Market Updates
Europe Movers: Commerzbank, Mining Stocks, Unilever, Worldline
Inga Muller
13 Sep, 2024
Frankfurt
Benchmark indexes in France, Germany, and the UK extended weekly gains to 1% a day after the ECB lowered its key lending rates.
France's consumer price inflation was revised lower in August, and the Euro Area industrial output extended weakness to the eighteenth month.
The DAX index increased by 0.5% to 18,617.54; the CAC-40 index rose by 0.3% to 7,457.28; and the FTSE 100 index rose by 0.2% to 8,257.62.
The yield on 10-year German bonds edged higher to 2.13%, French bonds inched lower to 2.83%, the UK gilts edged down to 3.77%, and Italian bonds decreased to 3.51%.
Worldline SA plummeted 19.2% to €6.79, and the payment service provider lowered its revenue and core earnings outlook.
The company also announced the departure of its chief executive, Giles Grapinet.
Mining companies traded higher after copper prices surged in the hopes of higher demand ahead of the National Day Holiday, also known as Golden Week, starting October 1.
Antofagasta declined 0.1% to 1,725.0 pence, Anglo American decreased 0.3% to 2,056.50 pence, and Glencore jumped 0.6% to 374.75 pence.
Unilever plc increased 0.7% to 4,960.0 pence after the consumer products maker launched the second and final phase of its Є1.5 billion stock buyback.
Commerzbank AG advanced 3.2% to €15.47 after the head of the Bundesbank, Joachim Nagel, said that the central bank will closely look at Italy-based UniCredit's plan to acquire the German bank.
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