Europe Movers: Atos, FirstGroup, Rio Tinto, Senior, Societe General

Inga Muller
11 Jun, 2024
Frankfurt

European market indexes declined for the second day in a row amid political turmoil in France and growing uncertainty in Germany. 

The DAX index decreased by 0.7% to 18,363.76; the CAC-40 index fell by 0.9% to 7,826.87; and the FTSE 100 index declined by 0.8% to 8,164.06. 

The yield on 10-year German bonds edged higher to 2.66%. French bonds inched higher to 3.30%; the UK gilts edged lower to 4.29%; and Italian bonds inched higher to 4.13%.

Rio Tinto declined 2.5% to 5,223.0 pence after the Anglo-Australian mining company agreed to acquire Mitsubishi Corp.'s 11.65% stake in Boyne Smelters for an undisclosed amount. 

Societe Generale declined 2.9% to €23.39 on reports that the French lender is struggling to sell its securities services unit. 

Senior plc gained 1.1% to 160.0 pence after the maker of high-tech components for aerospace and defense equipment received several orders from Collins Aerospace. 

FirstGroup rose 1.1% to 169.90 pence after the private railroad and bus service operator reported a decline in annual revenue. 

Revenue in the fiscal year 2024 ending in March declined to £4.71 billion from £4.76 billion, adjusted operating profit rose to £202.4 million from £154.0 million, and adjusted earnings per share rose to 16.4 pence from 10.7 pence a year ago. 

The increase in adjusted operating profit was driven by one extra week of trading and higher accrued variable fees in Frist Rail. 

The company reiterated its fiscal year 2025 outlook and confirmed its plans to complete the share buyback before financing any new growth initiatives. 

Atos SE decreased 11.4% to €1.01 after the French information technology company selected a financial restructuring proposal led by Onepoint, Butler Industries, and Econocom.