Europe Movers: Hella, Metso, NatWest Group, Segro, Swiss Re, Umicore, Volkswagen

Inga Muller
16 Feb, 2024
Frankfurt

European markets advanced in Friday's trading and extended weekly gains, bond yields held firm and the euro and the pound edged slightly lower. 

The DAX index increased by 0.8% to 17,176.04, the CAC-40 index rose 0.6% to 7,789.81, and the FTSE 100 index inched higher by 0.7% to 7,653.85.

The yield on 10-year German bonds edged up to 2.38%; French bonds inched higher to 2.85%; the UK gilts edged lower to 4.09%; and Italian bonds inched higher to 3.8%.

Swiss Re declined 2.2% to CHF 101.35 despite the reinsurance company reporting a sharply higher profit in 2023, driven by improvements in its property and casualty segments. 

Metso Oyj soared 11.7% to €10.66 after the Finnish mining company reported better-than-expected fourth-quarter earnings, and the company also guided an upbeat outlook. 

Volkswagen Group increased 0.9% to €120.24 after the German vehicle maker signed an agreement with India's Mahindra & Mahindra to supply key electric components for its electric vehicles. 

Segro plc increased 1% to 842.0 pence after the warehousing group narrowed its fiscal 2023 loss driven by rent growth and higher occupancy. 

Hella declined 0.9% to €80.70 despite the German automotive supplier reporting improved adjusted sales and operating income in fiscal 2023. 

NatWest Group soared 6% to 226.70 pence after the UK-based financial service group reported its best annual profit in 2023 since the financial crisis of 2007.

Umicore SA declined 2.2% to €20.50 after the Belgian mineral and battery company reported lower-than-expected sales and outlook. 

Earnings before taxes, interest, depreciation, and amortization declined 18% to €472 million due to lower metals prices and investment costs.