Europe Movers: adidas, Airbus, Danone, GSK, HSBC, Ricardo, Schneider Electric, Siemens Helathineers, TeamViewer

Inga Muller
31 Jul, 2024
Frankfurt

Positive earnings announcements lifted market sentiment in Europe, and benchmark indexes rebounded. 

Consumer price inflation in the eurozone accelerated after elevated service inflation contributed to overall inflation. 

The DAX index increased by 0.5% to 18,495.32; the CAC-40 index rose by 1.3% to 7,568.71; and the FTSE 100 index increased by 1.2% to 8,374.17.

The yield on 10-year German bonds edged lower to 2.32%, French bonds inched lower to 3.02%, the UK gilts inched lower to 4.01%, and Italian bonds decreased to 3.66%.

Siemens Healthineers declined 6.6% to €49.70, and the medical technology company reported lower-than-expected quarterly earnings and sales. 

HSBC Holdings increased 3.3% to 699.25 pence after the UK- and Hong Kong-based bank reported stable earnings and announced a $3 billion stock buyback plan. 

GSK plc declined 2% to 1,511.77 pence after the UK-based pharmaceutical company reported second-quarter net income attributable to shareholders declined to £1.17 billion from £1.62 billion a year ago. 

TeamViewer SE surged 12.1% to €12.36 after the remote connectivity solution provider reported better-than-expected second quarter results and reiterated its annual outlook. 

adidas AG increased 0.2% to €237.0 after the sportwear maker backed its second quarter preliminary results and reiterated its annual outlook. 

Schneider Electric SE increased 3.2% to €223.05, and the French energy management and automation company lifted its annual outlook and reported better-than-expected first-half results. 

Airbus jumped 4.2% to €139.14, and the aviation company reported better-than-expected first-half results. 

Danone SA jumped 3.6% to €60.96, and the French yogurt maker said revenue in the second quarter rose more than expected. 

Ricardo plc climbed 4.2% to 512.0 pence after the engineering and environmental consulting firm said the company's performance is in line with management expectations. 

Revenue in the year ending in June increased 7% from a year ago, and new order inflow declined 5% to £495 million. 

New orders compared to the previous year, because of the timing of new large orders in its automotive and industrial orders and new program wins in the prior year.