By Sruthi Shankar and Johann M Cherian (Reuters) -UK’s blue-chip FTSE 100 index closed lower on Thursday following a three-day run of gains as Burberry tumbled after it said it would struggle to meet revenue targets if a slowdown in luxury spending continued. Burberry’s sank 11.1%, its biggest one-day percentage loss since September 2012, and …
MADRID (Reuters) – Spain’s second-largest oil company Cepsa said on Thursday its third quarter net profit rose 50% thanks to soaring oil and refined product prices. “Cepsa’s three main businesses had a strong performance during the third quarter of the year, on the back of a supportive market environment with higher crude prices and enhanced …
Cepsa’s third quarter net profit rises 50% on higher fuel prices Read More »
By Paul Sandle LONDON (Reuters) -Burberry will struggle to meet its annual revenue forecast of low double-digit growth after a global slowdown in luxury spending, the British company said on Thursday. The company, which launched the first collection by designer Daniel Lee in September, reported a sharp slowdown in comparable store sales growth in its …
Britain’s Burberry bruised by slowdown in luxury spending Read More »
ZURICH (Reuters) – EFG International shares were up 3% early on Thursday after the Swiss private bank reported net profit of more than 240 million Swiss francs ($270.09 million) for the first 10 months of the year and expanded its share buyback program. EFG reported 5.2 billion Swiss francs in net new assets for the …
EFG shares jump 3% following record profitability Read More »
(Reuters) – Spanish train maker Talgo said on Thursday an unidentified Hungarian business group made a preliminary offer to buy all its shares. The group would offer to pay 5 euros ($5.42) per share, Talgo said in a filing to the stock market regulator, which represents a 28% premium over its closing share price on …
Spanish train maker Talgo receives preliminary offer from Hungarian group Read More »
LONDON (Reuters) – Consultancy firm Mercer has completed a 2 billion pound ($2.48 billion) so-called longevity swap to insure against longer than expected payouts to 14,500 members of the MMC UK Pension Fund. Mercer, part of risk and strategy services company Marsh McLennan, said the move to hedge against the risk of defined benefit (DB) …
Mercer completes $2.5 billion longevity hedge for pension fund Read More »
By Yadarisa Shabong (Reuters) – Royal Mail owner International Distributions Services expects the group’s full-year adjusted operating performance will be around breakeven, after previously predicting a profit. It said, however, it expected to pay a modest dividend generated by its international parcels unit GLS, without specifying the amount, after paying no dividend last year. Shares …
Royal Mail parent IDS to deliver breakeven and small dividend Read More »
(Reuters) – Europe’s benchmark index slipped on Thursday, after a three-day run, as optimism around a peak in policy tightening and eventual rate cuts stemming from softening inflation across major economies took a backseat. The pan-European STOXX 600 fell 0.2% lower by 0810 GMT after gaining 2.5% over the past three days and scaling a …
European shares edge lower after recent gains; HelloFresh tanks Read More »
By Tim Hepher, Alexander Cornwell and Pesha Magid DUBAI (Reuters) -Airbus and Emirates edged towards a consolation deal for fewer than 20 A350-900 jets on Thursday after a public row between the carrier and engine maker Rolls-Royce over a larger model dampened the end of the Dubai Airshow. Industry sources said the two sides were …
Airbus nears compromise deal after Emirates jet order row Read More »
MILAN (Reuters) – Burberry shares fell 10% at the open on Thursday after saying its business was being hit by a global slowdown in luxury spending and cautioning it might not meet its annual revenue forecast of low double-digit growth. Jefferies analysts said the report from Burberry brought a downbeat luxury reporting season to a …
Burberry shares slump 10% as slowdown in luxury spending bites Read More »
