Share Prices & Company Research

Market News

18 Feb 2021 | 16:36

Europe close: Investor sentiment dampened by latest corporate updates

(Sharecast News) - European shares performed poorly on Thursday as corporate results from aviation heavyweight Airbus dampened investor sentiment. The pan-European Stoxx 600 fell 0.82% to 412.7, alongside but a 0.16% dip for Germany's DAX to 13,886.93, although the FTSE Mibtel was down 1.11% to 22,921.83.

Shares in Airbus fell 3% as the European aircraft maker posted an annual loss and withheld a dividend due to the Covid-19 pandemic.

UK medical equipment maker Smith & Nephew shares were down 6% after warning the Covid-19 pandemic's impact would continue into the first half with uncertainty around the timing of any recovery.

French telecoms firm Orange was 3% lower after reporting a drop in core operating profit in the fourth quarter.

Barclays was in the red even after it reinstated its dividend and said it would buy back up to £700m of shares as the bank reported annual profit ahead of forecasts.

French mall owner Klepierre was down 3% on the back of reporting a 25% drop in 2020 net rental income on Wednesday, as on-and-off restrictions in its home market and the rest of Europe shuttered stores with a knock-on effect for landlords.

Moneysupermarket reported a drop in full-year profit on Thursday as revenues, in particular in the travel segments, were hit by the Covid-19 pandemic.

Spanish group Acciona saw its shares soar 11% after new the company was considering a floatation of its renewable energy division. In a brief filing to the Spanish stock market regulator, Acciona said its board would discuss an initial public offering.

Shares in banking software group Temenos led the gainers, flying 19% higher after announcing a strategic agreement with DXC Technology to accelerate digital transformation strategy for its large bank customers.

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