Big share price moves in Europe today include two large fashion retailers, Germany’s Zalando and Spain’s Inditex, UK infrastructure company Balfour Beatty and UK insurer Direct Line.
Inditex: Shares in the world’s biggest fashion retailer rose 5 per cent as the group reported its net income soared by more than 30 per cent, to €5bn, last year.
Balfour Beatty: Shares in the UK infrastructure company advanced 7.4 per cent after it announced its revenue grew to £9.6bn last year, a 7 per cent rise, and its full year dividend was increased by 10 per cent to 11.5p per share.
Zalando: Shares in the German online fashion and beauty retailer rose 13 per cent after it announced that its earnings before interest and tax more than doubled in 2023. The group’s share price dipped 35 per cent last year, due to inflationary pressure on consumers and slowing online fashion demand compared to 2022.
Direct Line: Shares in the UK insurer dropped 6.5 per cent to 211p after it said that it had rejected an increased bid from Belgian rival Ageas that valued the company at 237p per share.