Europe Movers: ASSSA ABLOY, Kingfisher, Character Group, Hardide, Konron, Renault

Inga Muller
18 Dec, 2024
Frankfurt

The overall and core consumer price inflation accelerated in the U.K., supporting the case for the central bank to hold rates steady. 

The euro retained its downward bias amid ongoing political turmoil in France and Germany.

The DAX index increased by 0.4% to 20,318.97; the CAC-40 index rose by 0.4% to 7,391.90; and the FTSE 100 index inched higher by 0.2% to 8,211.95.

The yield on 10-year German bonds edged higher to 2.24%, French bonds inched up to 3.04%, the UK gilts increased to 4.55%, and Italian bonds increased to 3.41%.

The euro edged higher to $1.05; the British pound inched up to $1.27; and the U.S. dollar advanced to 89.35 Swiss cents.

Renault SA advanced 5.8% to €47.09 after reports in Japan confirmed that Honda and Nissan have initiated merger talks. 

The French automaker, Renault, owns 23% of Nissan, and Mitsubishi may join the merger. 

Japanese automakers are struggling to gain market share amid rising competition from Chinese electric vehicle makers in Asia and South America. 

Kingfisher plc advanced 0.8% to 254.80 pence, and the British home improvement company agreed to sell Brico Depot Romania to Altex Romania for €70 million. 

ASSA ABLOY advanced 1.4% to SEK 344.20, and the access solution provider said it acquired the U.S.-based Norshield Security Products. 

Kontron AG jumped 9% to €19.57 after the German technology company said it has received an order of 165 million from a European defense company. 

Hardide PLC soared 29.6% to 6.14 pence after the tungsten carbide coating company said it secured a ten-year contract for coating aerospace cargo door components. 

Character Group PLC jumped 3.8% to 274 pence after the toy and games company reported fiscal 2024 results that met investor expectations. 

Revenue in the fiscal year ending in August increased to £123.4 million from £122.6 million, pre-tax profit advanced to £5.7 million from £4.7 million, and diluted earnings per share rose to 29.72 pence from 20.0 pence a year earlier. 

The company declared a dividend per share of 19 pence, matching the level in the previous year.