Europe Movers: Aviva, Balfour Beatty, Flutter Entertainment, Straumann Holding, TUI, ThyssenKrupp, UBS

Inga Muller
14 Aug, 2024
Frankfurt

The Eurozone's GDP in the second quarter accelerated from the previous quarter, and industrial output declined from a year ago in June. Consumer price inflation in the UK edged up in July. 

The DAX index increased by 0.4% to 17,879.06; the CAC-40 index rose by 0.3% to 7,299.45; and the FTSE 100 index advanced by 0.2% to 8,253.56. 

The yield on 10-year German bonds edged lower to 219%, French bonds inched down to 2.93%, the UK gilts edged lower to 3.85%, and Italian bonds inched up to 3.58%.

UBS Group AG jumped 3.5% to CHF 26.0, and the Swiss bank reported that second-quarter profit jumped to $1.1 billion. 

Straumann Holding soared 12.8% to CHF 125.20 after the dental implant maker lifted its 2024 guidance. 

Revenue in the first half increased 16.1% to 1.3 billion. 

The company also announced the sale of its DrSmile aligner business to Barcelona-based Impress Group in exchange for a 20% stake in the dental clinic network operator in Spain, the UK, Italy, and Portugal. 

Aviva plc increased 0.2% to 489.70 pence after the insurance company reported a better-than-expected 14% increase in operating profit in the first half. 

Balfour Beatty decreased 2.3% to 398.82 pence, despite the construction service provider reporting an increase in earnings for the first half. 

Flutter Entertainment jumped 8.7% to 15,930.0 pence, and the world's largest online betting firm reported better-than-expected second quarter results and lifted its annual outlook. 

TUI AG increased 2.6% to €5.69, and the tour operator reported better-than-expected profit in the fiscal third quarter. 

ThyssenKrupp declined 4% to €3.16 after the steelmaker lowered its annual profit estimate for the third time this year. 

Revenue in the third quarter decreased to €9.0 billion from €9.6 billion, adjusted EBIT fell to €149 million from €243 million, and new orders slowed to €8.4 billion from €9.4 billion a year ago, respectively. 

The steel company revised its annual sales to decline between 6% and 8% and adjusted EBIT to be around 500 million from the previous estimate of an "increase in the high three-digit million euros range."