Market Updates

Europe Movers: BAT, Credit Agricole, Maersk, Vistry, Wizz Air

Inga Muller
04 Jun, 2024
Frankfurt

    European market indexes struggled to advance ahead of the monetary policy decisions on Thursday, and investors are widely anticipating the first rate cut since 2016. 

    The DAX index decreased by 1.2% to 18,389.41; the CAC-40 index fell by 0.9% to 7,925.94; and the FTSE 100 index declined by 0.5% to 8,223.02. 

    The yield on 10-year German bonds edged lower to 2.55%; French bonds inched lower to 3.04%; the UK gilts edged lower to 4.20%; and Italian bonds inched higher to 3.88%.

    A.P. Moeller Maersk decreased a fraction to DKK11,730, despite the company raising its annual profit outlook. 

    British American Tobacco declined 1.2% to 2,405.0 pence after the cigarette maker said its first-half revenue and adjusted operating profit, on an organic and constant currency basis, were "single-digit." 

    Wizz Air Holdings rose 0.4% to 2,428.0 pence after the deep discount air carrier said passenger booking jumped 2.1% and load factor improved slightly in May. 

    Credit Agricole declined 1.2% to €14.70 after the French lender said its unit, Indosuez Wealth Management, has finalized the purchase of Bank Degroof Petercam based in Luxembourg. 

    Vistry Group declined 1.3% to 1,291.0 pence after the home builder agreed to sell 1,750 homes to the private equity group Backstone and its partner Regis in a £580 million deal.

    The group of "affordable homes" are located across 36 developments in south-east England and meets demands from housing associations and families. 

    Vistry said most homes are expected to be delivered over the next two years, with the first batch of deliveries in June. 

     

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