Luxury and consumer stocks retreat; energy up

3 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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BNP Paribas SA, up 1.2% at EUR103.48

Engie SA, up 1.0% at EUR24.26, energy prices rally supports shares

Orange SA, up 1.0% at EUR15.40

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CAC 40 losers

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Pernod Ricard SA, down 1.6% at EUR59.17, luxury and discretionary consumer stocks come under pressure amid slowing global demand

L'Oreal SA, down 1.4% at EUR377.60

EssilorLuxottica SA, down 1.4% at EUR147.18

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DAX 40 winners

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Commerzbank AG, up 1.5% at EUR42.59, shares near 52-week peaks

Fresenius SE & Co KGaA, up 1.4% at EUR44.68

Munich Re AG, up 1.2% at EUR502.00

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DAX 40 losers

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SAP SE, down 2.9% at EUR177.46

adidas AG, down 2.0% at EUR143.60, Morgan Stanley cuts price target to EUR190 from EUR215

Symrise AG, down 1.0% at EUR88.17

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FTSE 100 winners

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Compass Group PLC, up 1.7% at USD31.06

BP PLC, up 1.1% at 563.05p, tracks oil prices higher

Hiscox Ltd, up 1.1% at 1,864.50p

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FTSE 100 losers

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Associated British Foods PLC, down 10% at 1,810.75p, says heatwave dents fourth-quarter sales

Computacenter PLC, down 3.4% at 5,015.00p

M&G PLC, down 2.9% at 335.00p, shares trade ex-dividend

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MIB 40 winners

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Lottomatica Group Spa, up 4.0% at EUR27.04

Ferrari NV, up 1.9% at EUR352.83

Leonardo Spa, up 1.6% at EUR49.58

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MIB 40 losers

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Moncler Spa, down 2.8% at EUR43.89

Buzzi Spa, down 1.2% at EUR39.37

Campari NV, down 0.7% at EUR5.70

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SMI 20 winners

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Novartis AG, up 1.3% at CHF113.11

Swiss Re AG, up 1.3% at CHF135.68

Kuehne & Nagel International AG, up 0.9% at CHF211.95

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SMI 20 losers

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Alcon AG, down 2.1% at CHF54.62

UBS Group AG, down 1.4% at CHF43.93

Compagnie Financiere Richemont SA, down 1.3% at CHF173.03

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European stock movers in focus:

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L'Oreal SA, down 1.4% at EUR377.60, 12-month range EUR338.85-EUR405.80. Signs a memorandum of understanding with Cosmax Inc to collaborate on next-generation beauty products inspired by K-beauty. Cosmax, a Seongnam, South Korea-based cosmetics research, development and manufacturing company, offers "science-based product development and agile R&D capabilities" according to L'Oreal. The collaboration covers global product development, ingredients development and sensory innovation. The MoU was signed during a bilateral summit marking the 140th anniversary of diplomatic relations between France and South Korea.

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Associated British Foods PLC, down 10% at 1,810.75 pence, 12-month range 1,729.45p-2,359.00p. The Primark owner reports "resilient" fourth-quarter trading but flags pressure from the prolonged summer heatwave, weak consumer confidence in continental Europe and lower sugar prices. Primark fourth-quarter sales are expected to rise 2% on-year, but fall 3.0% on a like-for-like basis, as hot weather delayed purchases of autumn clothing. Continental European sales are expected to fall 1%, with like-for-like sales down around 4.3%. AB Foods expects full-year adjusted operating profit in line with previous expectations and earnings per share ahead, while warning that its Sugar division is set for a wider adjusted operating loss of GBP70 million to GBP170 million in financial 2027. The company also plans to launch Primark home delivery in Great Britain and has bought a highly automated Sheffield fulfilment centre from boohoo Group PLC for GBP90 million to support the service. boohoo shares are up 17%, after saying the disposal significantly contributes to deleveraging and means it now expects net debt to be "negligible" at its February financial year-end. AB Foods says the planned demerger of Primark is progressing well and remains on track for completion in December 2027.

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BP PLC, up 1.1% at 563.05, 12-month range 399.35p-609.40p. The oil major tracks gains across European energy shares as global crude prices extend their sharp rise amid escalating tensions in the Middle East. Brent crude broke back above the psychologically important USD100-a-barrel mark on Wednesday and trades at USD101.69 on Thursday morning, while West Texas Intermediate climbs above USD96 a barrel. Oil prices have surged as tit-for-tat military action between the US and Iran intensifies concerns over disruption to global energy supplies.

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Pernod Ricard SA, down 1.6% at EUR59.17, 12-month range EUR58.60-EUR95.62. The drinks maker tracks weakness across European luxury and consumer discretionary stocks, with the Stoxx Europe Luxury 10 index around multi-month lows and down roughly 19% year-to-date. The sector is being pressured by a persistent slowdown in spending in mainland China, as softer sentiment among affluent consumers is compounded by concerns over new tax measures targeting offshore wealth. Consumption from Middle Eastern customers has also stalled, adding to worries over demand for premium goods.

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By Eva Castanedo, Alliance News senior economics reporter

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