By Khushi Singh and Amruta Khandekar (Reuters) -European shares touched new record highs on Wednesday, boosted by upbeat corporate updates from the retail and utilities sector though the advance was limited by losses in automakers. The pan-European STOXX 600 ended up 0.2%. The index earlier in the session hit an all-time high for the fifth …
European shares scale new record high, retailers pop Read More »
By Miranda Murray and Nick Carey BERLIN (Reuters) -Volkswagen expects a 3% rise in its car sales this year, down sharply from 2023 amid a gloomy economic outlook and growing competition. Presenting the German automaker’s 2023 results, finance chief Arno Antlitz said the “general economic situation remains challenging,” but added “we are confident about 2024, …
Volkswagen sees slowdown in car sales growth in tough market Read More »
By Helen Reid HERZOGENAURACH, Germany (Reuters) -German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. battle high inventories. Adidas has been battling to right itself after it cut ties with Kanye West in …
Adidas posts first loss in 30 years and warns on US Read More »
By Corina Pons MADRID (Reuters) -Zara-owner Inditex’s sales jumped 11% at constant currencies in the first half of its spring season, boosted by upmarket fashions and continuing the strong momentum that saw its 2023 sales growth top that of rival H&M. Shares in the world’s biggest fashion retailer rose as much as 4.4% to a …
Zara-owner Inditex gets spring season boost from upmarket fashion Read More »
MILAN (Reuters) – It would be “disappointing” if the strict criteria UniCredit has set for considering potential acquisitions prevented the Italian bank from deploying at least part of its ample excess capital in this way, its chief executive said. “My view is that at some point you need to build the business, so M&A at …
UniCredit CEO confident excess capital can be used for M&A Read More »
LONDON (Reuters) – Britain opened books for the syndicated sale of a new index-linked bond maturing in November 2054 on Wednesday, bookrunners on the transaction said. The initial price guidance for the 1.25% 2054 gilt is for it to yield 1.5-2.0 basis points more than the 1.25% November 2055 index-linked gilt, which is the benchmark. …
UK opens books on new 30-year inflation-linked bond Read More »
(Reuters) -Citigroup said it expects the Bank of England (BoE) to start lowering interest rates this year, with the first cut expected in June, compared to a prior expectation of cuts beginning in August. “A combination of stubbornly weak activity, a further softening in labour market indicators, alongside in-line wage and services inflation numbers will …
Citigroup expects BoE rate cuts from June, not August Read More »
By Eva Mathews (Reuters) -Metro Bank posted a smaller annual loss on Wednesday and set out plans for further cost cuts as it looks to rebound from a year that saw deposit outflows require it to seek a hefty capital injection. Launched in 2010 to challenge the dominance of Britain’s big banks, Metro struck a …
Metro Bank posts smaller loss and braces for more cost cuts Read More »
JERUSALEM (Reuters) – A $2 billion offer by Abu Dhabi’s national oil company and BP to acquire a 50% stake in Israeli gas producer NewMed has been put on hold due to uncertainty in the region, NewMed said on Wednesday. NewMed said all parties agreed to pause negotiations, although Abu Dhabi National Oil Co (ADNOC) …
Israel’s NewMed says BP, ADNOC buy-in offer on hold Read More »
By Christoph Steitz and Tom Käckenhoff ESSEN, Germany (Reuters) – E.ON, Europe’s biggest operator of energy networks, on Wednesday raised its five-year investment target to 42 billion euros ($46 billion), saying the continent required major grid expansion to make the transition to clean energy sources. E.ON’s shares rose 6.1% to their highest level in nearly …
E.ON raises investments to $46 billion, shares near 6-week high Read More »
