Market Updates
Europe Movers: Banks, Credit Agricole, Delivery Hero, Mining Companies, Vehicle Makers
Inga Muller
20 Dec, 2024
Frankfurt
Stock market indexes in Europe extended weekly losses to over 3% after political chaos in the U.S. added to the region's political uncertainties.
The DAX index decreased by 1.2% to 19,736.01; the CAC-40 index fell by 1.0% to 7,224.0; and the FTSE 100 index inched lower by 0.9% to 8,031.30.
The yield on 10-year German bonds edged higher to 2.30%, French bonds held at 3.11%, the UK gilts decreased to 4.56%, and Italian bonds declined to 3.47%.
Banks were in focus after the euro traded down and bond yields turned volatile amid ongoing political turmoil in Germany and France.
Barclays, BNP Paribas, Commerzbank, Deutsche Bank, and UniCredit dropped between 1% and 3%.
Credit Agricole SA decreased 1.3% to €12.90 after the French bank announced the purchase of a 30.5% stake held by Banco Santander in its asset servicing subsidiary CACEIS.
Resource companies declined in Friday's trading after China's political leaders failed to follow through with a detailed implementation plan for the previously announced fiscal stimulus measures.
Antofagasta, Glencore, and Anglo American declined between 1% and 2%.
Passenger vehicle makers declined between 2% and 3% after the U.S. President-elect Donald Trump reiterated his earlier threat of imposing higher tariffs on goods imported from the European Union.
BMW AG declined 0.6% to €76.96, Mercedes-Benz Group AG fell 0.7% to €53.15, Volkswagen AG dropped 0.3% to €87.08, and Renault SA eased 0.4% to €45.94.
Delivery Hero SE dropped 1.8% to €27.08, and the German food delivery platform company appointed Anne Popp as new chief financial officer.
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