Market Updates

Europe Movers: Delivery Hero, Deutsche Beteiligungs, JD Sports, Nokia, Puma

Inga Muller
28 Jun, 2024
Frankfurt

    European markets lost ground in June after the European Union elections set the stage for a shift in power balance in several member nations, rattling financial markets and the future outlook for the euro.   

    The DAX index increased by 0.4% to 18,284.50; the CAC-40 index declined by 0.5% to 7,490.44; and the FTSE 100 index rose by 0.3% to 8,205.38. 

    The yield on 10-year German bonds edged higher to 2.46%; French bonds inched higher to 3.25%; the UK gilts edged lower to 4.15%; and Italian bonds increased to 4.08%.

    Nokia increased 0.2% to €3.51 after the telecom equipment maker agreed to acquire Infinera for $2.3 billion to bolster its optical networking business. 

    Delivery Hero declined 2.2% to €22.25 after the food-delivery company appointed Marie-Anne Popp as the interim chief financial officer after current CFO Emmanuel Thomassin resigned. 

    Deutsche Beteiligungs AG decreased 7.5% to €25.05 after the German private equity fund manager said it plans to raise €100 million through the sale of convertible bonds maturing in 2030. 

    JD Sports Fashion declined 5.2% to 119.75 pence, and Puma SE fell 4.2% to €42.12 after Nike said annual sales are likely to decline in the current year. 

     

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