Europe Movers: 888 Holdings, Antofagasta, Enel, Just Eat, Luxury Stocks, Renault, Wizz Air

Inga Muller
17 Jan, 2024
New York City

European markets declined more than 1% after rate-cut hopes receded, China's GDP growth slowed to a three-decade low, and the prospect of a regional war in the Middle East rose after Iran stepped up attacks.

The DAX index decreased 1.1% to 16,397.04, the CAC-40 index fell 1.1% to 7,314.56, and the FTSE 100 index dropped 1.6% to 7,433.07.

The yield on 10-year German bonds edged up to 2.23%; French bonds inched higher to 2.76%; the UK gilts edged higher to 3.87%; and Italian bonds increased to 3.84%.

Just Eat Takeaway.com NV decreased 0.4% to 1,139.0 pence in a weak market after the food delivery company lifted its full-year core profit outlook.

Enel SpA declined 1.9% to €6.62 after the company launched a €1.75 billion bond offering.

Antofagasta plc declined 2.6% to 1,579.50 pence after the mining company released its annual production estimates.

Wizz Air Holdings fell 3.4% to 1,952.14 pence after the discount airline said it would pay an additional £1.2 million to customers in compensation.

Renault SA dropped 1.8% to €33.85 in a weak market, and the automaker reported global sales volume rose 9% from a year ago to 2.23 million in 2023. 

In the year, passenger car sales increased 6.9% from a year ago to 1.83 million and light commercial vehicle sales soared 20% to 397,594 vehicles. 

In France, Renault brand passenger car sales jumped 18% to 277,914 sales and light commercial vehicle sales advanced 13% to 112,569. 

Luxury fashion houses with significant sales in China declined after China's economy expanded at the slowest pace in nearly three decades.

Kering SA declined 2.6% to €349.55, LVMH dropped 2% to €652.90, and Hermes International fell 1.1% to €1,805.20.

888 Holdings PLC dropped 7.4% to 75.03 pence after the international sports betting and gambling company reported weak revenue in the fourth quarter and fiscal 2023.