Market Updates
Europe Movers: European Automakers, French Banks, Monk Investment, Zigup
Inga Muller
04 Dec, 2024
Frankfurt
European markets continue to overlook building fiscal pressures and political uncertainty in France and Germany, the two largest economies in the eurozone.
The DAX index increased by 0.8% to 20,144.86; the CAC-40 index rose by 0.2% to 7,270.31; and the FTSE 100 index inched lower by 0.3% to 8,332.74.
The yield on 10-year German bonds edged higher to 2.08%, French bonds inched up to 2.92%, the UK gilts edged higher to 4.27%, and Italian bonds increased to 3.26%.
Leading European automobile companies traded higher, and banks in Paris extended losses for the second consecutive week.
Mercedes-Benz Group increased 2.2% to €53.13, Volkswagen AG advanced 1.8% to €84.60, and Renault SA jumped 4.7% to €41.56.
France's Renault is going ahead with its plans to expand its electric vehicle production in China.
BNP Paribas SA gained 1% to €56.30, Societe Generale added 0.9%, Credit Agricole advanced 1.4% to €12.69, and AXA SA increased 1.1% to €32.65.
Monk Investment Trust PLC gained 0.9% to 1,289.04 pence after the organization reported a net asset value increase.
Zigup PLC plunged 9% to 348.50 pence after the vehicle rental company reported mixed financial results in the first half.
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