Market Pulse - Europe
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.
Adidas upbeat after solid third quarter
Adidas reported robust third-quarter earnings on Tuesday, with 10% currency-neutral revenue growth driven by the underlying brand, which rose 14%.
Weaker sales of key drugs leads to mixed quarter for Novartis
Novartis reported a mixed third quarter on Tuesday, as the pharmaceutical giant lifted its profit outlook for the year but faced disappointing sales in key areas.
Volkswagen to shutter three factories, lay off thousands of staff
German automotive giant Volkswagen will close the doors on at least three factories as it looks to potentially lay off tens of thousands of employees.
Philips lowers sales outlook amid China weakness
Philips reported flat comparable sales of €4. 4bn for its third quarter on Monday, as the Dutch medical devices maker faced a significant decline in demand from China.
Sanofi beats expectations with bumper third-quarter earnings
Sanofi reported stronger-than-expected third-quarter earnings on Friday, driven by early vaccine sales and robust performance from its anti-inflammatory drug Dupixent.
Eni expands share buybacks after better-than-expected third quarter
Italian energy major Eni announced an increase to its 2024 share buyback programme on Friday, after stronger-than-expected third-quarter profits driven by higher production and strategic portfolio improvements.
Renault maintains guidance after third quarter growth
Renault Group reported a 1. 8% rise in third-quarter revenue on Thursday, to €10. 7bn, surpassing analyst forecasts, driven by strong demand for new models like the Symbioz and Dacia Duster hybrid SUV.
Deutsche Bank swings back to profits in third quarter
Deutsche Bank returned to profitability in the third quarter, it emerged on Wednesday, as it reported a net profit of €1. 46bn, surpassing analyst expectations of €1. 05bn.
FCA fines VW Finance £5.4m for unfair customer treatment
The Financial Conduct Authority (FCA) has fined Volkswagen Financial Services UK £5. 4m for failing to treat customers in financial difficulty fairly, it announced on Monday.
London pre-open: FTSE 100 called higher, UK CPI and Trump in focus
Stock futures were pointing to a slightly higher start for London's top-flight index on Wednesday following the release of a weaker-than-expected reading on UK inflation.
Ericsson posts stronger-than-expected third quarter
Ericsson posted stronger-than-expected third-quarter results on Tuesday, driven by a major contract with AT&T and solid growth in North America, despite facing a challenging global telecom market.
Eurozone industrial production rebounds in August
Eurozone industrial production posted a robust 1. 8% month-on-month increase in August, marking a significant rebound from the 0. 5% contraction in July, according to fresh data from Eurostat.
German inflation cools to 1.6pc in September
German inflation fell to 1. 6% in September, according to the Federal Statistical Office, down from August's 1. 9% print and in line with preliminary expectations.
German government now projecting a second year of GDP contraction
Germany’s economy is set to contract by 0. 2% in 2024, marking the second consecutive year of shrinking output, according to a statement from the country’s economy ministry on Wednesday.
Sirius Real Estate rent roll grows in first half
Germany and UK-focussed business park owner and operator Sirius Real Estate reported a 5. 5% like-for-like increase in rent roll for the six months ended 30 September on Monday.
Europe close: Stocks rise on bumper US jobs report
European shares posted gains on Friday as investors reacted positively to a better-than-expected US payrolls report,while oil prices continued to rise on fears of further escalation in Middle East tensions.
Shein planning investor roadshows ahead of London IPO - reports
Chinese-founded online retailer Shein is preparing for a potential initial public offering (IPO) in London, it emerged on Friday, with investor roadshows expected in the coming weeks, according to a report from Reuters.
Maersk among Friday's fallers as US port strike called off
Shares in shipping firms were in the red on Friday, with Maersk particularly affected, following the resolution of a US port strike that had initially raised hopes for a boost in global shipping demand for European operators.