Market Updates
Europe Movers: Ashtead Group, Partners Group, Swiss Life, Watches of Switzerland, Wizz Air
Inga Muller
03 Sep, 2024
Frankfurt
European markets lacked direction for the second day in a row after surging in the previous three weeks.
Spain's registered unemployed count in August was the lowest in the month since 2008. Switzerland's GDP in the second quarter increased 1.8% from a year ago.
The DAX index decreased by 0.3% to 18,870.15; the CAC-40 index fell by 0.2% to 7,631.47; and the FTSE 100 index declined by 0.5% to 7,631.47.
The yield on 10-year German bonds edged higher to 2.32%, French bonds inched up to 3.04%, the UK gilts edged up to 4.03%, and Italian bonds increased to 3.71%.
The euro edged down to $1.10; the British pound inched higher to $1.31; and the U.S. dollar strengthened to 85.15 Swiss cents.
Swiss Life Holding declined 0.2% to CHF 686.80 and reversed the earlier gain in the day, and the company reported better-than-expected results in the first half, driven by strong performance in its asset management and insurance operations.
Partners Group dropped 8.2% to CHF 1,123.0, and the Swiss private equity form reported weaker-than-expected quarterly results.
Wizz Air Holdings declined 0.5% to GBX 1,279.0, and the Hungarian discount airline said passenger count and load factor increased from a year ago in August.
Watches of Switzerland PLC jumped 4.2% to 395.0 pence after the UK-based luxury watches and jewelry retailer reiterated its fiscal year outlook.
Ashtead Group increased 2.6% to 5,498.68 pence after the equipment rental company reiterated its annual profit estimate.
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