Market Updates
Europe Movers: Airbus, French Banks, Pennon Group, Tristel
Inga Muller
10 Jun, 2024
Frankfurt
European markets dropped sharply amid fresh political uncertainties in the region after the rise of far-right parties in the European Union election on Sunday.
The DAX index decreased by 0.8% to 18,406.18; the CAC-40 index fell by 2.0% to 7,841.65; and the FTSE 100 index declined by 0.4% to 8,216.71.
The yield on 10-year German bonds edged higher to 2.65%. French bonds inched higher to 3.20%; the UK gilts edged higher to 4.31%; and Italian bonds inched lower to 4.03%.
French banks declined following the broad market fall following the surprise legislative snap election announcement by French President Emmanuel Macron.
Credit Agricole declined 4.4% to €14.0, BNP Paribas dropped 4.8% to €63.21, and Societe Generale fell 7.3% to €24.12.
Airbus SE decreased 1.1% to €148.34 after the defense company and plane maker's satellite unit received an order to launch satellites from an entity controlled by the U.A.E.
Pennon Group plc declined 1.2% to 589.50 pence after the British water company announced the appointment of David Sproul as chairman, replacing Gill Rider, after the company's annual general meeting on July 24.
Tristel plc rose 2% to 438.50 pence, and the maker of infection prevention products appointed Matthew Sassone as chief executive officer effective September 2.
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