Europe Movers: Abrdn, Adecco Group, Domino's Pizza, Monte dei Paschi di Siena, SIG Gorup

Inga Muller
06 Aug, 2024
Frankfurt

European markets hovered near the flatline and traded near six-month lows amid a mix of rising tensions in the Middle East, less-than-inspiring corporate earnings growth, and U.S. economic slowdown worries.   

The DAX index increased by 0.1% to 17,362.15; the CAC-40 index fell by 0.2% to 7,134.50; and the FTSE 100 index declined by 0.4% to 7,976.06. 

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 higher to 2.17%, French bonds inched higher to 2.95%, the UK gilts inched higher to 3.90%, and Italian bonds increased to 3.66%.

Abrdn jumped 2.2% to 165.76 pence after the UK-based asset management company reported better-than-expected first-half results. 

Adecco Group increased 1.1% to CHF 28.12 after the Swiss staffing company's second-quarter results surpassed market expectations. 

Monte dei Paschi di Siena soared 7.3% to €4.66 after the Italian bank raised its profit outlook.

SIG Group AG decreased 1.4% to CHF 17.09 after the Swiss construction material company reported a loss in the first half. 

Domino's Pizza decreased 6.5% to 288.80 pence after the pizza delivery company estimated its annual profit to hover near the lower end of market expectations. 

Systemwide sales in the first half increased 0.2% to £767.7 million from £766.4 million, total orders decreased 0.9% to 35.1 million from 35.4 million, and group revenue decreased 1.8% to £326.8 million from £332.9 million a year ago. 

Statutory profit declined 35.2% to £59.4 million from £91.5 million, and basic earnings per share dropped 44% to 10.70 pence from 19.3 pence a year ago. 

The pizza delivery  company increased its interim dividend per share by 6% to 3.5 pence from 3.3 pence a year ago.