Market Updates
Europe Movers: Anglo American, Airbus, Atos, Commerzbank, Kingfisher
Inga Muller
25 Nov, 2024
Frankfurt
Stock market indexes in Europe advanced, the euro hovered near a three-year low, and bond yields edged lower amid rate path worries and a weakening economic backdrop.
The DAX index increased by 0.4% to 19,407.29; the CAC-40 index rose by 0.2% to 7,269.86; and the FTSE 100 index advanced by 0.2% to 8,276.55.
The yield on 10-year German bonds edged higher to 2.26%, French bonds inched up to 3.06%, the UK gilts edged higher to 4.38%, and Italian bonds increased to 3.52%.
Anglo American plc increased 1.9% to 2,403.0 pence after Peabody Energy agreed to acquire the company's coal mines in Australia for $3.78 billion.
Atos SE soared 115.7% to €0.34 after the French government proposed to acquire advanced computing activities included in its BDS unit for €500 million.
Airbus SE increased 0.7% to €138.94 after the company launched its second tranche of stock buyback program totaling about 2.1 million shares between November 25 and January 24, 2025.
Kingfisher plc plunged 14% to 253.53 pence after the home improvement retailer lowered its profit outlook.
Commerzbank declined 5.4% to €14.52 after German finance minister Joerg Kukies said Italy-based UniCredit is not likely to go ahead with its plans to acquire the bank because of objections raised by the German government.
Automakers advanced following reports that China and the European Union are nearing a solution to avoid tariffs on electric vehicles imported from China.
Mercedes-Benz Group advanced 0.1% to €52.30, BMW gained 0.6% to €68.22, Volkswagen AG fell 0.2% to €81.64, and Renault SA decreased 2.7% to €39.22.
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