Market Updates
Europe Movers: 4imprint, BASF, Banks, Deliveroo, Richemont
Inga Muller
19 Jan, 2024
Frankfurt
European markets advanced for the second day in a row and bond yields rebounded.
Investors shifted their attention away from the rate path debate and focused on the flood of economic reports and corporate news released this week.
The DAX index increased 0.4% to 16,638.77, the CAC-40 index rose 0.4% to 7,429.14, and the FTSE 100 index increased 0.5% to 7,499.01.
The yield on 10-year German bonds edged up to 2.31%; French bonds inched higher to 2.84%; the UK gilts edged lower to 3.91%; and Italian bonds held at 3.90%.
BASF SE increased 0.4% to €43.68 after the German chemical company estimated a swing to a net income of €225 million in 2023.
Deliveroo PLC decreased 0.7% to 133.60 pence after the UK-based food delivery company said 2023 earnings are expected to be slightly ahead of its estimate.
4imprint Group soared 14.4% to 5,300.0 pence after the direct seller of promotional products said its sales and earnings for the full year are likely to exceed the previous year.
Richemont gained 0.6% to CHF 116.80, and the Swiss luxury goods company advanced for the second day.
In the previous session, stock soared more than 10% after December quarter sales jumped 8% to €5.6 billion, ahead of analyst expectations.
Banks were in focus after rate-cut hopes receded this week.
UBS, Barclays, Deutsche Bank decreased between 0.1% and 1.5% but Banco Santander, UniCredit, and Societe Generale gained between 0.2% and 0.4%.
Annual Returns
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Earnings
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