Beiersdorf Slumps, Hiscox Jumps, Glencore Falls

On this episode of Stock Movers:
- Beiersdorf shares fell as much as 10% to their lowest level since November 2022, after the maker of personal care products reported weaker organic growth than expected and cut its full-year guidance, as a slowdown in the global skincare market hurt the Nivea brand. Analysts said the outlook cut was somewhat expected, but the magnitude is pressuring shares.
- Hiscox shares rose as much as 15% to the highest since November 2019 after the insurance company reported first-half pretax profit that beat the average analyst estimate. Citi noted positives from the unexpected buyback increase and commentary on the outlook.
- Glencore shares fell as much as 4.7% in London, to its lowest intraday level since July 1 after the miner reported adjusted Ebitda for the first half that missed the average analyst estimate. The miner also scrapped plans to move its primary listing away from London as the company looks to revive a share price that’s been weighed down by slumping coal prices and falling production.

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