Market Pulse - Europe
ShoreCap stays at 'buy' on AstraZeneca, sees further upgrades ahead on product pipeline
Analysts at ShoreCap reiterated their 'buy' recommendation for shares of drugs giant AstraZeneca, describing its second quarter top-line growth of 37% year-on-year at constant exchange rates "impressive".
Euro area CPI accelerates slightly in June
Euro area inflation edged past economists' forecasts during the second quarter pushed higher by the cost of food, alcohol and tobacco, as well as services.
London midday: Stocks push higher at month's end ahead of US inflation data
London stocks were pushing higher still into the end of the month as investors waited on a raft of inflation indicators in the US while digesting a very large and positive surprise on second quarter euro area gross domestic product.
London pre-open: Stocks set for slightly higher start amid earnings deluge
London's top-flight index was being called to start the session slightly higher as investors digested a raft of corporate earnings announcements.
BofA bumps up target price for Lloyds Banking Group citing gearing to higher rates
Analysts at Bank of America bumped up their target price for shares of Lloyds Banking Group, highlighting the lender's gearing to higher interest rates and earnings resilience to economic shocks.
Chip shortage, China lockdowns led to Q1 loss for Jaguar Land Rover
Jaguar Land Rover reported strong demand and a record order book in its first quarter on Wednesday, but said sales were still constrained by the global chip shortage.
Credit Suisse names new CEO as losses widen significantly
Credit Suisse named a new chief executive officer on Wednesday, as it reported a much deeper loss than was expected in the second quarter.
Europe close: Stocks fall back as natural gas futures leap
European stocks fell back on Tuesday as natural gas futures leaped higher on the back of Russia's announcement the day before of a further cut to its gas supplies to Germany, claiming maintenance issues.
Wednesday preview: US FOMC, British American Tobacco in the spotlight
All eyes on Wednesday will be on the results of the US Federal Open Market Committee's two-day meeting.
EU agrees gas rationing plans, but with exemptions
European Union members agreed to reduce their gas consumption on Tuesday in the face of increased gas rationing by Russia, albeit in a more watered-down fashion than that first proposed.
UBS falls short in 'uncertain' second quarter
UBS reported a disappointing second quarter on Tuesday, with a souring economic outlook hurting its wealth management and investment banking and resulting in earnings coming in short of expectations.
Natural gas futures jump as Gazprom cuts gas supplies through Nordstream 1 again
Gazprom will halt one of the two remaining turbines that power the Nordstream 1 gas pipeline's compressor station, in a move that is expected to further reduce volumes shipped to Germany.
Lufthansa ground staff to stage 'warning strike' on Wednesday
Ground handling staff at Lufthansa are set to stage a “warning strike” on Wednesday across all of the airline’s locations, as disagreements between around 20,000 workers and the German flag carrier in collective bargaining continued.
Philips slashes guidance as China lockdowns hit Q2 sales
Dutch technology conglomerate Philips reported a 7% fall in comparable group sales in its second quarter on Monday, to €4. 2bn (£3. 57bn), mainly caused by continued supply shortages and prolonged lockdowns in China, as it also cut its guidance for the year.
Wheat futures drop sharply after Kyiv and Moscow ink deal to restart grain exports
Wheat futures extended their recent declines after Russia and Ukraine penned an agreement to unblock exports of millions of tons of Ukrainian wheat through the latter's ports on the Black Sea.
Credit Suisse sees value in UK Banks, Lloyds remains 'top pick'
Analysts at Credit Suisse sounded a bullish note for UK banks, explaining to clients that they now expected upgrades to lenders' guidance for net interest margins and net interest income.
If you buy now you'll pay later, BofA says
A "credible bull market" will require equally credible interest rate cuts by the Federal Reserve once inflation has been "conquered", BofA Securities said.
HSBC sells Russian business to ExpoBank
HSBC has unloaded its Russian business shortly before Moscow announced that it would move to block foreign lenders divesting their operations in the country.
German government set to take 30pc stake in Uniper
Further details on the rescue plan for German energy firm Uniper were unveiled on Wednesday, with the federal government set to take a stake of 30% in the company.
Geographical scope of military operations will change if Kyiv gets long-range weaponry, Lavrov says
The geographical scope of Moscow's 'special military operation' will expand even further beyond the current front line if the West supplies Kyiv with long-range weaponry, Russia's foreign minister said.