Market Updates
Europe Movers: Hays, Nordex, Serco
Inga Muller
15 Jan, 2025
Frankfurt
Stock market indexes in Europe rebounded and bond yields halted increase after consumer price inflation in the U.K. unexpectedly slowed.
Germany's GDP contracted for the second year in a row in 2024.
The DAX index increased by 0.5% to 20,366; the CAC-40 index rose by 0.4% to 7,425.41; and the FTSE 100 index inched higher by 0.7% to 8,254.24.
The yield on 10-year German bonds edged higher to 2.60%, French bonds rose to 3.44%, the UK gilts increased to 4.81%, and Italian bonds edged lower to 3.80%.
Hays PLC advanced 2.8% to 74.45 pence despite the recruitment services provider reporting a decline in revenue in the latest quarter.
Serco plc increased 1.6% to 149.40 pence after the company won a $247 million contract to provide holistic health and fitness services to 45 U.S. Army brigades spread over 15 locations in the U.S.
The company recently won a $193 million award from the U.S. Army for transition and counseling services for veterans, a $97 million new five-year contract for program management and support to the Naval Sea Systems Command, and a $33 million contract renewal to provide psychological health outreach support for the US Navy Bureau of Medicine and Surgery.
Nordex SE increased 3.4% to €12.23 after the German wind turbine maker announced a significant increase in new order flow in 2024.
New orders increased to 8.34 GW from 7.36 GW in 2023, driven by new customers in Brazil and Europe.
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Earnings
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