HelloFresh, a meal-kit company based in Germany, saw its shares rise by more than 10% on Friday morning following the release of its full-year and fourth-quarter results. The company reported a total of 6.64 million active customers at the end of last year, which represented a 6.5% decrease compared to the same period in 2022.
This increase in share price comes after HelloFresh experienced a significant drop of more than 40% last week due to disappointing 2024 earnings outlook. Overall, the firm’s stock price has fallen by 48% year-to-date.
On the other hand, German property giant Vonovia saw its shares fall by 6% on Friday morning after reporting its largest annual loss ever. The residential real estate company reported a loss of 6.76 billion euros ($7.35 billion) for 2023, a significant increase from the 669.4 million euro loss the previous year. This news comes at a time when Germany’s homebuilding sector has been struggling.
In other news, European markets opened mixed on Friday, with sectors and major bourses pointing in opposite directions. The pan-European Stoxx 600 traded flat shortly after the opening bell.
Additionally, CNBC Pro revealed UBS’s most and least preferred semiconductor names, with one stock potentially offering a 70% upside. Fidelity International also suggested looking beyond Nvidia to ride the AI wave, highlighting other potential winners in the tech sector.
Overall, it was a mixed day for European markets, with some companies seeing gains while others faced losses. Investors will be keeping a close eye on these developments as the day progresses.
