Europe Movers: Ashmore, Pandora, Siemens Energy, Sainsbury, TeamViewer, TotalEnergies, Vestas

Inga Muller
07 Feb, 2024
Frankfurt

European markets lacked direction, and investors reacted to the latest batch of corporate results and looked beyond rate uncertainty.

The DAX index decreased 0.2% to 17,002.44, the CAC-40 index rose 0.05% to 7,641.82, and the FTSE 100 index inched lower by 0.2% to 7,668.52.

The yield on 10-year German bonds edged down to 2.28%; French bonds inched lower to 2.79%; the UK gilts edged lower to 3.98%; and Italian bonds inched lower to 3.85%.

Vestas Wind Systems soared 5.9% to DKK 199.30 after the Danish manufacturer of wind turbines swung to a full-year pre-tax profit on the back of strong gains in orders.

Revenue in the full-year 2023 increased to €15.4 billion, and order backlog at the end of the year surged to €60.1 billion.

Net income in the year swung to €78 million from a loss of €1.57 billion and gross margin increased to 8.3% from 0.8% a year ago, respectively.

Pandora declined 1% to DKK 1,019.50, and the fashion jewelry retailer announced a new DKK 4.0 billion stock repurchase plan.

Revenue in the fourth quarter increased to DKK 10.8 billion from DKK 9.8 billion, and operating profit rose to DKK 3.67 billion from DKK 3.2 billion a year ago.

The company reported a comparable sales store increase of 9% in the fourth quarter and a "high single-digit" increase in the first quarter.

TotalEnergies SE declined 2.5% to €58.77 after the French energy company reported lower-than-expected adjusted earnings per share.

TeamViewer SE jumped 4.5% to €14.37 after the German software company reported higher-than-expected sales in the fourth quarter.

Siemens Energy rose 0.6% to €14.32 after the company swung to a net profit of €1.58 billion in the fiscal first quarter and reiterated its full-year 2024 outlook.

Ashmore Group declined 0.6% to 209.40 pence after the UK-based emerging market-focused fund management company reported a decline in adjusted profit in the first half.

J Sainsbury plc declined 3.5% to 265.50 pence after the UK-based retailer reported a decline in merchandise sales in the 16-week period ending on January 6.