Europe Movers: BMW, Credit Agricole, Marks & Spencer, Puma, Siemens Healthineers, TeamViewer

Inga Muller
06 Nov, 2024
Frankfurt

The return of Donald Trump to the White House may prove to be mixed blessings for the European Union, as his administration will demand more payment for the support of NATO, erect trade barriers for goods from the region, and push to end the war in Ukraine.

The DAX index increased by 0.9% to 19,430.32; the CAC-40 index rose by 1.4% to 7,512.89; and the FTSE 100 index rose by 1.2% to 8,270.27. 

The yield on 10-year German bonds edged lower to 2.36%, French bonds inched lower to 3.11%, the UK gilts edged higher to 4.51%, and Italian bonds decreased to 3.62%.

Credit Agricole SA declined 5.7% to €13.49 after the French bank reported mixed quarterly results as record revenue in its investment banking unit overshadowed weakness in its retail business. 

Puma SE dropped 5.7% to €40.0 after the German footwear company reported lower-than-expected sales in the third quarter. 

BMW AG declined 6.8% to €67.66, and the German luxury automaker reported third quarter net income plunged 61%. 

Siemens Healthineers rose 6.6% to €51.58 after the German media technology company reported financial results that matched investor expectations. 

Marks & Spencer Group increased 4.4% to 400.70 pence after the UK-based retailer reported higher-than-expected profit in the first half. 

TeamViewer SE dropped 14% to €11.55 after the software company trimmed its revenue outlook.

Revenue in the third quarter increased 7% to €168.7 million from €158.1 million operating earnings increased 44% to €65 million from €45.3 million, and earnings per share rose to 25 cents from 16 cents a year ago. 

The company narrowed the 2024 revenue range to between €662 million and €668 million, and adjusted EBITDA margin of at least 44% compared to the previous estimate of 43%.