Market Updates
Europe Movers: Brenntag, Dowlais Group, Evotec, HelloFresh, Just Group, Valneva
Inga Muller
13 Aug, 2024
Frankfurt
European markets struggled to advance amid rate path uncertainties and weakening investor sentiment.
The DAX index decreased by 0.2% to 17,689.34; the CAC-40 index fell by 0.3% to 7,233.12; and the FTSE 100 index decreased by 0.1% to 8,197.14.
The yield on 10-year German bonds edged lower to 2.20%, French bonds inched down to 2.95%, the UK gilts edged lower to 3.90%, and Italian bonds inched up to 3.61%.
Just Group soared 17% to 137.20 pence after the retirement income and services provider reported better-than-expected first-half results and lifted its 2024 estimates.
Dowlais Group decreased 8% to 53.85 pence after the UK-based automotive parts maker reported a wider loss in the first half and the company lowered its annual revenue outlook.
Valneva SE increased 5.2% to €3.23, and the French biotech company's net income in the first half swung to profit and confirmed its annual revenue outlook.
Brenntag SE declined 1% to €63.22, and the German chemical distributor lowered its full-year estimate.
Evotec SE gained 3.4% to €5.58, and the German drug maker achieved a significant milestone in its partnership with Bristol Myers Squibb, triggering a performance-based payment of $75 million.
HelloFresh SE jumped 10.9% to €5.99 after the meal-kit provider reported better-than-expected results in the second quarter.
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