By Mateusz Rabiega and Gianluca Lo Nostro (Reuters) -ING Groep missed third-quarter earnings forecasts on Thursday, but shares in the Dutch bank rebounded from early falls as it raised its annual outlook and announced 2.5 billion euro ($2.71 billion) payout plans. The distribution includes an up to 2 billion euro buy-back programme expected to be …
ING to distribute 2.5 billion euros of profits, lifts FY outlook Read More »
By Alessandro Parodi and Philippe LeroyBeaulieu (Reuters) – Prysmian is considering a dual listing in the United States and will make a decision in the next two months, its chief executive said on Thursday, as the consolidation of Encore Wire boosted the Italian cable maker’s quarterly profit. The Milan-listed company completed the acquisition of the …
Prysmian considers US listing as Encore consolidation lifts quarterly profit Read More »
ROME (Reuters) – Italian EU-harmonised consumer prices (HICP) rose a preliminary 0.3% month-on-month in October, with annual inflation accelerating to 1.0% from 0.7% in September, data showed on Thursday. The HICP year-on-year rate was above the median forecast of 0.8% in a Reuters survey of 11 analysts. The survey had forecast a monthly rise of …
Italy October EU-harmonised CPI accelerates to 1.0% y/y, above forecast Read More »
FRANKFURT (Reuters) – Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed. Inflation in the 20 countries sharing the euro currency accelerated to 2.0% from …
Euro zone inflation picks up, bolstering case for caution in rate cuts Read More »
By Marleen Kaesebier (Reuters) -Telecoms group Swisscom reported slightly lower nine-month revenue on Thursday as higher sales at its Italian subsidiary Fastweb and its IT services business failed to offset a drop in its core Swiss activities. Group revenue fell 0.4% to 8.17 billion Swiss francs ($9.44 billion) in the first nine months of the …
Swisscom’s 9-month revenue dips slightly as core Swiss business weighs Read More »
ROME (Reuters) – The European Central Bank must avoid the risk of cutting interest rates too slowly and lowering inflation excessively, Governing Council Member Fabio Panetta said on Thursday. In a speech at a banking conference in Rome, Italy’s central bank governor said euro zone monetary conditions remain restrictive and need to be eased further. …
ECB’s Panetta warns rate policy mustn’t push inflation too low Read More »
BERLIN (Reuters) – Germany’s cartel office has approved Porsche AG’s acquisition of a non-controlling interest in Varta as well as a majority of shares and sole control of the battery maker’s business unit for lithium-ion cells for electric cars. “Our merger control review was only concerned with whether the transaction would give rise to competition …
German cartel office approves Porsche’s sole control of Varta’s V4Drive Read More »
By Jesús Aguado MADRID (Reuters) -Weak results in BBVA’s top market of Mexico took the shine off a forecast-beating 26% rise in third-quarter group profit at Spain’s second-biggest lender on Thursday. The beat was driven by a strong performance in Spain, where BBVA is battling to buy smaller rival Sabadell. However, group lending income came …
Mexico weakness take shine off BBVA’s Q3 profit beat Read More »
By Rafal Wojciech Nowak GDANSK (Reuters) -Commerzbank’s Polish unit mBank expects costs of legal risk related to Swiss franc loans to largely subside by the end of 2025, Deputy CEO Marek Lusztyn said on Thursday. “With the maintenance of the jurisprudence line we currently see … we assume that the 2025 is the last year …
Poland’s mBank expects Swiss franc loan costs to largely subside by end-2025 Read More »
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Brewer Carlsberg is shifting some of its marketing focus to cheaper brands, it said on Thursday, as consumers in major markets bought cheaper beer and in reduced quantities. The maker of Kronenbourg 1664, Tuborg and Somersby said beer sales volumes fell by 1.3% in the third quarter, noting declines in …
Carlsberg shifts marketing focus as drinkers choose cheaper beer Read More »
