Market Updates
Europe Movers: Ashtead, Carrefour, Frasers Group, Novonesis, Schneider Electric, Whitbread
Inga Muller
18 Jun, 2024
Frankfurt
European markets attempted to rebound for the second day in a row after a week of sharp declines following the European Union election results that threw France and Belgium into political turmoil.
The DAX index increased by 0.5% to 18,151.29; the CAC-40 index rose by 0.6% to 7,619.24; and the FTSE 100 index advanced by 0.1% to 8,176.52.
The yield on 10-year German bonds edged higher to 2.42%. French bonds inched higher to 3.15%; the UK gilts edged higher to 4.10%; and Italian bonds decreased to 3.90%.
Ashtead Group declined 5% to 5,234.0 pence after the equipment rental company estimated slower revenue growth in the fiscal year 2025.
Whitbread Group advanced 2.5% to 2,974.0 pence after the UK-based hotel group reiterated its annual outlook despite reporting weak first quarter results.
Frasers Group increased 0.3% to 858.0 pence after the retail chain group launched a new stock buyback plan worth as much as £80 million.
Carrefour SA declined 8.3% to €13.32 on a report that the French finance ministry is looking to impose a "record fine" on the hypermarket chain operator.
Schneider Electric rose 1.1% to €225.65, and the French electric equipment and automation system maker was upgraded by Jeffries to "buy" from "hold."
Novonesis increased 6.8% to DKK 428.80 after the Danish biotech company lifted its full-year outlook, citing rising demand for its biosolutions.
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