Market Updates

Europe Movers: Airbus, Berkely Group, Camellia, Elis, Rolls Royce

Inga Muller
06 Sep, 2024
Hong Kong

    European markets struggled to advance for the fifth session in a row amid rate path worries and economic growth anxieties. 

    The Euro Area second quarter GDP growth was revised slightly lower, and Germany's trade surplus dropped to a four-month low. 

    The DAX index decreased by 0.5% to 18,485.08; the CAC-40 index fell by 0.2% to 7,413.79; and the FTSE 100 index declined by 0.3% to 8,214.31. 

    The yield on 10-year German bonds edged lower to 2.16%, French bonds inched down to 2.85%, the UK gilts edged down to 3.87%, and Italian bonds decreased to 3.51%.

    Airbus declined 1.2% to €130.14 after Europe's air safety regulator ordered a precautionary check on some engines of its A350-100 planes following an engine fire on a Cathay Pacific flight from Hong Kong to Zurich on Monday. 

    Cathay Pacific grounded all long-haul Airbus 350-1041 planes for safety checks after a fire was detected shortly after the takeoff from Hong Kong. 

    Rolls Royce, which makes engines for the Airbus 350 planes, said it has launched its own investigation as well. 

    Rolls Royce declined 0.9% to 473.80 pence.

    Elis SA declined 15.4% to €19.56 after Reuters reported that the company has approached Vestis, a former uniform rental business owned by Aramark. 

    Berkeley Group Holdings PLC declined 1.6% to 4,908.0 pence, and the UK-based house builder said revenue in the first four months of the fiscal year has been "stable" and reiterated its annual outlook. 

    Camellia PLC dropped 5.6% to 4,199.40 pence, and the agriculture company reported a loss of £11 million in the first half. 

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