Market Updates
Europe Movers: Anglo American, Delivery Hero, Flutter Entertainment, Rheinmetall, Veolia, Vodafone Group
Inga Muller
14 May, 2024
Frankfurt
European markets traded around the flatline, bond yield edged higher, and the euro inched up in Tuesday's trading.
The DAX index decreased by 0.2% to 18,711.13; the CAC-40 index fell by 0.1% to 8,204.76; and the FTSE 100 index inched higher by 0.03% to 8,417.63.
The yield on 10-year German bonds edged up to 2.51%; French bonds inched higher to 3.02%; the UK gilts edged higher to 4.16%; and Italian bonds inched higher to 3.87%.
Anglo American declined 2% to 2,650.50 pence after the mining company announced its plans to sell several units as part of a turnaround effort.
Vodafone Group increased 3.4% to 72.42 pence after the international wireless telecom carrier said organic earnings in 2024 rose 2.2%.
Flutter Entertainment declined 2.4% to 15,800 pence after the sports betting and gambling company reported a wider quarterly net loss.
Hannover Re fell 3.4% to €227.20 despite the reinsurance company announcing strong first quarter results and confirming its 2024 outlook.
Delivery Hero SE soared 22% to €30.93 after Uber Technologies agreed to acquire the company's Foodpanda delivery business in Taiwan for $950 million in cash.
Rheinmetall AG decreased 3.2% to €519.20 after the German arms manufacturer missed its sales and earnings estimate in the first quarter.
Veolia Environnement SA gained 3.1% after the French waste and water management company met first quarter core profit expectations.
The company also announced winning a $320 million contract for a desalination plant in the United Arab Emirates.
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