Europe Movers: Halfords, Intercontinental Hotels, Logitech, Mulberry Group, Saab Group, SAP, Tele2

Inga Muller
22 Oct, 2024
Frankfurt

European stock market indexes struggled to advance for the second day in a row, and investors reacted to the fresh batch of earnings. 

Passenger car registrations declined for the second month in a row in September. 

The DAX index decreased by 0.4% to 19,378.65; the CAC-40 index fell by 0.8% to 7,473.65; and the FTSE 100 index decreased by 0.7% to 8,257.15. 

The yield on 10-year German bonds edged higher to 2.33%, French bonds inched higher to 3.06%, the UK gilts edged up to 4.17%, and Italian bonds increased to 3.55%.

SAP SE increased 4% to €219.35 after the German resource planning software company lifted its full-year sales estimate, backed by strong demand for its cloud services in the third quarter. 

Logitech International SA decreased 4.5% to CHF 73.0 despite the Swiss computer accessory maker raising its full-year outlook. 

Tele2 AB decreased 3.2% to SEK 107.85 after the Swedish telecom company reported net sales in line with market expectations in the third quarter. 

Saab AB jumped 6.5% to SEK 234.25 after the Swedish aerospace and defense company reported a strong increase in new orders and earnings in the third quarter. 

Mulberry Group PLC declined 0.8% to 126.50 pence after the fashion group rejected a second hostile offer from Fraser Group. 

Intercontinental Hotels Group increased 0.7% to 8,628.0 pence after the company said its revenue per available room increased 1.5% in the third quarter. 

Halfords Group plc advanced 7.5% to 152.40 pence after the retailer of vehicle parts and service center operator reported stable first-half sales and the company reiterated its full-year outlook.