Europe Movers: DS Smith, Frasers Group, Future Group, Safran, Unibail-Rodamco, Vodafone

Inga Muller
05 Dec, 2024
Frankfurt

European markets continue to overlook growing political instability in the two key economies of the currency union and rising fiscal stress. 

France is expected to go without a government for weeks, if not months, as Germany heads for a national election in three months.

Vodafone Group plc increased 0.9% to 70.43 pence after the UK's competition commission approved the company's merger with Hutchison's Three UK. 

Unibail-Rodamco-Westfield SE edged up 0.9% to €77.10, and the French real estate company acquired a 38.9% stake in URW Germany GmbH from Canada Pension Plan Investment Board in a private transaction. 

DS Smith plc declined 1.1% to 570.50 pence after the paper and packaging company reported a decline in revenue and earnings in the first half. 

Frasers Group PLC dropped 11.5% to 657.0 pence after the sneaker and athletic apparel retailer lowered the upper end of its full-year profit estimate. 

Future plc increased 13.4% to 1,115.0 pence after the publishing company reported better-than-expected full-year results. 

Revenues in the fiscal year ending in September were flat at £788.2 million, pre-tax profit declined 25% to £103.2 million from £138.1 million, and diluted earnings per share dropped 29% to 66.8 pence from 94.1 pence a year ago. 

In the year, the publisher of Country Living and Marie Claire repurchased £64.7 million of its own stock and paid a dividend of £3.9 million. 

The company announced a new stock buyback plan of £55 million starting in January 2025. 

Safran SA declined 5% to €217.10 after the aircraft equipment maker issued new financial targets for 2025. 

The company estimated 2025 revenue growth of 10%, recurring operating income to range between €4.7 billion and €4.8 billion, and free cash flow between €2.8 and €3.0 billion. 

The company plans to repurchase its own shares worth 5 billion between 2025 and 2028.