Europe Movers: ABF, CMC Markets, Essity, IG Group, Swedebank

Inga Muller
23 Jan, 2025
Frankfurt

Benchmark indexes in Frankfurt and London hovered near new record highs as investors reviewed the latest batch of mixed earnings and awaited rate decisions from the European Central Bank next week. 

The DAX index moved higher by 0.3% to 21,320.58; the CAC-40 index jumped 0.5% to 7,874.92; and the FTSE 100 index eased by 0.03% to 8,542.52.

The yield on 10-year German bonds inched higher to 2.51%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds edged higher to 3.62%.

Puma slumped 18% to €34.40 after the sportswear company reported a decline in fourth-quarter operating profit.

The company targeted EBIT margin of 8.5% by 2027 driven by its cost-cutting program.

Sports company said currency adjusted fourth quarter 2024 sales increased 9.8% to €2.3 billion.

Nominal sales in the fourth quarter rose 15.5%, missing the estimates released by some analysts.  

On a full-year basis, currency neutral sales 4.4% and nominal sales advanced 2.5% to € 8,817 million, matching the company's previous outlook. 

Net income rose to €24 million from €1 million a year ago, Puma said in an investor update. 

The company said it will publish its results for fiscal year 2024 and outlook for 2025 on March 12.

Associated British Foods Plc fell 2.8% to 1,883 pence after the UK-based food processor and parent company of Primark lowered its annual outlook amid struggling UK sales.

Total revenue in the fiscal first quarter of 16 weeks ending on January 4 declined 2.2% to £6.7 billion. 

Primark sales declined 0.5% to £3.3 billion and grocery sales dropped £1.8% to 1.4 billion.  

Retail sales in the UK and Ireland, which represent 45% of sales, declined by 4% as comparable store sales slipped by 6%.

The company estimated sales growth in low single-digits in 2025, despite "the market conditions in the UK and Ireland."

Essity dropped 8% to 275.30 krona after the Swedish hygiene and health products maker reported weaker-than-expected fourth-quarter core earnings results.

Net sales increased 3.2% to SEK 37.80 million from SEK 36.62 million; EBITA dropped 1% to SEK 4.58 million from SEK 36.62 million, and earnings per share increased to SEK 4.13 from SEK 4.02 a year ago.

IG Group fell 3.2% to 1,039 pence after the British online trading platform posted a 30% rise in profit in the first-half of year 2025.

Revenue surged 11% to £522.5 million from £472.6 million; adjusted net income increased to £19.8 million from £15.4 million; and earnings per share rose to 55.3 pence from 38.9 pence a year ago.

Sandvik AB gained 6.2% to 224.6 krona after the Swedish engineering company posted a slight increase in its fourth-quarter net income.

Revenue rose 1% to 32,151 million krona from 31,816 million krona; adjusted EBITA inched up 1% to 6,288 million krona from 6,211 million krona, and diluted earnings per share jumped to 3.42 krona from 3.39 krona a year ago.

Swedebank climbed 3.7% to 245.6 krona after the Swedish bank posted improved earnings results for the fourth quarter.

Total income declined 2% to 18.63 billion krona from 19.03 billion; profit rose 2% to 8.46 billion krona from 8.32 billion krona, and diluted earnings per share rose to 7.50 krona from 7.38 krona a year ago.

CMC Markets plunged 18% to 216 pence after the UK-based online trading platform operator left its full-year fiscal 2025 revenue and earnings outlook unrevised.