Market Updates
Europe Movers: Forvia, Nnit, Temenos
Inga Muller
19 Feb, 2024
Frankfurt
Benchmark indexes in Europe hovered below record highs, and bond yields edged higher ahead of the release of minutes of the latest policy meetings from the European Central Bank and the Federal Reserve.
The DAX index increased by 0.4% to 17,056.02, the CAC-40 index fell 0.4% to 7,733.84, and the FTSE 100 index inched higher by 0.06% to 7,616.25.
The yield on 10-year German bonds edged up to 2.39%; French bonds inched higher to 2.82%; the UK gilts edged higher to 4.10%; and Italian bonds inched higher to 3.86%.
Forvia SE edged down 1.5% to €15.83 after the French automotive component maker reported quarterly results and estimated higher sales in 2024.
Temenos soared 7.2% to CHF 64.94 and rebounded after the Swiss software company's stock plunged more than 20% in Friday's trading after U.S.-based activist investor Hindenburg Research said it was shorting the stock.
Temenos is scheduled to release its financial statements after the close on Monday, and the company reiterated that its financial performance is in line with the preliminary results announced on January 19.
Nnit AS rose 3% to kr. 107.0, and the Danish life science information technology company is scheduled to release its annual earnings after the close of its regular trading session.
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