News

European Stocks

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4.9

Andrew R. Michaud

• August 17, 2023

European stocks experienced a decline on Wednesday, with the Stoxx Europe 600 index finishing down 0.06% at 455.29.

Key Index Movements

Here are the key movements for the major European indexes:

• The FTSE 100 index dropped 0.44% to 7,356.88.
• The French CAC 40 index fell 0.10% to 7,260.25.
• The German DAX gained 0.14% to 15,789.45.

Top Losers Among Stoxx Europe 600 Constituents

The largest drop on Wednesday was seen by technology company Netcompany Group A/S, as its shares tumbled 11.1%. Health care/life sciences firm Tecan Group AG and leisure/travel goods company CD Projekt S.A. also experienced significant drops, falling 5.3% and 4.6% respectively. Sinch AB, a technology company, and automotive firm Rheinmetall AG rounded out the top five with declines of 4.0% and 3.8% respectively.

Top Gainers Among Stoxx Europe 600 Constituents

Insurance company Admiral Group PLC saw the largest increase among Stoxx Europe 600 constituents, as its shares rose by 7.2% on Wednesday. Insurance firm Direct Line Insurance Group PLC and food/beverages/tobacco company Glanbia PLC also experienced notable gains, with increases of 7.1% and 6.1% respectively. Marks & Spencer Group PLC, a retail company, and retail firm HelloFresh SE completed the top five with stocks rising by 4.5%.

Currency and Commodity Movements

The pound was up 0.33% against the dollar, while the euro was down 0.02%. Brent crude weakened by 0.19% to $84.73.

Bond Yields

The yield on the 10-year gilt increased by 5.58 basis points to 4.647%, while the yield on the German 10-year bund fell by 2.400 basis points to 2.65%.