Alstom cuts outlook; Ryanair warns on fuel bill

(AWP Alliance News) - The following stocks are the leading risers and fallers in Europe's major stock indices on Monday.

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CAC 40 WINNERS

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ArcelorMittal SA, up 2.1% at EUR54.74

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Accor SA, up 2.0% at EUR47.24

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Safran SA, up 1.5% at EUR279.90

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CAC 40 LOSERS

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Euronext NV, down 1.4% at EUR175.20, names new CEO

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TotalEnergies SE, down 0.8% at EUR84.74, oil price declines

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Stellantis NV, down 0.8% at EUR4.11

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DAX 40 WINNERS

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Fresenius SE & Co KGaA, up 2.5% at EUR49.01

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Heidelberg Materials AG, up 2.0% at EUR153.40

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Symrise AG, up 1.7% at EUR94.62, fell nearly 9% last week

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DAX 40 LOSERS

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Bayer AG, down 1.9% at EUR49.62

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Deutsche Telekom AG, down 1.2% at EUR25.78

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RWE AG, down 1.1% at EUR56.92

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FTSE 100 WINNERS

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International Consolidated Airlines Group SA, up 3.3% at 415.7 pence, oil price fall lifts travel stocks

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St James's Place PLC, up 3.2% at 1,072.75p

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JD Sports Fashion PLC, up 2.7% at 94.42p

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FTSE 100 LOSERS

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Ithaca Energy PLC, down 2.5% at 295.2p, oil price declines

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Endeavour Mining PLC, down 1.9% at 3,666.5p

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Lion Finance Group PLC, down 1.8% at 1,1810p

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MIB 40 WINNERS

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Buzzi Spa, up 3.5% at EUR41.52

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Lottomatica Group Spa, up 2.4% at EUR26.53

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Moncler Spa, up 2.3% at EUR44.13

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MIB 40 LOSERS

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A2A Spa, down 2.6% at EUR2.341

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Telecom Italia Spa, down 1.1% at EUR5.677

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Eni Spa, down 1.0% at EUR26.86, oil price declines

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SMI 20 WINNERS

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Compagnie Financiere Richemont SA, up 0.5% at CHF166.55

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ABB Ltd, up 0.5% at CHF71.06

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Holcim Ltd, up 1.9% at CHF70.24

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SMI 20 LOSERS

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Novartis AG, down 1.5% at CHF131.82, Deutsche Bank cuts to 'sell' from 'hold'

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Roche Holding AG, down 1.2% at CHF398.50, UBS cuts to 'neutral'

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Zurich Insurance Group AG, down 0.3% at CHF623.80

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European stock movers in focus:

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Alstom SA, down 27% at EUR11.53 in Paris, 12-month range EUR10.89-EUR30.23. The rail transport systems manufacturer says its first half was hurt by "execution issues". Alstom now sees low- to mid-single digit organic sales growth for the full year, its forecast cut from 5% previously. Alstom says sales in the half-year to September 30 rise 3% to EUR9.3 billion from EUR9.1 billion, edging up 2% organically. Alstom expects free cash outflow of EUR1.5 billion for the full year, after previously expecting to be free cash flow positive. This is largely due to milestone payments being pushed into later years amid extended approval timelines and delays to major projects, including Coradia Max, a new regional train design.

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Ryanair Holdings PLC, up 3.5% at EUR23.71 in Dublin, 12-month range EUR21.12-EUR30.15. The budget airline reports weaker half-year profit on rising costs and it notes weaker fares amid "consumer hesitancy and later bookings" stemming from the Middle East conflict. Net profit in six months that ended September 30 falls 15% to EUR2.15 billion from EUR2.54 billion, but revenue rises 2.6% to EUR10.08 billion from EUR9.82 billion. Total operating expenses increase 10% to EUR7.69 billion from EUR6.96 billion. "Unless there is a swift resolution of the Middle East conflict, we expect jet-fuel prices to remain elevated well into 2027," Ryanair says, warning that European carriers face a "significantly higher fuel bill next year". While it believes fares for short haul flights will rise to reflect the rising cost of jet fuel, Ryanair does not expect this to offset an estimated EUR2 billion rise in its fuel bill for financial 2028. "To help address this, we're reviewing all costs across group airlines with a particular focus on airport churn negotiations (as the fuel efficient MAX-10s deliver from Spring 2027), maturing labour agreements (which may require temporary pay freezes), lower crewing ratios and increased use of AI to drive further operational and back-office/support functions productivity," Ryanair says.

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Endeavour Mining, down 1.9% at 3,666.5p, 12-month range 2,916.00p-5,620.00p. The company says that on Wednesday last week the access ramp leading to the depleted Wona open pit partially subsided. This restricted access to the Dangouna and Aviera underground portals at the Mana mine in Burkina Faso. "Underground mining activities at all three active underground portals at Mana have been suspended to allow for detailed geotechnical analysis and ramp remediation work to be assessed," the gold miner says.

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Novartis, down 1.5% at CHF131.82, 12-month range CHF99.15-CHF135.06. Deutsche Bank cuts the pharmaceutical firm to 'sell' after shares climb back to levels seen in early-September, when Novartis had reported disappointing trial results. The del-desiran asset missed the primary endpoint in a myotonic dystrophy study, while pelacarsen failed to meet its goal of reducing major cardiovascular events versus placebo. Deutsche believes the third quarter was "somewhat mixed" for Novartis, but its results got a warm response nonetheless. The bank says this is "partly on the macro flight to 'pharma safety' in recent days". "With the stock now having more than retraced losses since the misses on pelacarsen and del desiran, it is starting to look a little incongruous," Deutsche summarises.

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By Eric Cunha, Alliance News news editor

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