Europe Movers: Automakers, BHP Group, Kier Group, Richemont, Sainsbury, Telefonica, Watches of Switzerland

Inga Muller
18 Jan, 2024
Frankfurt

European markets rebounded after falling in three previous sessions, and passenger car registration eased on the weakness in the German market in December. 

The DAX index increased 0.5% to 16,474.56, the CAC-40 index rose 0.5% to 7,354.37, and the FTSE 100 index decreased 0.05% to 7,441.98.

The yield on 10-year German bonds edged up to 2.28%; French bonds inched higher to 2.81%; the UK gilts edged higher to 3.94%; and Italian bonds increased to 3.90%.

Automakers were in focus after car registration in the European Union declined for the first time in December after rising for 16 months in a row.

Volkswagen Group increased 0.2% to €108.90, Mercedes-Benz Group gained 0.8% to €59.78, Renault gained 2.2% to €34.53, Peugeot Invest SA added 0.8% to €99.40, and Stellantis NV inched up 0.6% to €19.76.

Richemont soared 9.3% to CHF 115.20 after the Swiss luxury-goods company reported a rebound in sales in its fiscal third quarter.

Telefonica SA decreased 0.7% after the Spanish telecom company completed the sale of a green bond worth €1.75 billion.

J. Sainsbury plc added 0.5% to 286.70 pence after the company said it is exploring business alternatives for its financial service unit.

BHP Group decreased 0.6% to 2,369.85 pence after the company said it may write down assets in its nickel mining unit.

Kier Group advanced 7% to 120.0 pence after the construction company said performance in its first half of the fiscal year was better than in the comparable period in the previous year.

Watches of Switzerland Group plunged 31% to 399.40 pence after the UK-based retailer lowered its fiscal year 2024 guidance.