Europe Movers: ASML, Aviva, Alstom, Banca BPM, Burberry, Deutsche Telekom, Monte dei Paschi , Premier Foods, Siemens, Thales

Inga Muller
14 Nov, 2024
Frankfurt

European markets rebounded after corporate and earnings news supported positive market sentiment. 

The eurozone's third quarter GDP growth accelerated to 0.4% sequentially after rising 0.2% in the second quarter, matching the flash estimate, according to a report released by Eurostat on Thursday. 

France's jobless rate in the third quarter edged up to 7.4% from 7.3% in the second quarter, according to the data released by the French statistical agency, or INSEE. 

The DAX index increased by 1.1% to 19,217.99; the CAC-40 index rose by 1.0% to 7,285.61; and the FTSE 100 index rose by 0.4% to 8,060.07. 

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 4.52%, and Italian bonds decreased to 3.59%.

The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 89.04 Swiss cents.

Brent crude decreased $0.92 to $74.60 a barrel, and the Dutch TTF natural gas rose by €1.12 to €39.40 per MWh. 

 

Europe Stock Movers

ASML Holding NV soared 5% to €660.0 after the advanced chip equipment maker lifted its sales outlook over the next five years despite sales in the current financial year. 

CEO Christophe Fouquet that the company's technology is capable of scaling over the next five years to "leverage the artificial intelligence opportunity."

The company guided revenue between 44 billion and 60 billion and gross margin between 56% and 60% by 2030.

The current forecast implies that sales are likely to rise annually between 8% and 14% over the next five years. 

Aviva plc gained 4.5% to 476.61 pence after the UK-based insurance company reported meaningful gains in its key business units in the third quarter. 

Burberry Group jumped 18.5% to 867.20 pence after the company's recently appointed chief executive, Joshua Schulman, pledged to stabilize the business with a turnaround plan. 

Premier Foods plc decreased 0.4% to 187.0 pence after the company reported higher sales and earnings in the first half amid rising demand for its food brands. 

Alstom SA soared 7.9% to €21.22 after the French mobility company reported higher-than-expected cash in its interim results driven by rising sales volume and cost savings initiatives.

Thales SA declined 0.6% to €155.55 despite the defense contractor estimating higher sales and growth driven by expansion of its cyber security management systems. 

Siemens AG advanced 6% to €190.20 after the engineering conglomerate reported higher-than-expected fiscal fourth quarter earnings, but the company lowered its sales outlook for fiscal 2025 amid rising geopolitical uncertainties. 

Deutsche Telekom AG jumped 4% to €28.97 after the German telephone company reported better-than-expected third quarter profit and raised its full-year core profit estimate.

Banca Monte dei Paschi di Siena SpA rose 12% to €6.21 after the Italian government sold a 15% stake in the bank to rival Banco BPM. 

Banco BPM gained 2.6% to €6.72.