By Carla Mozee, MarketWatch

Nestlé gains, Adidas falls

Nestlé gains, Adidas falls

LONDON (MarketWatch) -- These stocks made notable moves in European trade Thursday.

Advancers

Nestlé SA rose 3.7% after the food giant said it will launch an offer to buy back up to eight billion Swiss francs ($8.8 billion) of its shares. The company's first-half earnings fell nearly 10%.

Zurich Insurance Group AG shares tacked on 3.2% as the company said second-quarter profit rose 6%, with its general insurance business benefiting from a lack of weather-related losses.

Commerzbank AG shares gained 2.6% after the financial-services firm said second-quarter profit more than doubled, driven by a stronger performance at its retail unit and lower overall loan-loss provisions.

Decliners

Coca-Cola HBC AG sank over 5% after the second-biggest bottler for Coca-Cola Co. (KO) warned of a "continuing challenging volume" in its markets such as Russia. Also: Russia retaliates with bans on food imports from EU, U.S.

Adidas AG fell 3.4% as management said it will move quickly in its efforts to boost sales and profit after the sportswear retailer acknowledged it won't meet business targets for next year.

Old Mutual PLC shares lost 1.3% after the financial-services firm's pretax profit fell financial services dropped to 564 million pounds ($949.9 million), from GBP805 million a year earlier.

Rheinmetall AG fell 3% after the German industrial conglomerate cut its sales and earnings forecasts as Berlin canceled an export license tied to a deal that Rheinmetall had in Russia.

Also read: European stocks waver

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Coca Cola (NYSE:KO)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Coca Cola Charts.
Coca Cola (NYSE:KO)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Coca Cola Charts.