Europe Movers: Atos, BP, HSBC, Imperial Brands, Nordex, Siemens

Inga Muller
09 Apr, 2024
Frankfurt

Investors in Europe turned cautious and dialed back rate-cut expectations ahead of the European Central Bank's policy announcement on Thursday. 

The DAX index decreased by 0.7% to 18,198.56, the CAC-40 index fell by 0.6% to 8,072.06, and the FTSE 100 index inched higher by 0.1% to 7,952.90.

The yield on 10-year German bonds edged down to 2.39%; French bonds inched lower to 2.89%; the UK gilts edged higher to 4.08%; and Italian bonds inched lower to 3.73%.

Atos declined 15% to €1.96, after the struggling French IT company announced its restructuring plan details. 

Nordex SE gained 2.5% to Є12.88 after the German wind turbine company won an order to supply 295 MW wind turbines to EDF Renewables in South Africa. 

Siemens AG declined a fraction to Є173.68 after the German engineering company said its Supervisory Board extended the contract for President and Chief Executive Officer Roland Busch for five years, starting April 1, 2025. 

Imperial Brands inched up 0.4% to 1,737.50 pence after the UK-based tobacco company reiterated its revenue and earnings outlook for fiscal 2024. 

Mining companies advanced in London trading after the copper price in Shanghai traded at a record high on the expectation of rising demand for manufactured goods in developed economies and in China. 

Anglo American, Antofagasta, and Glencore advanced between 1% and 2%. 

BP plc increased 1.5% to 516.30 pence after the company said it anticipates strong performance in the first quarter. 

HSBC Holdings gained 0.3% to 646.40 pence after the UK- and China-based bank said it plans to sell its banking operation in Argentina to Grupo Financiero Gallicia for about $550 million.