Market Pulse - Europe
Europe close: Stocks mixed at start of short holiday week
European markets finished in a mixed state on Monday, at the start of a shortened week ahead of Christmas and as global attention turned to news of a potential merger between Japanese auto giants Honda and Nissan.
Novo Nordisk shares slide despite promising weight loss trial results
Novo Nordisk has announced promising results from its REDEFINE 1 phase three trial of CagriSema, a combination of cagrilintide and semaglutide designed for weight loss in adults with obesity or overweight and comorbidities.
Gulf Marine Services lifts profit outlook for 2025
Gulf Marine Services has revealed that 2024 profits are likely to be at the upper end of guidance and pointed to further growth in 2025 on the back of strong demand for its vessels this year.
Omnicom in mega-merger talks with Interpublic - reports
Two of the biggest global advertising players, Omnicom and Interpublic, are in discussions over a $30bn merger that would create the world’s largest advertising group, it emerged on Monday.
Delivery Hero tumbles on change to Spanish worker conditions
Delivery Hero's shares tumbled on Monday morning, after the company announced a major operational shift for its Spanish subsidiary Glovo.
Argent BioPharma to delist from London Stock Exchange
Drug discovery company Argent BioPharma announced its intention to delist its ordinary shares from the London Stock Exchange on Friday.
Supermarket loyalty pricing not disadvantaging consumers - CMA
The Competition and Markets Authority (CMA) published its findings on loyalty pricing in the UK grocery sector on Wednesday, concluding that such practices were not creating unfair disadvantages after a nearly year-long review.
CMA says Apple's browser policies hinder innovation
The Competition and Markets Authority (CMA) announced on Friday that it has provisionally found that Apple’s policies on mobile browsers hinder innovation, impacting UK businesses and millions of users.
Nestle takes wraps off CHF 2.5bn cost-cutting plan
Nestlé unveiled an ambitious cost-cutting initiative and reduced its profit outlook on Tuesday, as new chief executive Laurent Freixe charted a turnaround strategy for the world’s largest food company.
Thyssenkrupp writes down EUR 1bn from steel business
Thyssenkrupp announced a €1bn writedown on its steel division on Tuesday, as the company navigated a costly transition to low-carbon production.
Shein planning £50bn London listing early next year - reports
Singapore-domiciled Chinese fast fashion giant Shein is preparing for a highly anticipated initial public offering on the London Stock Exchange in early 2025, it was reported on Monday, targeting a valuation of £50bn.
EU fines Meta EUR 798m over Facebook Marketplace competition concerns
The European Union has imposed a €797. 72m fine on Facebook’s parent company Meta Platforms, it emerged on Thursday, after a detailed investigation into its Marketplace online classifieds business.
Data centre surge drives growth for Siemens
Siemens reported significant gains in the past year on Thursday, driven by robust demand in energy and electrification sectors, despite ongoing challenges in its business divisions.
BioNTech to acquire China's Biotheus in $800m deal
German biotechnology company BioNTech announced the $800m acquisition of Chinese biotech firm Biotheus on Wednesday, in a bid to further strengthen its oncology pipeline.
UniCredit, Commerzbank deliver contrasting quarters amid tie-up chatter
Italian bank UniCredit and Germany’s Commerzbank delivered contrasting third-quarter earnings on Wednesday as UniCredit pursued an increased stake in Commerzbank, potentially setting the stage for one of Europe’s largest banking mergers in over a decade.
Hugo Boss reaffirms 2024 guidance, Asia challenges linger
Hugo Boss reaffirmed its full-year guidance for 2024 after reporting modest revenue growth in the third quarter, with a 1% increase year-to-date, although challenges in the luxury market meant it was unlikely to meet its 2025 targets.
Vestas Wind Systems shares tumble on Q3 profit miss
Shares in Vestas Wind Systems were tumbling on Tuesday, after it reported third-quarter revenue of €5. 2bn, up 18. 9% increase year-on-year, with a core operating profit of €235m, far short of the expected €352m.
CMC Markets enters partnership with New Zealand's ASB
CMC Markets announced a strategic partnership with New Zealand bank ASB on Friday, marking a significant expansion into the Australia-New Zealand region.
BNP Paribas net income grows as core business faces challenges
BNP Paribas shares were in the red on Thursday morning, after it reported third-quarter net income of €2. 87bn, marking a 5. 9% year-on-year increase, amid challenges in its core lending business and a mixed performance from investment banking.
Royal Caribbean posts solid third quarter but more cautious outlook
Shares in Miami-based cruise operator Royal Caribbean were sliding in early trading on Tuesday, even after it reported adjusted third-quarter earnings per share of $5. 20, surpassing analyst expectations of $5. 04.