Market Updates
Europe Movers: Alstom, Galp Energia, Hipgnosis Song Fund, Tesco, Tyman
Inga Muller
22 Apr, 2024
Frankfurt
European markets rebounded after three weeks of tumultuous trading that saw indexes decline more than 5%.
Market indexes edged higher after tensions eased between Iran and Israel for now and crude oil prices turned lower from their five-month highs.
The DAX index increased by 0.4% to 17,814.66; the CAC-40 index rose by 0.2% to 8,037.43; and the FTSE 100 index inched higher by 0.6% to 8,007.47.
The yield on 10-year German bonds edged up to 2.53%; French bonds inched higher to 3.03%; the UK gilts edged higher to 4.24%; and Italian bonds inched higher to 3.90%.
Tyman soared 31% to 388.50 pence after the U.K.-based doors and windows supplier agreed to be acquired by the U.S.-based metal windows maker Quanex for about £788 million in cash and stock.
Alstom SA jumped 0.5% to €15.19 after the French train maker agreed to sell its North American rail conventional signaling business to Knorr-Bremse for €630 million.
Hipgnosis Song Fund soared 10% to 101.0 pence after alternative asset manager Blackstone offered to buy the troubled music rights investor for $1.5 billion.
Galp Energia rose 16% to €18.67, and the Portuguese oil company said the Mopane oil field off the coast of Namibia could have at least 10 billion barrels of oil.
Tesco PLC increased 2.8% to 289.20 pence after the UK-based grocery retailer commenced its first tranche of its £1 billion stock repurchase program.
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