10-year German bonds decreased to 2.16%; French bonds inched higher to 2.70%; the UK gilts edged up to 3.79%; and Italian bonds advanced to 3.85%.
Revolution Bars Group plunged 21.7% to 4.26 pence after the company said it would close its facilities located in Derby, Reading, St Peters, Liverpool, and Wilmslow.
Endeavour Mining declined 11.3% to 1,503.0 pence after the company removed chief executive Sebastien de Montessus with immediate effect.
The company said its board is investigating misappropriation of $5.9 million and allegations of personal misconduct with colleagues.
The Board has appointed Ian Cockerill, Deputy Chairman of the Board, as Chief Executive Officer and Executive Director with immediate effect.
Clarkson PLC increased 7% to 3,495.10 pence after the integrated shipping service provider said full-year pre-tax earnings are likely to be ahead of market expectations.
Sodexo SA decreased 0.3% to €101.95 after the French food and facilities management company said fiscal first-quarter sales increased 3.1% and the company reiterated its outlook for fiscal 2024 and 2025.
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