Europe Movers: Auto Trader, Banco BPM, Bayer, BHP, Vinci

Inga Muller
30 May, 2024
Frankfurt

European markets rebounded and bond market selloffs paused after two days of volatile trading, and investors looked ahead to the release of inflation updates in the eurozone and the U.S. 

The DAX index increased by 0.01% to 18,475.13; the CAC-40 index rose by 0.3% to 7,954.08; and the FTSE 100 index advanced by 0.2% to 8,01.34. 

The yield on 10-year German bonds edged down to 2.57%; French bonds inched higher to 3.15%; the UK gilts edged lower to 4.40%; and Italian bonds inched higher to 3.98%.

Telecom Italia SpA declined 5.7% to €0.23 despite the telecommunications company reporting an increase in revenue in the first quarter and reiterating its full-year outlook. 

Banco BPM SpA soared 2.8% to €6.61 after the company's chief executive officer, Giuseppe Castagna, said that there are no conditions for the merger with the rival Monte dei Paschi. 

Bayer AG increased 2.8% to €27.70 after the German pharmaceutical and life science company said its clinical-stage cell therapy to treat Parkinson's disease has received the U.S. FDA's Regenerative Medicine Advanced Therapy designation. 

BHP Group declined 0.9% to 2,333.0 pence after the company withdrew its £39 billion takeover offer for Anglo American. 

Anglo American edged up 0.1% to 2,481.0 pence. 

Auto Trader increased 12.1% to 819.20 pence after the UK-based online marketplace reported better-than-expected full-year results.

The company announced a dividend of 6.40 pence to shareholders on record on August 29 and payable on September 27. 

Vinci SA advanced 0.8% to €114.05 after the French construction company announced the receipt of a $159 million project from the Melbourne Airport in Australia.