News

European Stock Market Update

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4.6

Andrew R. Michaud

• February 28, 2024

On Wednesday, European stocks had a mixed day, with the Stoxx Europe 600 index closing down at 494.59, a decrease of 0.35%. Here is a breakdown of some key movements in the major European markets:

FTSE 100 Index

The FTSE 100 index weakened by 0.76% to reach 7,624.98.

French CAC 40 Index

The French CAC 40 index remained flat at 7,954.39.

German DAX

The German DAX managed to rise slightly by 0.25% to 17,601.22.

Top Performers and Underperformers

• Biggest Declines:
  • St. James's Place PLC experienced a significant drop of 18.6%.
  • Teleperformance SE and Reckitt Benckiser Group PLC also tumbled by 14.1% and 13.3%, respectively.
  • Worldline S.A. and Watches of Switzerland Group PLC saw their stocks fall by 10.2% and 6.5%.
• Biggest Increases:
  • Direct Line Insurance Group PLC soared by an impressive 23.8%.
  • Sydbank A/S and UCB S.A. also posted strong gains of 9.5% and 8.1%.
  • Glanbia PLC and HelloFresh SE rounded out the top performers with increases of 7.7% and 7.0%.

Currency and Commodity Movements

• The pound was down by 0.12% against the dollar, while the euro remained steady.
• Brent crude fell by 0.80% to $82.00.

Bond Yields

• The yield on the 10-year gilt declined by 1.95 basis points to 4.112%.
• The German 10-year bund saw a decrease of 1.030 basis points to reach 2.46%.

This information was generated using data from Dow Jones and FactSet, providing valuable insights into the European market trends for the day.