Europe Movers: BAT, British Land, Currys, Hannover Re, Julius Baer, Logitech, ProsiebenSat

Inga Muller
18 Mar, 2024
Frankfurt

Benchmark indexes in Germany and France traded at new intraday highs ahead of rate decisions from the central banks of the U.S., UK, and Japan. 

The DAX index increased by 0.3% to 17,993.25, the CAC-40 index rose by 0.1% to 8,17182, and the FTSE 100 index inched higher by 0.102% to 7,738.82.

Last week, the DAX index gained 1.7%, the CAC-40 index advanced 2.4%, and the FTSE 100 index inched up 1.3%. 

The yield on 10-year German bonds edged up to 2.46%; French bonds inched higher to 2.90%; the UK gilts edged higher to 4.14%; and Italian bonds inched lower to 3.70%.

Hannover Re increased 1.1% to €247.30 after the German reinsurance company reported an increase in full-year net income, and the company estimated improved results in the fiscal year 2024. 

Logitech International decreased 7.4% to CHF 77.98 after the company announced the departure of its chief financial officer, Charles Boynton. 

Julius Baer declined 1.1% to CHF 49.57 after the Swiss financial services firm announced its targets for the next two years. 

Metals and mining companies declined after China reported construction industry investment shrank by more than 9% in the two months to February. 

Antofagasta and Anglo American declined by 1%, but Glencore increased by 1.2%. 

Marshalls declined 7% to 270.0 pence after the UK-based building materials group reported a decline in annual revenue and pre-tax earnings. 

Currys gained 2.5% to 58.25 pence after the UK-based electronics retailer raised its profit outlook. 

British American Tobacco increased 1.1% to 2,369.0 pence after the company launched its stock buyback program after selling part of its stake in ITC for £1.6 billion. 

ProsiebenSat Media decreased 0.2% to €6.32, and the company's major shareholder, MFE-MediatorEurope, stepped up its pressure on the German broadcaster to separate its e-commerce operations from its core television services. 

British Land Company advanced 2.8% to 378.90 pence after the company announced a 50:50 joint venture with Royal London Asset Management.