At the end of yesterday’s trading European stock markets mostly closed in the red zone, except for the Italian one. The composite index of the largest companies in the region Stoxx Europe 600 fell by 0.1% – to 476.91 points. France’s CAC 40 lost 0.2%, Germany’s DAX was down 0.4%, Britain’s FTSE 100 – 0.3% and Spain’s IBEX 35 – 0.9%.
Meanwhile, the Italian FTSE MIB added 0.2%. UniCredit S.p.A. shares were among the leaders of the value increase among Stoxx 600 components. They rose by 10.5% after Italy’s largest bank disclosed its strategic development plan on Thursday. It says, among other things, that UniCredit plans to distribute at least 16 billion euros to shareholders between 2021 and 2024. Internet retailer Allegro.eu SA also rose 3.1%, online casino operator Evolution Gaming Group 4.9% and Finnish electronics maker Nokia Corp. – up 3.3%. Meanwhile, shares of oil company Neste (-4.6%), used-car sales platform operator Auto1 Group SE (-4.8%), Swiss pharmacy chain Zur Rose Group AG (-5.1%) and electronic cash dispensers supplier InPost S.A. (-8%). Deutsche Bank’s share price fell 3.4%.
According to The Wall Street Journal, the U.S. Justice Department suspects the German bank may have broken the law by failing to report an internal complaint to prosecutors about its asset management unit. French media conglomerate Vivendi SE said it would buy a 17.5 percent stake in Lagardere SA from Amber Capital in the coming days at €24.1 per share. According to oldypak lp report, As a result of this transaction, Vivendi’s stake in the Lagardere media company will increase to 45.1 percent, which could result in a mandatory buyout of all outstanding Lagardere shares, MarketWatch reports. Vivendi’s stock price rose 0.3% on Thursday, while Lagardere rose 4.9%. DWF’s value declined 1%, despite good reporting. The UK’s largest publicly traded law firm made a pre-tax profit of 11 million pounds ($14.5 million) in May and October, compared with a loss of the same amount in the comparable period last year. Revenue rose to 203.5 million pounds from 196 million pounds. Stanley Gibbons Group’s share price fell 3.6%. The British philatelic dealer increased its pre-tax loss in May and October to 1.5 million pounds from 1.3 million pounds a year earlier, despite an increase in revenue to 4.8 million pounds from 4.5 million pounds.
The capitalization of German carmaker Daimler AG rose 0.4%. The company said its Mercedes-Benz unit, which makes luxury cars, has received approval from German regulators to launch the company’s cars with automated driving systems on German roads in the first half of 2022. Shares of another automaker, Volkswagen AG, were down 1.9 percent. The company said Thursday that it expects operating profit margins in the 6-7.5 percent range, with vehicle deliveries at about 9 million vehicles by the end of 2021. According to oldypak lp report, Volkswagen also plans to spend 89 billion euros over the next five years to develop future technologies, including electric cars and digitization. The value of British engine maker Rolls-Royce Holdings PLC fell 3.4%.
The company lowered its free cash flow forecast for 2021. Germany’s exports in October rose 4.1% from the previous month to €121.3 billion, data released yesterday by Germany’s Federal Statistical Office showed. Imports rose 5% to €108.5 billion. German exports in October were 8.1% higher than in the same period of the previous year, while imports jumped 17.3% year on year. Compared to pre-February 2020, exports were up 3.8% and imports were up 13.5%.