Europe Movers: ams-OSRAM, BP, Ceconomy, Entain, GN Store Nord, Kering, UniCredit

Inga Muller
11 Feb, 2025
Frankfurt

European markets hovered near recent highs as investors reviewed the latest updates on earnings. 

France's jobless rate edged slightly lower in the fourth quarter, and the youth unemployment rate remained elevated. 

The DAX index increased by 0.10% to 21,934.27, the CAC-40 index edged lower 0.05% to 8,001.99; and the FTSE 100 index advanced by 0.05% to 8,772.53.     

The yield on 10-year German bonds inched higher to 2.41%, French bonds increased to 3.14%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.51%.

 

Europe Stock Movers 

Novartis AG was nearly unchanged at CHF 96.94, and the Swiss pharmaceutical company agreed to acquire Anthos Therapeutics for $3.1 billion. 

BP plc decreased 0.6% to 462.30 pence, and the British oil company reported a steep decline in profit in the fourth quarter. 

UniCredit SpA decreased 2.8% to €45.93, and the Italian bank estimated a moderate decline in net interest margin in 2025 and reported better-than-expected 2024 earnings.

Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter. 

Entain PLC plunged 10.5% to 667.32 pence after the UK-based online gambling company's chief executive Gavin Issacs stepped down immediately after six months in the office. 

ams-OSRAM AG jumped 16.8% to CHF 7.95, and the Austrian semiconductor company posted weak sales in the first quarter but held out for a strong recovery in automotive electronics in the fiscal second half.

 

Recent Earnings Movers

Ceconomy AG gained 0.6% to €3.17 after the German electronics retailer posted revenue growth for the fiscal year 2024.

Sales increased to €22.44 billion from €22.24 billion, net income swung to a profit of €77 million from a loss of €37 million, and earnings per diluted share rose to 16 cents from a loss of 8 cents a year ago.

Same-store sales growth slowed to an increase of 4.1%, compared to 4.3% increase a year earlier.

Chinese e-commerce giant JD.com has signaled an interest to acquire the specialty electronics retailer Ceconomy.

Vinci SA dropped 1.5% to €108.20 despite the French concessions and construction company reporting revenue growth in fiscal year 2024.

Revenue increased to €71.62 billion from €68.39 billion, net income climbed to €5.27 billion from €5.10 billion, and earnings per diluted share rose to €8.43 from €8.18 a year ago.

The company proposed a dividend of €3.70 per share, higher than €3.45 in 2023, and payable on April 24.

In addition, Vinci proposed to purchase shares up to a maximum of 10% of the number of shares making up the company's share capital over a period of 18 months from April 9 to October 8.

GN Store Nord A/S dropped 2.9% to 139.90 krona after the Danish manufacturer of hearing aids, speakerphones, videobars and headsets said revenue declined in the fiscal year 2024.

Revenue decreased to DKK 17.98 billion from DKK 18.12 billion, profit jumped to DKK 1.06 billion from DKK 266 million, and earnings per diluted share rose to DKK 6.78 from DKK 1.64 a year ago.

Revenue in the fourth quarter declined to DKK 5.02 billion from DKK 5.07 billion a year earlier.

GN Store will not pay out dividends for 2024, and the company paused is stock  repurchase program for now. 

UniCredit SpA dropped 3.1% to 45.83 after Italy’s second-largest lender posted higher-than-expected fourth quarter earnings, but guided weak revenue growth for fiscal 2025.

The bank raised its cash dividend payout guidance to 50% of net profit in 2025, from 40% in 2024.

In fiscal 2024, revenue increased 4% to €24.2 billion from €23.8 billion, and net profit jumped 2% to €9.7 billion from €9.5 billion a year ago.

For fiscal 2025, the bank estimated revenue of above €23 billion, compared to €24.2 billion last year, reflecting compression of its business in Russia and “moderate decline” in expected net interest income.

In November, UniCredit issued a €1 billion floating rate senior preferred bond with 4 years maturity, callable after 3 years, targeted to institutional investors.

Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter. 

Revenue declined to €17.19 billion from €19.57 billion, net income dropped to €1.13 billion from €2.98 billion, and earnings per diluted share fell to €9.24 from €24.37 a year ago.

Sales in the Gucci segment decreased 24% to €1.92 billion from €2.53 billion a year earlier, in Yves Saint Laurent they were down 8% to €770 million from €835 million, while in Bottega Veneta sales increased 12% to €480 million from €431 million.

Revenue in the company’s Eyewear and Corporate segment jumped 10% to €434 million from €366 million a year ago.  

During the year, Kering acquired real estate assets in New York and Milan as the key desirable locations for its houses.

Ams-OSRAM AG surged 17.6% to CHF 8.01 despite the Austrian semiconductor manufacturer reporting weak results for the fourth quarter ending in December.

Revenue declined to €882 million from €908 million, net loss shrank to €58 million from €82 million, and loss per diluted share declined to 59 cents from a loss of €1.79 a year ago.

For the first quarter of 2025, the company estimated revenue between €750 million and €850 million, in line with further savings efforts.

BP Plc. dropped 0.8% to 461.65 pence after the British energy company reported a sharp drop in fourth-quarter profit on weaker refining margins.

Revenue declined to $45.75 billion from $52.14 billion, net income swung to a loss $1.62 billion from to a profit of $436 million, and loss per diluted share came in at $12.33 from a profit of 13 cents a year ago.

The company launched a $1.75 billion share buyback in the fourth quarter.

During the quarter, BP paid dividends per ADS of 48 cents, higher than 43.62 cents a year earlier.

For fiscal year 2025, the company expects $3 billion in divestment and other proceeds, and the Gulf of Mexico settlement payments of around $1.2 billion pre-tax, including $1.1 billion pre-tax to be paid during the second quarter.