Europe Movers: Aviva, CTS Eventim, Gerrsheimer, E.ON, Hargraves Lansdown, Merck, National Grid, Wizz Air

Inga Muller
23 May, 2024
Frankfurt

European market indexes rebounded from lackluster morning trading after Nvidia earnings soared and private sector activity in the eurozone gained momentum. 

The DAX index increased by 0.3% to 18,732.76; the CAC-40 index rose by 0.2% to 8,107.94; and the FTSE 100 index inched higher by 0.05% to 8,375.05. 

The yield on 10-year German bonds edged up to 2.54%; French bonds inched higher to 3.02%; the UK gilts edged higher to 4.21%; and Italian bonds inched lower to 3.82%.

Hargreaves Lansdown PLC soared 10.9% to 1,086.0 pence after the investment platform rejected a surprise takeover approach from a consortium of private equity buyers. 

Aviva plc decreased 0.8% to 492.30 pence, despite the UK-based insurance company reporting better-than-expected results in the first quarter. 

Wizz Air Holdings soared 6.9% to 2,099.77 pence after the low-cost carrier returned to profitability in fiscal year 2024. 

E.ON declined 1.7% to €12.40 after the electric utility company reported mixed quarterly results. 

Revenue in the first quarter decreased 20% to €27.2 billion, net income swung to a profit of €584 million from a loss of €143 million, and earnings per share were 22 cents from a loss of 55 cents a year ago. 

National Grid plunged 9.9% to 1,016.0 pence after the electricity and gas utility announced its plans to raise £7 billion, or $8.9 billion, through a secondary offering of 1.09 billion shares. 

United Utilities declined 3.7% to 1,034.50 pence, and Drax Group plunged 8.2% to 510.50 pence after utilities companies faced selling pressure. 

Gerresheimer AG soared 11.8% to €104.20 after Germany packaging products maker agreed to acquire Blitz LuxCo sarl, the holding company of the Bormioli Pharma Group, for €800 million, or $865.92 million. 

CTS Eventim AG jumped 10% to €88.80 after the event ticketing platform operator reported better-than-expected operating income in the first quarter. 

Merck KGaA gained 0.7% to €169.65 after the German pharmaceutical company agreed to acquire life science company Mirus Bio for $600 million. 

Gamma Biosciences, the parent company of Mirus, is based in Madison, Wisconsin, and specializes in the development of transfection reagents, which play a critical role in viral vector-based gene therapy.