Market Updates
Europe Movers: 888 Holdings, L'Oreal, Man Group, Schneider Electric, Sodexo
Inga Muller
19 Apr, 2024
Frankfurt
European market indexes traded at six-week lows after tensions between Israel and Iran escalated, crude oil surged as much as 4%, and the bond yield edged slightly lower.
The DAX index decreased by 0.6% to 17,720.0; the CAC-40 index fell by 0.3% to 7,998.50; and the FTSE 100 index inched lower by 0.6% to 7,831.73.
The yield on 10-year German bonds edged up to 2.45%; French bonds inched lower to 2.97%; the UK gilts edged higher to 4.24%; and Italian bonds inched lower to 3.84%.
Sodexo increased 4.1% to €80.40 after the company reported a net loss in the first half, driven by the weakness in discontinued operations.
The company also confirmed organic revenue growth in 2024 will be near its previously estimated range of between 6% and 8%.
Schneider Electric SA decreased 2.7% to €209.90 after the digital automation and energy management company confirmed that it is in preliminary purchase talks with the U.S.-based software company Bentley Systems Inc.
Man Group declined 5% to 255.0 pence after the UK-based investment management company confirmed a net fund outflow of $1.6 billion in the first quarter.
888 Holdings increased 2.0% to 81.36 pence after the online gambling company reiterated its full-year outlook.
L'Oreal jumped 4.1% to €441.0 after the French cosmetic company reported a 9.4% increase in comparable sales in the first quarter.
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