BMW down before investor day; Henkel gets peer boost

5 hours ago

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

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CAC 40 winners

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LVMH Moet Hennessy Louis Vuitton SE, up 0.8% at EUR400.10

Carrefour SA, 0.8% at EUR16.30

Kering SA, up 0.5% at EUR228.40, rallies after Wednesday's falls

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CAC 40 losers

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STMicroelectronics NV, down 2.0% at EUR45.20, US tech weakness

Thales SA, down 2.0% at at EUR234.00

Renault SA, down 1.5% at EUR26.20

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DAX 40 winners

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Beiersdorf AG, up 1.3% at EUR76.92

Henkel AG & Co KGaA, up 0.9% at EUR74.94, positive read-across from US adhesives manufacturer HB Fuller's results

Deutsche Telekom AG, up 0.7% at EUR27.02

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DAX 40 losers

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Rheinmetall AG, down 3.80% at EUR986.00, sector weakness

Infineon Technologies AG, down 3.50% at EUR56.52, US tech weakness

BMW AG, down 2.7% at EUR56.30, UBS expects below consensus guidance at capital markets day on September 29 and 30

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FTSE 100 winners

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JD Sports Fashion PLC, up 2.3% at 75.93p, bounces from Wednesday's fall after half-year results

BP PLC, up 2.1% at 568.70p, reflects oil price strength

British American Tobacco PLC, up 1.7% at 4,271.00p, climbs ahead of US capital markets day next week

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FTSE 100 losers

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Standard Life PLC, down 4.2% at 886.25p, trades ex-dividend

Kingfisher PLC, down 3.2%, at 327.90p, gives back some of Wednesday's double-digit gains after results

St James's Place Capital PLC, down 2.6% at 1,068.25p

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MIB 40 winners

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Tenaris SA, up 1.0% at EUR24.92

Eni Spa, up 0.8% at EUR24.24, reflects oil price strength

Campari NV, up 0.6% at EUR6.04

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MIB 40 losers

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STMicroelectronics NV, down 3.3% at EUR44.65, US tech stock weakness

Technoprobe Spa, down 3.2% at EUR39.98

Leonardo Spa, down 3.1% at EUR48.91, reflects sector weakness

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SMI 20 winners

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Nestle SA, up 0.5% at CHF77.50

Novaris, up 0.5% at CHF118.14

Geberit, up 0.4% at CHF544.40m Berenberg reiterates 'buy' after sell-side analyst dinner on Tuesday

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SMI 20 losers

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Logitech International SA, down 3.6% at CHF84.80, US tech weakness

Partners Group Holding AG, down 3.5% at CHF602.80

UBS Group AG, down 1.7% at CHF38.97, upper house of Swiss Parliament says UBS must hold 90% common equity tier 1 capital against its foreign subsidiaries

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European stock movers in focus:

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Halma PLC, up 0.2% at 3,590.00p, 12-month range 3,268.00p-4,902.00p. The Amersham, England-based safety products manufacturer raises full-year margin guidance after making "strong progress" in the first half but leaves the outlook for its high growth Photonics business unchanged. In a scheduled trading update ahead of its half-year end on September 30, Halma says it has delivered "broad-based growth" in the period against a "backdrop of continued economic, geopolitical and market uncertainty". The FTSE 100 listing continues to expect low double-digit percentage organic constant currency revenue growth for the financial year compared to GBP2.58 billion in the 12 months ended March 31, 2026. Guidance includes "premium" growth of around five percentage points from its photonics business, implying an organic constant currency photonics growth rate of around 30%, unchanged from before. Adjusted earnings before interest and tax margin for the full-year is now expected to be between 23.5% to 24%, raised from previous guidance for margin to be in line with the 2026 financial year at around 22.7%.

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Schneider Electric SE, up 0.5% at EUR294.75, 12-month range EUR220.40-EUR312.30. The Paris-based electrical equipment company enters an agreement to acquire Bulgaria's Shelly Group, Shelly says on Thursday. Shelly says Schneider Electric intends to offer EUR70 in cash per share, or EUR1.2 billion in total. While the French company is yet to officially register an offer, Shelly says it has entered an investment agreement with a wholly-owned subsidiary of Schneider Electric called SE 2026 A SAS.

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BMW AG, down 2.7% at EUR56.30, 12-month range EUR55.90-EUR97.92. Munich-based car maker trades at six-year low ahead of next week's capital markets day. UBS says BMW will likely announce new goals next Wednesday but expects it to guide for 3% to 5% auto earnings before interest and tax margin for 2028 versus consensus at 5.1%. It expects BMW to step-up cost cutting measures and thinks a capital return to shareholders is unlikely.

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UBS Group AG, down 1.7% at CHF38.97, 12-month range CHF28.25-CHF45.04. UBS claims Wednesday's capital ruling by the Swiss Council of States will result in "excessive tightening" of Swiss capital requirements. The Zurich-based bank was responding to the decision made by the Switzerland's upper house of Parliament that UBS must hold 90% common equity tier 1 capital against its foreign subsidiaries. The Swiss government previously had considered a 100% CET1 requirement. UBS had proposed holding 50% CET1 capital and 50% additional tier 1 capital, which would be cheaper for the bank to hold. UBS argued that Swiss capital requirements are already "among the most stringent globally" and that the decision was a political one that fails to address the root cause of the Credit Suisse collapse in 2023.

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Henkel AG & Co KGaA, up 0.9% at EUR74.94, 12-month range EUR61.28-EUR84.20. Stock climbs on a positive read-across from results from adhesives manufacturing company HD Fuller, headquartered in St Paul, Minnesota. HB Fuller's quarterly organic sales growth came in at 4.4%, up from 2.6% in the previous quarter. Within this, price growth accelerates from 3.0% to 7.4% on-quarter. Dusseldorf, Germany-based chemicals and consumer goods firm Henkel provides a third-quarter trading update on November 10 and also operates in the adhesives manufacturing market. Another lift came on Wednesday as the European Commission approved plans by Henkel to buy Dutch coatings company Stahl.

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By Jeremy Cutler, Alliance News reporter

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