Europe Movers: ABB, BHP, Centamin, Danone, easyJet, Nokia, Sartorius

Inga Muller
18 Apr, 2024
Frankfurt

European markets advanced, bond yields edged slightly lower, and the euro held firm as investors debated future rate paths and appropriate levels for interest rates.  

The DAX index increased by 0.5% to 17,767.51; the CAC-40 index rose by 0.4% to 8,010.58; and the FTSE 100 index inched higher by 0.2% to 7,864.08.

The yield on 10-year German bonds edged up to 2.45%; French bonds inched lower to 2.95%; the UK gilts edged lower to 4.23%; and Italian bonds inched lower to 3.84%.

BHP Group declined 0.5% to 2,354.0 pence after iron ore production declined in the fiscal third quarter. 

Centamin PLC dropped 4.5% to 123.40 pence after production in the first quarter slightly declined. 

Danone SA rose 1.8% to €59.60 after the yogurt maker posted better-than-expected results and reiterated its fiscal year 2024 sales outlook. 

Net sales in the first quarter decreased by 2.5% to 6.78 billion from 6.96 billion in the quarter a year ago. 

Comparable sales in the quarter rose 4.1% after taking into account the sale of its French biscuit brand, Michel et Augustin. 

The company guided comparable sales to increase between 3% and 5%, with a moderate improvement in recurring operating margin. 

easyJet rose 2.5% to 531.0 pence after the discount airline forecasted a smaller-than-expected loss in the first half. 

Passengers in the fiscal second quarter increased to 16.8 million from 15.6 million, and seats flown increased to 19.3 million from 17.7 million, resulting in a slight decline in load factor to 87% from 88% in the quarter a year ago. 

Total group revenue and headline costs for the first half are expected to be around £3,270 million and around £3,620 million, respectively. 

ABB Ltd. increased 5.4% to CHF 43.98 after the Swiss engineering company reported higher operating earnings and offered a positive outlook for revenue growth in 2024. 

Nokia increased 0.1% to €3.17 after the Finnish telecom equipment maker reported weaker-than-expected profit in the first quarter. 

Sartorius AG declined 10.4% to €223.0 after the German lab supply maker reported weaker-than-expected new orders and revenue in the first quarter. 

Automakers advanced following the release of monthly passenger car registrations in the European Union. 

Volkswagen increased 0.5% to €121.65, Mercedes-Benz Group added 0.4% to €74.70, Renault added 0.9% to €48.75, and Peugeot Invest gained 0.7% to €110.20. 

Stellantis declined 0.4% to €24.18.