Europe Movers:

Inga Muller
29 Jan, 2025
Frankfurt

European markets rebounded and trimmed weekly losses as investors shifted their focus away from geopolitical tensions to the latest batch of corporate results. 

Sweden lowered its policy rate for the fifth time in a row. Spain's fourth-quarter GDP growth surpassed expectations. 

The DAX index moved higher by 0.4% to 21,505.42; the CAC-40 index fell 0.4% to 7,865.95; and the FTSE 100 index advanced by 0.02% to 8,535.75. 

The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.28%, the UK gilts moved down to 4.58%, and Italian bonds edged lower to 3.61%.

Logitech gained 0.4% to CHF 82.68 after the Swiss computer accessories maker posted mixed earnings for the third quarter of fiscal year 2025.

Net sales in the quarter ending in December increased to $1.34 billion from $1.26 billion; net income dropped to $200 million from $244.7 million, and earnings per diluted share fell to $1.32 from $1.55 a year ago.

Gaming sales surged 14% and tablet accessories sales were up 21%.

The company returned $200 million of cash to shareholders through share repurchases.

Atlas Copco Group plunged 3.5% to 180.40 krona after the Swedish industrial manufacturer posted earnings for the fourth quarter ending in December.

Revenue increased to 45.99 million krona from 44.95 million krona; profit surged to 7.80 million krona from 6.78 million krona, and earnings per diluted share rose to 1.60 krona from 1.39 krona a year ago.

Net cash from operating activities climbed to 11.76 million krona from 10.31 million krona, bringing the total cash and cash equivalents to 18.97 million krona from 10.89 million krona a year ago.

LVMH eased 0.6% to €750.6 after the luxury goods retailer posted a slight revenue decline for the full year 2024 ending in December.

Revenue declined 2% to €84.68 million from €86.15 million; net profit moved down to €12.55 million from €15.17 million a year ago, driven by a 36% plunge in wine and spirits sales.

The company proposed to pay a dividend of €7.50 per share on April 28.

Remy Cointreau SA edged down 2.8% to €58.20 after the French alcohol beverages distributor posted lower earnings for its third quarter ending in December.

Sales in the Americas and Asia-Pacific declined, reflecting tougher market conditions in China, while Southeast Asia sales rebounded.

In the first nine months of 2024-25, the company reported sales of €787.8 million, down 17.8% on an organic basis.

The overall performance includes an organic decline of 21.5% in the third quarter, or 20.6% as reported.

Akzo Nobel NV traded flat at €60.52 after the Dutch paints and performance coatings maker posted mixed earnings for the fourth quarter ending in December.

Revenue increased 4% to €2.62 billion from €2.53 billion; net income slipped to €21 million from €41 million, and earnings per share fell to 12 euro cents from 24 euro cents a year ago.

Net cash from operating activities declined to €398 million from €574 million, impacted by restructuring costs.

Tele2 edged up 0.6% to 115.20 krona after the Swedish streaming TV and networking company posted strong earnings for the fourth quarter ending in December.

Revenue increased 1.3% to 7.78 billion krona from 7.68 billion krona; net profit surged to 971 million krona from 936 million krona, and earnings per diluted share rose to 1.39 krona from 1.34 krona a year ago.

Equity free cash flow climbed to 808 million krona from 531 million krona a year earlier.

Lonza Group AG traded flat at CHF594.60 after the Swiss pharmaceutical and nutrition products provider posted mild earnings for the year ending in December.

Sales were down 2.1% to CHF6.57 billion from CHF6.72 billion; profit declined 2.7% to CHF637 million from CHF655 million, and earnings per diluted share edged down to CHF8.88 from CHF8.92 a year ago.

The company posted a significant increase of net debts, driven by acquisitions and divestitures.

WH Smith Plc gained 5.7% to 1,258 pence after the British books and travel retailer posted growth for the 21-week period to January 25.

Comparable sales surged 3% in North America, driven by new product categories and additional stores at Orlando. Florida and Portland, Oregon, airports.

Wacker Chemie AG gained 1.9% to €65.76 despite the German chemical company reporting a core profit decline on lower prices and high energy costs.

Sales in the fiscal year 2024 ending in December declined 11% to €5.7 billion from €6.4 billion; net income fell 19% to €265 million from €327 million, and earnings per share dropped to €4.90 from €6.31 a year ago.

Net cash flow swung to negative €325 million from positive €166 million, driven by a significantly higher net debt.

Givaudan SA eased 0.3% to CHF4.024 after the cosmetics ingredients maker topped forecasts with strong growth for fiscal year 2024 ending in December.

Group sales increased 7.2% to CHF7.41 billion from CHF 2.69 billion; net income surged 22.1% to CHF1.09 billion from CHF893 million, and earnings per share rose to CHF118.17 from CHF96.81 a year ago.

Free cash flow climbed by 25.9% and net debt was 7% lower, driven by a 12.3% growth in overall comparable sales.