Market Updates
Europe Movers: Britvic, Carlsberg, Delivery Hero, French Banks, HgCapital, Marston's
Inga Muller
08 Jul, 2024
Frankfurt
France is facing political gridlock after Sunday's snap election resulted in the first ever hung parliament, as neither party won a clear majority.
Immigration, taxes, and pensions are likely to dominate the political agenda over the next three years.
The DAX index increased by 0.4% to 18,540.62; the CAC-40 index rose by 0.2% to 7,692.54; and the FTSE 100 index rose by 0.2% to 8,219.48.
The yield on 10-year German bonds edged lower to 2.54%. French bonds inched lower to 3.15%; the UK gilts inched lower to 4.13%; and Italian bonds decreased to 3.92%.
The French banks rallied after the far-right National Rally Party failed to win a majority in the second round of the snap election on Sunday.
Credit Agricole, Societe Generale, and BNP Paribas advanced between 1% and 2%.
Britvic Plc increased 4.6% to 1,265.0 pence after the Danish brewer agreed to acquire the British soft drink maker for £3.3 billion.
Carlsberg jumped 4.4% to DKK 873.20.
Marston's PLC jumped 15% to 35.29 pence after the pub and hotel group agreed to sell its 40% stake in the brewing joint venture with Carlsberg.
HgCapital Trust increased by 0.1% to 485.62 pence after the private equity company sold its remaining stake in the business software company TeamSystem.
Delivery Hero decreased 5.2% to €19.93 after the German food delivery company said it may face a fine of more than €400 million from the European Union for violating antitrust rules.
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