Europe Movers: AstraZeneca, Darktrace, Gerresheimer, Givaudan, Lufthansa, Publicis, Societe Generale

Inga Muller
11 Apr, 2024
Frankfurt

European markets traded sideways ahead of the widely anticipated rate decisions from the European Central Bank and comments from EDB president Christine Lagarde. 

Investors are hoping to get more clarity about the rate path and projections of interest rates, economic growth, and inflation rates. 

The DAX index decreased by 0.6% to 17,994.90, the CAC-40 index fell by 0.2% to 8,033.83, and the FTSE 100 index inched lower by 0.2% to 7,941.36.

The yield on 10-year German bonds edged up to 2.45%; French bonds inched higher to 2.93%; the UK gilts edged higher to 4.23%; and Italian bonds inched lower to 3.81%.

Givaudan SA declined 1.3% to CHF 3,980.0, despite the Swiss fragrance and flavor maker reporting higher first-quarter sales. 

Societe Generale increased 0.9% to €25.36 after the French lender agreed to sell its equipment leasing and financing business to BPCE for €1.1 billion. 

AstraZeneca PLC rose 1.9% to 10,942.0 pence after the biopharmaceutical company announced its plan to increase its dividend by 7% in 2024. 

Publicis Groupe SA added 1.5% to €102.10 after the French advertising company reported organic sales in the first quarter increased by 4.9%, driven by strong performance in all regions. 

Deutsche Lufthansa decreased 2.5% to €6.98 after the state-controlled German airline suspended all flights to Tehran because of the rising tensions in the Middle East. 

Gerresheimer AG dropped 4.4% to €6.98 after the German manufacturer of packing products for medication and drug delivery devices reported that its first-quarter income slightly declined. 

Darktrace PLC increased 6.3% to 464.90 pence after the cybersecurity and artificial intelligence company returned to revenue growth in its fiscal third quarter. 

Revenue increased 26.5% from a year ago to $176.1 million, and annual recurring revenue increased 23.5% at the end of the March quarter to $731.1 million. 

The company raised its revenue growth expectation to 25.5%, 50 basis points higher than the upper end of its previously announced range, reflecting strong demand from customers and higher conversion rates. 

The company revised its adjusted operating earnings margin to 23% from the minimum of 21% in the previous estimate.