Europe Movers: Bodycote, Credit Agricole, Endeavour Mining, La Francaise des Juex, Kindred Group, SDI Group, Sandoz, Worldline

Inga Muller
22 Jan, 2024
Frankfurt

European markets advanced in cautious trading ahead of the monetary policy decision from the European Central Bank on Thursday. 

The DAX index increased 0.5% to 16,634.48, the CAC-40 index rose 0.5% to 7,410.28, and the FTSE 100 index inched up 0.1% to 7,468.16.

The yield on 10-year German bonds edged down to 2.26%; French bonds inched lower to 2.81%; the UK gilts edged lower to 3.89%; and Italian bonds inched lower to 3.84%.

Credit Agricole added 0.7% to €13.32 after the French bank said it acquired a minority 7% stake in payment and transaction processing services provider Worldline SA.

Worldline increased 3.7% to €13.60. and the terms of the transaction were not disclosed.

Kindred Group PLC jumped 16.7% to kr121.85 after the online gambling company confirmed it received a takeover proposal from La Francaise des Juex, valuing the company at €2.45 billion.

La Francaise des Juex added 5.9% to €36.40. 

Bodycote PLC jumped 4.3% to 621.75 pence after the heat treatment and thermal processing company provider said it plans to repurchase up to £60 million of its own shares.

Endeavour Mining PLC decreased 1.7% to 1,360.0 pence, despite the gold mining company estimating 2024 production to increase by 18%.

SDI Group PLC dropped 7.4% to 75.0 pence after its chief executive, Mike Creedon, stepped down on January 19.

Sandoz Group AG gained 1.9% to CHF 28.56 after the Swiss generic and biosimilar medicine maker announced to acquire ranibizumab CIMERLI from Coherus BioSciences, Inc. for an initial payment of $170 million with additional milestone-based payments.

The drug is used to treat macular degeneration in the retina, leading to progressive loss of vision.