Market Updates

Europe Movers: Atoss Software, Banco Santander, FDM Group, H&M, Novo Nordisk

Inga Muller
31 Jan, 2024
Frankfurt

    European markets inched higher and markets indexes in France and Germany hovered near record highs. 

    The DAX index decreased 0.1% to 16,945.48, the CAC-40 index rose 0.1% to 7,683.51, and the FTSE 100 index inched lower by 0.1% to 7,657.63.

    The yield on 10-year German bonds edged down to 2.20%; French bonds inched higher to 2.69%; the UK gilts edged lower to 3.87%; and Italian bonds inched lower to 3.74%.

    Atoss Software jumped 3.7% to €254.0 after the German software company reported an increase in revenue and earnings in the fiscal year 2023.

    FDM Group Holdings PLC decreased 1.5% to 444.0 pence after the UK-based IT services provider reported a slight increase in its annual revenue.

    Revenue for 2023 is expected to increase by 1% to £334 million from £330 million a year ago.

    On a constant currency basis, revenue increased by 2%, or £7.4 million.

    The number of consultants placed with clients declined by 21% to 3,892 from 4,905 in the previous year.

    Banco Santander SA increased 2.4% to €3.73 after the Spanish bank estimated a higher profit in the current year.

    H&M dropped 9% to SEK 151.94 after the Swedish retailer appointed a new chief executive and the company missed its operating profit estimate.

    Novo Nordisk increased 0.4% to DKK 751.20 after the Danish pharmaceutical group estimated a double-digit increase in sales and operating profit growth, driven by strong demand for its diabetes drug Ozempic and weight loss drug Wegovy.

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