Europe Movers: ABN Amro, Bilfinger, Capgemini, Coca-Cola HBC, Delivery Hero, Dunelm, Heineken, Schindler, ThyssenKrupp

Inga Muller
14 Feb, 2024
Frankfurt

European markets advanced in cautious trading a day after indexes fell sharply after the latest inflation report in the U.S. poured cold water on rate-cut hopes.  

The DAX index increased 0.1% to 16,896.03, the CAC-40 index rose 0.3% to 7,649.74, and the FTSE 100 index inched higher by 0.6% to 7,556.02.

The yield on 10-year German bonds edged up to 2.36%; French bonds inched higher to 2.85%; the UK gilts edged higher to 4.07%; and Italian bonds inched higher to 3.90%.

Banks across Europe declined after rate-cut hopes waned in the eurozone. 

Societe Generale, BNP Paribas, UniCredit, and Commerzbank edged lower. 

ABN Amro Bank increased 4.2% to €14.02 after the Dutch lender's quarterly earnings were ahead of market expectations. 

ThyssenKrupp declined 8.5% to €5.05 after the German steelmaker lowered its full-year profit and sales outlook, citing weakening demand. 

The company also took on impairment charges in its fiscal first quarter.

Schindler Holding increased 2% to CHF 212.80 after the Swiss elevator company estimated revenue growth of "low single-digit" in 2024. 

Bilfinger SE soared 10.1% to €42.16 after the company won a large maintenance order from INEOS for the Forties Pipeline System. 

Delivery Hero jumped 5.5% to €19.74 after the German food delivery company said its organic cash flow is sufficient to cover its bond and debt maturities. 

Heineken NV dropped 5% to €88.48 after the alcoholic beverage maker issued a cautious outlook for 2024, citing uncertainty in global geopolitical and economic conditions. 

Capgemini advanced 4.5% to €215.50 after the French IT consulting group reported solid results in 2023 despite the weak macroeconomic environment. 

Dunelm Group decreased 0.7% to 1,078.0 pence after the UK-based home goods retailer reported strong results in the interim period for 26 weeks ending on December 30. 

The company signaled that margin growth is likely to slow down in the coming months. 

Coca-Cola HBC gained 5.7% to 2,332.0 pence after the Hellenic bottling company reported a record annual profit in 2023 and the company lifted its dividend.