Europe Movers: Banks, Bayer, Covestro, Sodexo

Bayer said it will appeal the latest order from a U.S. jury to award compensation for the toxic leak. Covestro gained on speculation that the ADNOC is likely to increase its takeover offer. Banks were in focus after the ECB asked 20 banks to set aside higher loan loss reserves.

Europe Movers: CRH, iliad Group, Software AG, Thyssenkrupp Nucera, Unilever, Vodafone

Software AG agreed to sell its technology enterprise business to IBM for cash. CRH partnered with Barro Group to acquire Australian-based cement company Adbri. iliad Group proposed to merge its Italian telecom operations with Vodafone Italia.

Europe Movers: H&M, Munich Re, Sectra, Symrise

Munich Re estimated a rise in net income in 2024. Sectra AB reported strong growth in earnings. Symrise trimmed its full-year operating margin estimate. H&M's net sales declined in the fiscal fourth quarter in local currencies.

Europe Movers: Air France-KLM, BP, Evotec, Serco Group, Vivendi

BP plc confirmed the immediate termination of its former chief executive Bernard Looney and clawed back multi-million pounds in past pay. Air France KLM signaled an improvement in its operating margin over the medium term. Vivendi will explore separating the media company into three separate listed entities.

Europe Movers: Energy Stocks, Entain, Inditex

Inditex said gross margins are expected to be higher in fiscal 2023 because of robust operating performance. Entain, the UK-based online gambling site operator, said its chief executive resigned.

Europe Movers: AstraZeneca, Carl Zeiss Meditec, Hargreaves Lansdown, Hannover Re, Hedlam Group, Nokia, Renault

Renault plans to lower its stake in Nissan and participate in the company's stock repurchase program. Hannover Re said annual earnings are likely to be higher. Carl Zeiss Meditec's annual sales were ahead of expectations.

Europe Movers: Basilea Pharma, Casino Guichard, Domino Pizza, Mining Stocks, MorphoSys, Sandvik, Schibsted

Schibsted ASA agreed to sell its media assets to its largest shareholder. Sandvik AB won an order from a mining equipment company in Sweden. Domino's Pizza reiterated its fiscal 2023 guidance.

Europe Movers: Anglo American, Berkeley Group, Energy Stocks, Monk Investment, Vivendi, Worldline

Anglo American Group announced production cuts and trimmed capital expenditures to improve unit costs. Monk Investment said losses in the first half narrowed. Vivendi was selected to replace Worldline in the CAC 40 index.

Europe Movers: Air France KLM, Games Workshop, IAG, Lufthansa, Sanofi

European airlines were under pressure after JP Morgan lowered its view on stocks, citing rising capacity at large carriers. Sanofi said it has several drugs in the development stage with significant revenue potential.

Europe Movers: British American Tobacco, Mining Stocks, TUI

TUI said operating profit in the fiscal year 2023 more than doubled, and the tour operator estimated strong gains in the fiscal year 2024. British American Tobacco reiterated its full-year earnings per share outlook.

Europe Movers: Ericsson, Luxury Stocks, Nokia, Resource Stocks, Spotify

Nokia plunged after AT&T decided to upgrade its telecom network equipment developed by its rival Ericsson. Spotify said it plans to carry out additional payroll cuts and lower its operating costs.

Europe Movers: Industrial Stocks, Financial Stocks, Luxury Stocks, Resource Stock

Luxury stocks advanced on the hopes of demand growth in the U.S., offsetting the weakness in China. Energy stocks traded down following the weakness in crude oil prices. Mining stocks traded mixed after gold traded at a new high.

Europe Movers: AstraZeneca, Bechtle, Capgemini, Mining Stocks, Viaplay, Swiss Re

Bechtle, the German information technology company, announced a convertible bond offering. Swiss Re announced its new net income target based on IFRS accounting standards. The stock price of Swedish streaming company Viaplay plunged after it announced a debt restructuring plan.

Europe Movers: Banks, Energy Stocks, Luxury Stocks, Mining Stocks

European stocks advanced after consumer price inflation dropped to a multi-month low. Luxury stocks traded down on the ongoing economic rebound worries in China. Banks fell following lower bond yields.

Europe Movers: Aviva, Julius Baer, Rightmove, Sanofi, Valneva, Veolia Enviro

Aviva agreed to acquire a vehicle insurance company in Canada. Rightmove reported better-than-expected financial results. Julius Baer disclosed a significant charge in its business loan segment.