Europe Movers: Adidas, Allianz, Antofagasta, ASML, BE Semiconductor, Demant, Smiths Group

Inga Muller
17 Jul, 2024
Frankfurt

European markets extended losses to the third session in a row ahead of the European Central Bank's policy decisions later in the week.   

The DAX index decreased by 0.3% to 18,466.93; the CAC-40 index fell by 0.2% to 7,563.30; and the FTSE 100 index rose by 0.03% to 8,167.91. 

The yield on 10-year German bonds edged lower to 2.42%. French bonds inched lower to 3.09%; the UK gilts inched lower to 4.07%; and Italian bonds decreased to 3.70%.

Antofagasta plc decreased 4% to 2,043.0 pence after the Chilean copper miner said annual production is to be near the bottom of the end of the company's guidance. 

Copper production increased 20% from a year ago in the second quarter to 155,300 tons, primarily driven by Los Pelambres mine following the extended concentrate pipeline maintenance and cleaning activities that was required in February. This increase was, however, offset by lower grades and recoveries at Centinela’s concentrator related to elevated levels of clay and fines in ores processed. 

Reckitt Benckiser Group increased by 0.2% 4,279.0 pence, and the company said its U.S. sales would be negatively impacted after a tornado struck a warehouse in Mount Vernon, Indiana. 

Demant AS dropped 112.5% to DKK 260.40 after the Danish hearing aid company issued a profit warning. 

Smiths Group decreased 0.8% to 1,739.0 pence, and the engineering company plans to sell 1.2 million shares in ICU Medical. 

ASML Holding decreased 7.7% to €901.60, and BE Semiconductor declined 2.9% to €162.65 on the worry of additional curbs on exports to China. 

Allianz SE rose 0.4% to €262.50, and the German insurance company said it acquired a majority stake in Singapore-based Income Insurance for $1.6 billion. 

Adidas AG rose 3.6% to €236.20, and the sportswear maker raised its annual outlook. 

The company said revenue in the second quarter increased 11% from a year ago.