Europe Movers: AstraZeneca, Atos, Banco Bilbao, Deutsche Bank, Vivendi

Inga Muller
29 Apr, 2024
Frankfurt

European stock market indexes struggled in Monday's trading, and bond yields edged lower amid the ongoing rate path debate. 

The DAX index decreased by 0.05% to 18,152.12; the CAC-40 index rose by 0.1% to 8,093.87; and the FTSE 100 index inched higher by 0.5% to a new intraday record high of 8,179.73. 

The yield on 10-year German bonds edged down to 2.52%; French bonds inched lower to 3.02%; the UK gilts edged lower to 4.30%; and Italian bonds inched lower to 3.83%.

Banco Bilbao decreased 2.2% to €10.73, despite the Spain-based international bank reporting better-than-expected first quarter profit and lifting its profit outlook in 2024. 

Deutsche Bank dropped 6.5% to €15.46 after Germany's largest bank confirmed its ongoing litigation related to the acquisition of Post Bank is likely to impact its second quarter and full-year profits. 

The company said litigation costs could rise to as much as €1.3 billion and added that it strongly disagrees that the bank underpaid for Postbank. 

AstraZeneca increased 1.6% to 12,178.0 pence after the pharmaceutical company announced significant progress with two breast cancer drug treatments. 

Vivendi SE decreased 0.4% to €9.81 after the French media holding company said revenue in the first quarter rose, driven by increases in Canal+ Group and Havas and the integration of publishing group Lagardere. 

Atos SE soared 18.5% to €2.26 after the company confirmed that French government is looking to acquire key divisions of the company that are deemed strategically important to France. 

The non-binding offer of €1 billion from France covers three key divisions: advanced computing, missing-critical systems, and cyber security products. 

The finance ministry moved to prevent the company from falling into the hands of foreign private equity groups.