Reuters UK Business

By Francesca Landini MILAN (Reuters) -U.S. fund KKR is buying a 25% stake in Italian energy group Eni’s biofuel business Enilive, in a deal that values the unit at 11.75 billion euros ($12.7 billion) including debt. KKR’s 2.94 billion euro purchase improves Eni’s financial position while ensuring it retains control of Enilive, the Italian company …

KKR to take 25% stake in Eni biofuel unit, valuing it at $13 billion Read More »

By Iain Withers LONDON (Reuters) – Abrdn reported deeper than expected outflows of client funds in the third quarter, sending its shares down 8% and underlining the challenges facing new CEO Jason Windsor as he tries to revive the British fund manager’s fortunes. The 3.1 billion pounds ($4 billion) of net outflows were half the …

Fund manager Abrdn’s shares plunge on deeper than expected outflows Read More »

By Anna Peverieri (Reuters) -French software company Dassault Systemes cut its 2024 revenue growth forecast for the second time in four months on Thursday, citing the slowdown in the global automotive industry. The group, which sells its software to carmakers, aircraft manufacturers and industrial companies, now sees 2024 total revenue growth in the range of …

Software firm Dassault Systemes cuts 2024 forecast again on auto sector slowdown Read More »

By Alessandro Parodi (Reuters) -Telecom operator Telia slightly raised its profit outlook for 2024 on Thursday, and cited a newly launched cost-cutting overhaul, sending shares up over 3% in early trade. The Swedish-listed group that provides telecom services and operates TV channels in the Nordic and Baltic region last month presented a plan to achieve …

Telia raises 2024 profit outlook as it rolls out restructuring plan Read More »

(Reuters) -Britain’s largest buildings materials supplier Travis Perkins lowered its annual profit outlook for the second time in three months on Thursday amid weakness in its merchanting business, sending its shares lower. Shares in the FTSE 250 firm, which had already declined more than 11% this year, fell as much as 7.3% to 855 pence …

Britain’s Travis Perkins lowers 2024 profit outlook again Read More »

By Jesus Calero (Reuters) -Norwegian aluminium producer Norsk Hydro reported a slightly bigger-than-expected rise in its third-quarter core profit on Thursday, supported by higher aluminium and alumina prices, lower raw material costs and positive currency effects. Aluminium makers like Norsk Hydro are well positioned for growth fuelled by rising demand for low-carbon products and elevated …

Norsk Hydro core profit rises slightly more than expected Read More »

PARIS (Reuters) -Shares in Gucci-owner Kering rose on Thursday, shrugging off the French luxury goods company’s warning that 2024 operating income would almost halve to its lowest in years due to weak demand in China. Kering shares were up 0.5% at 0729 GMT, after positive results from rival Hermes helped lift the broader luxury sector. …

Kering shares up, shrugging off 2024 operating profit warning Read More »

By Agata Rybska (Reuters) -Swedish hygiene products maker Essity reported a decline in third-quarter core earnings – one in line with expectations – but added that sales volumes and market share had increased and it had maintained “good price discipline”. Its shares climbed 2% in morning trade. The maker of Tempo tissues and Libresse feminine …

Tissue maker Essity books small profit decline though sales volumes, market share gain Read More »

By Niklas Pollard STOCKHOLM (Reuters) -Swedish bank SEB reported a bigger than expected slide in third-quarter interest income on Thursday as falling central bank rates took a toll, taking the shine off a net profit beat due to trading income and sending its shares lower. SEB reported interest income, which includes revenues from mortgages, of …

Swedish bank SEB hit by drop in interest income Read More »