Europe Movers: Atos, Commerzbank, Crest Nicholson, Dassault Aviation, Filtronic, Kontron, PageGRoup

Inga Muller
15 Jan, 2024
Frankfurt

European markets traded in a tight range with a downward bias after Germany's GDP shrank in 2023 and eurozone industrial activities declined for the third month in a row in December. 

The DAX index increased 0.9% to 16,696.72, the CAC-40 index rose 1.1% to 7,469.05, and the FTSE 100 index inched higher by 0.7% to 7,629.48.

The yield on 10-year German bonds edged down to 2.16%; French bonds inched lower to 2.69%; the UK gilts edged down to 3.80%; and Italian bonds decreased to 3.76%.

 

Europe Stock Movers

Commerzbank AG advanced 1.7% to €11.54 on speculation that the company  is in merger talks with Deutsche Bank. 

Deutsche Bank declined 0.7% to €11.97. 

Dassault Aviation dropped 5.7% to €178.80 after the French aircraft maker delivered fewer than expected aircrafts in 2023.  

Rafael aircraft orders in 2023 declined to 60 compared to 92 in 2022 and 23 Falcon aircraft orders were received compared to 64 in the previous year. 

Rafael aircraft deliveries decreased to 13 from 14 and Falcon aircraft deliveries eased to 26 from 32 in the previous year. 

However, Rafael aircraft backlog at the end of 2023 increased to 211 from 164 and  Falcon aircraft order rose to 84 from 87 a year ago. 

Atos SE dropped 13.5% to €4.21 after the company said free cash flow is likely to be slightly lower than expected in the second half of the year.

Kontron AG rose 1.6% to €21.60 after the IoT company estimated net income in 2024 to exceed €87 million. 

Filtronic Plc increased 3.8% to 21.81 pence after the maker of aerospace and defense infrastructure products won an order from QientiQ, a global defense company. 

Crest Nicholson Holdings PLC dropped 5.4% to 206.80 pence after the homebuilder lowered its profit outlook. 

PageGroup Plc decreased 2.2% to 446.45 pence after the UK-based recruiting company said current quarter earnings are likely to fall below its estimate on the weak demand.