Market Updates
Europe Movers: British Land Company, Hannover Re, Land Securities, Luxury Stocks, Munich Re
Inga Muller
12 Aug, 2024
Frankfurt
European market indexes struggled to advance after a week of wild gyrations in global markets.
Hannover Re and Munch Re reported better-than-expected financial results.
The DAX index increased by 0.2% to 17,766.44; the CAC-40 index rose by 0.03% to 7,272.09; and the FTSE 100 index advanced by 0.6% to 8,214.71.
The yield on 10-year German bonds edged higher to 2.24%, French bonds inched higher to 2.99%, the UK gilts inched higher to 3.96%, and Italian bonds inched up to 3.66%.
Hanover Re rose 4.7% to €226.30, and the reinsurance company reported higher sales and earnings and confirmed its annual outlook.
Munich Re gained 1.2% to €440.0, and the German reinsurance company reported better-than-expected second quarter sales and earnings.
Revenue increased 12% to €15.4 billion, and net income soared 41% to €1.62 billion, driven by a higher profit margin of 11% compared to 8.4% a year ago.
China-linked luxury stocks traded down amid ongoing economic slowdown worries and a protracted property market slump.
Kering SA dropped 1.4% to €250.90, LVMH decreased 0.01% to €636.10, and Remy Cointreau fell 1% to €70.45.
Land Securities Group decreased 0.3% to 618.50 pence, and British Land Company declined 0.6% to 395.0 pence.
Annual Returns
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|