Food stocks lead gains; Siemens Energy jumps, BMW dips (Il Sole 24 Ore Radiocor) - Milan, 08 May - In European stock market dealings most sectors were higher, with food and beverage stocks leading the gains while miners dropped.

German renewables company Siemens Energy jumped 12.95% in Frankfurt dealings after it raised its 2024 outlook on the back of strength in its power grid business and reported its second-quarter profit before special items rose more than fourfold. The company also announced plans to replace the chief of its troubled wind turbine division Siemens Gamesa.

Car giant BMW sank 3.55% after it reported lower first-quarter profit margin and said it expects a slight drop in pretax profit this year as costs rose and demand for its luxury cars weakened.

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(RADIOCOR) 08-05-24 13:48:10 (0391) 5 NNNN