News

European Stocks Wrap-Up

James L. Flint

• February 21, 2024

European stocks wrapped up the day with mixed results on Wednesday, showcasing a combination of ups and downs across major indices.

Declines

• The Stoxx Europe 600 index (SXXP) fell by 0.17% to 491.05.
• The FTSE 100 index (UKX) dropped 0.73% to 7,662.51.
• The French CAC 40 index (PX1) saw a modest increase of 0.22% to 7,812.09.
• The German DAX (DAX) also experienced a slight increase of 0.29% to 17,118.12.

Top Decreases

• Business services company Edenred SE (EDEN) led the way with the largest drop, plummeting by 11.5%.
• HSBC Holdings PLC (UK Reg) (HSBA) and Fresenius Medical Care AG (FME) saw declines of 8.4% and 5.5%, respectively.
• Zealand Pharma A/S (ZEAL) and JDE Peet's N.V. (JDEP) rounded out the top five largest decreases, with drops of 5.1% and 5.0% each.

Top Increases

• Forvia SE, an automotive company, saw the largest increase among Stoxx Europe 600 constituents, with shares soaring by 9.3%.
• NKT A/S and Carrefour S.A. experienced increases of 6.4% and 4.9%, respectively.
• Machinery company Tomra Systems ASA and road/rail transport company Alstom S.A. rounded out the top five largest increases, with gains of 4.9% and 4.4%, respectively.

Currency and Oil Movements

• The pound (GBPUSD) edged up by 0.01% against the dollar.
• The euro (EURUSD) also saw a slight increase of 0.09%.
• Brent crude (BRN00) rose by 0.58% to reach $82.82.

Yield Changes

• The yield on the 10-year gilt (TMBMKGB-10Y) rose by 6.42 basis points to 4.108%.
• The yield on the German 10-year bund (TMBMKDE-10Y) increased by 7.180 basis points to reach 2.45%.