Europe Movers: Adyen, ArcelorMittal, BAT, Credit Agricole, Compass, Ipsen, Maersk, Unibail-Rodamco, Unilever

Inga Muller
08 Feb, 2024
Frankfurt

European stock market indexes advanced, bond yields edged lower, and the euro and the pound retained a downward bias against the U.S. dollar.

The DAX index increased 0.2% to 16,956.58, the CAC-40 index rose 0.7% to 7,662.40, and the FTSE 100 index inched higher by 0.3% to 7,649.20.

The yield on 10-year German bonds edged up to 2.29%; French bonds inched higher to 2.80%; the UK gilts edged lower to 3.97%; and Italian bonds inched higher to 3.87%.

ArcelorMittal rose 2.6% to €25.86 despite the France-based global steel company reporting a net loss of $2.9 billion in the December quarter. 

Adyen NV soared 19.1% to €1,413.80 after the Dutch payment service provider reported a sharp jump in its net profit in the second half of fiscal 2023.

AP Moeller-Maersk Class B dropped 13.1% to DKK 11,080.0 after the ocean freight shipping company reported a net loss of $442 million in the fourth quarter of 2023.

AstraZeneca declined 3.2% to 10,152.0 pence after the British drug company reported a lower-than-expected profit in its latest period.

BAT soared 7.6% to 2,492.50 pence after the company said it plans to lower its stake in India-based hotel-to-tobacco conglomerate ITC.

Compass Group jumped 3.3% to 2,215.20 pence after the catering company reported fiscal first quarter profit increased by 11.7% and reiterated its full-year 2024 outlook.

Credit Agricole declined 5.6% to €12.29, despite the French lender reporting strong fourth-quarter earnings.

Unilever plc increased 2.9% to 4,014.0 pence after the consumer products company announced a €1.5 billion stock buyback plan.

Ipsen decreased 4.5% to €102.30 after the bio-pharmaceutical company reported a nearly flat profit of €647.2 million in fiscal 2023.

Unibail-Rodamco-Westfield increased 5.4% to €70.54 after the commercial real estate company forecasted a profit in fiscal 2024.

Fiscal year 2023 revenue decreased 0.6% to €2.21 billion from €2.22 billion, net income swung to a loss of €1.6 billion from €178 million, and adjusted recurring earnings per share increased to €9.62 from €9.31 a year ago, respectively.

The company estimated 2024 average recurring earnings per share between €9.65 and €9.80, citing strong underlying performance.

The company proposed a cash distribution of €2.50 per share, to be approved by the board of directors on April 30 and paid on May 16.