Market Updates
Europe Movers: Nordex, Philips, Ubisoft
Inga Muller
10 Jan, 2025
Frankfurt
Bond yields in the eurozone and the UK continued to approach multi-year highs amid weakening economic outlook, persistent political turmoil, and rising costs linked to he Ukraine war.
The DAX index increased by 0.2% to 20,362.33; the CAC-40 index rose by 0.2% to 7,506.39; and the FTSE 100 index inched lower by 0.2% to 8,303.66.
For the week, the DAX increased 2.2%, the CAC-40 index advanced 2.7%, and the FTSE 100 index gained 0.8%.
The yield on 10-year German bonds edged higher to 2.55%, French bonds rose to 3.40%, the UK gilts increased to 4.84%, and Italian bonds rose to 3.73%.
The euro is expected to trade below parity with the U.S. dollar as the European Central Bank implements its four rate cuts this year, and the British pound is likely to sink to $1.05 amid worsening economic outlook.
Ubisoft declined 7.5% to €11.66 after the French computer game company lowered guidance for fiscal 2025 and announced another delay in releasing the next version of its blockbuster franchise, Assassin's Creed.
Nordex SE increased 1.7% to €11.38 after the German wind turbine maker reported four new orders from customers in Spain totaling 259 MW.
Koninklijke Philips NV advanced 2.2% to €25.45 after the company announced a management shake-up and appointed new leaders for its international regions and precision diagnosis division.
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