Market Updates
Europe Movers: Aurubis, Clarkson, Galderma, OCI, Senior, Woodside Energy
Inga Muller
05 Aug, 2024
Frankfurt
European markets continued their decline for the second day on Monday amid growing worries about the U.S. economy's strength.
Market sentiment deteriorated after the eurozone economy stalled in July, as weak domestic demand overshadowed relative strength in exports.
The DAX index decreased by 2.5% to 17,209.20; the CAC-40 index fell by 2.4% to 7,105.90; and the FTSE 100 index declined by 2.6% to 7,961.64.
European bond yields dropped to six-month lows as investors sought safety in government securities amid growing worries about the global economic slowdown and rising geopolitical tensions.
The yield on 10-year German bonds edged lower to 2.10%, French bonds inched lower to 2.92%, the UK gilts inched lower to 3.77%, and Italian bonds decreased to 3.62%.
Clarkson PLC plunged 10.4% to 3,875.0 pence after the UK-based shipping broker reported a decline in sales and earnings in the first half.
OCI NV increased 10.3% to €23.82 after Woodside Energy agreed to acquire the Netherlands-based chemical maker's clean ammonia plant in Texas for 2.35 billion.
Woodside Energy decreased 2.5% to 1,302.0 pence.
Senior plc plunged 7.7% to 145.4 pence, despite the UK-based engineering company reporting a 10% increase in its first-half profit.
Aurubis AG rose 9.2% to €62.50 after the non-ferrous metal producer and copper recycler reported third-quarter operating earnings below market expectations.
Galderma AG increased 4.6% to CHF 70.09 after L'Oreal said it acquired a 10% stake in the dermatology company for an undisclosed amount.
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