Market Updates
Europe Movers: Aker Solutions, Ashmore, Ericsson, Lifco
Inga Muller
12 Jul, 2024
Frankfurt
European markets rebounded, the euro held firm, and bond yields edged lower after a week of political turmoil in France.
Germany's wholesale prices declined for the 14th month in a row.
The DAX index increased by 0.4% to 18,604.44; the CAC-40 index rose by 0.7% to 7,683.84; and the FTSE 100 index rose by 0.2% to 8,242.84.
The yield on 10-year German bonds edged lower to 2.51%. French bonds inched lower to 3.17%; the UK gilts inched lower to 4.14%; and Italian bonds decreased to 3.81%.
L M Ericsson Class B increased 2.4% to SEK 69.60, and the telecom equipment maker reported operating earnings in the second quarter exceeded market expectations.
Aker Solutions ASA jumped 16.1% to €4.18, and the Norwegian maker of products for renewable energy projects reported better-than-expected second-quarter earnings.
Ashmore Group decreased 1.4% to 177.59 pence after the company said the asset under management declined by $2.4 billion over the quarter ending in June.
Lifco AB increased 8.2% to SEK 321.80 after the diversified business company reported better-than-expected second quarter results.
Revenue increased 4.6% to SEK 12.7 billion, net income fell 2.9% to SEK 1.6 billion, and earnings per share eased to SEK 2.50 from SEK 2.60 a year earlier.
Revenue in the second quarter ending in June increased 8.4% to SEK 6.7 billion, and net income rose 5% to SEK 914 million.
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