Market Updates
Europe Movers: Abrdn, Casino Guichard, PUMA, SEB, Schaeffler, Smith & Nephew
Inga Muller
27 Feb, 2024
Frankfurt
European markets struggled to advance, bond yields edged higher, and the euro held firm against the U.S. dollar.
The DAX index increased by 0.5% to 17,503.79, the CAC-40 index was nearly unchanged at 7,929.66, and the FTSE 100 index inched higher by 0.03% to 7,686.67.
The yield on 10-year German bonds edged up to 2.41%; French bonds inched higher to 2.89%; the UK gilts edged lower to 4.13%; and Italian bonds inched lower to 3.87%.
SEB SA declined 6% to €107.0 after Peugeot Invest sold its stake in the consumer appliance maker.
Abrdn PLC declined 1.8% to 158.65 pence after the company narrowed its full-year losses and announced its plan to cut 500 jobs as part of its cost reduction program.
Smith & Nephew increased 1.2% to 1,139.50 pence after the company reported improving financial results in the fourth quarter and in full-year 2023.
Casino Guichard Perrachon soared 29% to €0.68 after a French court approved the company's restructuring plan.
Bouygues SA advanced 5.9% to €35.98 after the diversified construction conglomerate reported core annual profit ahead of its own target.
Schaeffler AG gained 2.2% to €6.47 after the company announced its plan to build a new manufacturing plant for e-mobility solutions in the U.S.
PUMA SE increased 0.8% to €42.75 after the sportswear maker signaled softer revenue conditions in the first half of 2024, but the company reiterated its full-year 2024 outlook.
Annual Returns
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Earnings
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