Market Updates
Europe Movers: Energy Stocks, GEA Group, JD Sports, TotalEnergies, Wizz Air
Inga Muller
02 Oct, 2024
Frankfurt
European market indexes wavered amid rising fears of a wider war in the Middle East, which could potentially disrupt international trade in crude oil and manufactured goods.
The jobless rate in the Euro Area held steady at a record low in August.
The DAX index decreased by 0.4% to 19,140.96; the CAC-40 index rose by 0.1% to 7,580.34; and the FTSE 100 index rose by 0.2% to 8,292.31.
The yield on 10-year German bonds edged higher to 2.08%, French bonds inched higher to 2.86%, the UK gilts edged up to 4.02%, and Italian bonds increased to 3.42%.
Energy stocks advanced in London following the rise in crude oil prices for the second week in a row amid rising tensions in the Middle East.
Separately, American Petroleum Institute data showed that the U.S. crude oil inventories declined by 1.5 million barrels last week, the second weekly decline in a row.
BP plc increased 2.4% to 410.60 pence, Shell PLC jumped 2.3% to 2,536.50 pence, and TotalEnergies SE advanced 2.7% to €60.91.
TotalEnergies announced an investment of $10.5 billion in the GranMorgu offshore oil exploration block in the Republic of Suriname.
GEA Group AG increased 2.4% to €45.08, and the German technology and system provider for the food processing industry said it achieved its mid-term financial goals two years ahead of schedule.
Wizz Air Holdings dropped 6% to 1,285.0 pence in London trading after discount airline operator said load factor in September dropped.
JD Sports Fashion PLC dropped 5.3% to 141.70 pence despite the retailer reporting record sales in 26 weeks to August and reiterating its annual outlook.
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