Europe Movers: Ageas, Ashmore, Glanbia, Inchcape, Mitie, Temenos, Telenor

Inga Muller
15 Apr, 2024
Frankfurt

European stock markets advanced, bond yields edged higher, and the euro held firm in Monday's trading after the prospects of a wider war in the Middle East rose.  

The DAX index increased by 0.8% to 18,070.63, the CAC-40 index rose by 0.7% to 8,065.54, and the FTSE 100 index inched lower by 0.4% to 7,961.44.

Last week, the DAX index decreased 0.7%, the CAC 40 index fell 0.1%, and the FTSE 100 index added 1.5%. 

The yield on 10-year German bonds edged up to 2.40%; French bonds inched higher to 2.91%; the UK gilts edged higher to 4.24%; and Italian bonds inched lower to 3.77%.

Temenos soared 20% to CHF CHF 74.15 after the Swiss software company confirmed that a special committee by the board confirmed that the accusations levied by the U.S.-based short seller Hindenburg lacked merit and were misleading. 

Telenor ASA rose 0.5% to €10.42 after the Norwegian telecom company said its chief financial officer, Tone Hegland Bachke, plans to leave the company and join SHV Holdings NV. 

Mitie Group soared 6.6% to 119.0 pence after the company launched a stock buyback plan. 

Ageas increased 3.6% to €44.02 after Fosun Group agreed to sell its 9% stake in the Belgian insurance company for €730 million. 

Glanbia advanced 3.7% to €17.52 after the UK-based nutrition company agreed to acquire the U.S.-based Flavor Producers LLC for an initial consideration of $300 million. 

Ashmore Group declined 3% to 182.30 pence after the emerging markets fund manager said assets under management declined 4% from the previous quarter. 

Inchcape increased 5.3% to 735.50 pence after the UK-based automotive distributor agreed to sell its UK retail operations to Group 1 Automotive UK for £346 million.