Tuesday saw varied performances across European stock markets, with all eyes on the European Central Bank’s (ECB) upcoming decision.
With inflation goals yet to be met, interest rates are likely to stay put.
Bayer’s decision to halt its unit separation plan led to a sharp decline in its stock value, leaving investors wanting.
The FTSE 100 in London edged up by 0.08% to 7,646.16 points.
Conversely, Frankfurt’s DAX dropped slightly by 0.10% to 17,698.40 points, and Paris’s CAC-40 decreased by 0.30% to 7,932.82 points.
In Frankfurt, Bayer’s stocks took a 7.39% hit, the largest among DAX listings.
Company head Bill Anderson dismissed any near-term division plans, amidst efforts to alleviate debt and elevate stock value under investor scrutiny.
Despite Bayer’s net profit jump to 1.337 billion euros in Q4 of 2023 from 611 million euros the year before, sales dipped by 1.2%. The company now braces for steady sales but a profit downturn.
London’s mining shares fell, reacting to China‘s 2024 growth projections. Antofagasta saw a 3.45% drop, Rio Tinto 1.40%, and Anglo American 0.19%.
In Paris, Thales stocks leaped by 9.25% following the firm’s performance, surpassing analyst forecasts for the prior year.
Elsewhere, Madrid’s Ibex 35 climbed by 0.43% to 10,113.20 points, Milan’s FTSE MIB by 0.71% to 33,146.16 points, and Lisbon’s PSI 20 by 0.19% to 6,187.35 points.