Europe Movers: BMW, Deutsche Telekom, GSK, SCOR, Suedzucker

Inga Muller
10 Oct, 2024
Frankfurt

Germany's nominal and real retail sales growth accelerated in August, driven by an increase in food and nonfood sales. 

Norway's consumer price inflation accelerated in September to 3.2%, the highest pace since May. 

The DAX index increased by 0.01% to 19,255.54; the CAC-40 index fell by 0.2% to 7,545.81; and the FTSE 100 index declined by 0.3% to 8,219.22. 

The yield on 10-year German bonds edged higher to 2.27%, French bonds inched higher to 3.04%, the UK gilts edged up to 4.24%, and Italian bonds increased to 3.57%.

GSK plc increased 4.5% to 1,525.0 pence after the British drug maker agreed to settle 80,000 lawsuits in state courts in the U.S. related to Zantac. 

SCOR SE increased 3.2% to €20.60, and the French reinsurance company initiated a discussion to sell its stake in the ninth largest educational publishing company. 

SCOR entered into exclusive negotiations with Huyghens de Participations, the holding company of the Albin Michel group, for the sale of its stake in the capital of Humensis. 

Deutsche Telekom increased 1.5% to €27.16 after the German telephone company said it plans a stock buyback program in 2025. 

BMW decreased 0.2% to €76.60 after the German luxury automobile company reported sales in the third quarter declined, weighed down by the weakness in China. 

Unit sales across all models declined 13% from a year ago in the quarter, driven by a 30% plunge in China. 

Sales across battery-operated and hybrid vehicles stalled at 0.1% after rising at 40% in the corresponding period in 2023. 

Suedzucker AG declined 0.5% to €11.12 after the German company reported a decline in operating results in the second quarter amid high costs and low prices.