European markets close sharply higher as gradual reopening continues; Airbus and Lufthansa shares rally; BELEX15 down light 0.14%, Metalac scheduled AGM for 26th June - proposes RSD 85 gross pre share as a cash dividend
European equities rallied Monday as countries gradually continue to reopen their economies and lift coronavirus lockdown restrictions.
The French CAC 40 finished up by around 1.9%, while Germany’s DAX index gained 2.6%. U.S. and U.K. markets were closed Monday for Memorial Day and the U.K. spring bank holiday, respectively.
Germany’s rally was led by aircraft engine manufacturer MTU Aero Engines, up 7% and carrier Lufthansa, up around 6% on the news that it’s approaching a deal for a 9 billion euro bailout from the German government.
German pharmaceutical giant Bayer also led the index’s rise Monday, trading more than 8% higher. Bayer’s stock price was boosted by reports that it had reached agreements over a raft of U.S. lawsuits involving its Roundup weedkiller.
Serbian BELEX15 was down only light 0.14% as some bigger names such Metalac, Tehnogas and Alfa were also under light sell pressure. The most traded name was Tehnogas with RSD 10m in volume. Metalac announced its annual GA for 26th June, when the company will decide on dividend payment. It was proposed RSD 85 gross per share, which gives 4.7% gross yield at a current price (16th June is a record date). Consolidated report is now available, where we can see 8% increase in 2019 sales, while net profit is slightly lower (down 7% due to higher tax). The stock lost minor 0.06% yesterday.
Source: CNBC, Ilirika