Market Updates
Europe Movers: Credit Agricole, Daimler Truck, Future. Krones, Henkel, Societe Generale, Trainline
Inga Muller
03 May, 2024
Frankfurt
European markets edged higher in Friday's trading and trimmed weekly losses in the hopes of multiple rate cuts in 2024.
The DAX index increased by 0.5% to 17,988.51; the CAC-40 index rose by 0.6% to 7,965.24; and the FTSE 100 index inched higher by 0.5% to a new intraday record of 8,214.37.
The yield on 10-year German bonds edged down to 2.53%; French bonds inched lower to 3.03%; the UK gilts edged lower to 4.28%; and Italian bonds inched higher to 3.85%.
Henkel AG increased 6.6% to €78.78 after the German household products maker lifted its sales and earnings outlook for 2024.
Daimler Truck Holding decreased 4.9% to €40.49 after the German truck maker reported a decline in global sales in the first quarter.
Krones AG declined 1.6% to €122.60 despite the German packaging and bottling equipment maker reporting an increase in first-quarter profit and confirming its full-year 2024 outlook.
Societe Generale declined 3.8% to €24.80 after the French bank reported a smaller-than-expected 22% decline in earnings and reiterated its 2024 outlook.
Credit Agricole rose 3.3% to €15.10 after the French bank reported a 55% surge in first-quarter earnings, beating market expectations by a wide margin.
Future plc increased 1.5% to 708.74 pence, and the UK-based publishing company appointed Sharjeel Suleman as the company's chief financial officer.
Trainline jumped 6.6% to 320.97 pence after an online train and bus ticketing platform operator reported an increase in earnings and announced its plans to expand its stock buyback activities over the next year.
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