Market Updates
Europe Movers: Bellway Flutter Entertainment, Nordex, Ocado Group, Smiths Group, Wacker Neuson
Inga Muller
26 Mar, 2024
Frankfurt
European markets edged slightly higher, and investors debated future rate paths amid an uncertain macroeconomic outlook.
The DAX index increased by 0.5% to 18,343.28, the CAC-40 index rose by 0.1% to 8,163.0, and the FTSE 100 index inched higher by 0.1% to 7,917.82.
The yield on 10-year German bonds edged down to 2.34%; French bonds inched lower to 2.81%; the UK gilts edged lower to 3.97%; and Italian bonds inched higher to 3.63%.
Ocado Group jumped 7.7% to 487.40 pence after the grocery delivery company reported better-than-expected first-quarter results, driven by a 10.6% increase in revenues.
Flutter Entertainment edged up 0.2% to 17,255.0 pence after the online sports betting and gambling company reported better-than-expected 2023 financial results.
Nordex SE increased 0.8% to €12.15 after the wind turbine company won an order to supply and install 57 turbines in its Delta 4000 series to a customer in South Africa.
Smiths Group advanced 3.5% to 1,714.0 pence after the engineering company reported strong interim results and launched a £100 million stock repurchase program.
Bellway PLC advanced 1.6% to 2,674.0 pence despite the home builder reporting a decline in pre-tax profit in the first half.
Wacker Neuson SE decreased 1.7% to €17.52 after the German construction equipment and machinery maker said full-year revenue is likely to be flat or decline slightly in the current year, citing macroeconomic uncertainty in all market segments of the world.
Annual Returns
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Earnings
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