Market Updates
Europe Movers: Alcon, Barratt Developments, Costain Group, Mining Stocks
Inga Muller
21 Aug, 2024
Frankfurt
European markets traded higher, the euro strengthened to an eight-month high, and bond yields dipped to the levels last seen in January.
The DAX index increased by 0.5% to 18,443.66; the CAC-40 index rose by 0.4% to 7,518.40; and the FTSE 100 index advanced by 0.2% to 8,287.88.
The yield on 10-year German bonds edged lower to 2.22%, French bonds inched down to 2.94%, the UK gilts edged higher to 3.92%, and Italian bonds inched up to 3.59%.
Mining companies in London advanced after aluminum futures in Shanghai rose to a five-week high amid tight supplies.
Glencore increased 1.1% to 414.51 pence, Anglo American jumped 2% to 2,291.0 pence, and Antofagasta added 1.5% to 1,908.0 pence.
Barratt Developments decreased 0.5% to 546.40 pence after the UK's Competition and Markets Authority signaled its willingness to accept measures proposed by the company and Redrow to alleviate local competition concerns.
Costain Group PLC jumped 5.1% to 99.40 pence, and the UK-based construction and engineering company announced strong first-half results and a stock repurchase plan of £10 million.
Alcon AG decreased 1.8% to CHF 81.18 after the Swiss pharmaceutical and medical device company for eyecare reported weaker-than-expected second quarter results.
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