MILAN (Reuters) – Italian residents’ deposits with domestic banks fell in June, hitting their lowest level in over three years, Bank of Italy data showed on Wednesday, as savers sought higher returns for their cash eroded by rising inflation and interest rates. On a monthly basis, deposits in euros fell by nearly 170 billion euros …
Italian banks see deposits plunge in June, bond sales up Read More »
(Reuters) -French special purpose acquisition company (SPAC) eureKING on Wednesday said it would acquire full ownership of SCTbio with a view to creating a new biotech company, which will be listed in Paris. eureKING said it will pay around 13.08 million euros ($14.35 million) for 67% of the share capital, on a fully diluted basis, …
eureKING to buy SCTbio, plans Paris-listed biotech firm Read More »
By Radhika Anilkumar (Reuters) -Coca-Cola HBC lifted its annual revenue forecast on Wednesday as the bottler benefited from higher prices despite a dip in first-half organic volumes and currency headwinds in key market Nigeria. The Switzerland-based company has carried out the majority of planned price rises across its regions, but does not rule out adjustments …
COPENHAGEN (Reuters) -The world’s leading turbine maker Vestas on Wednesday said it aims to turn a profit this year, despite a bigger than expected second quarter adjusted loss and its expectation supply chain disruptions would continue for the rest of 2023. The Danish-listed company is struggling to deliver a backlog of projects from pandemic-hit years …
Vestas hopes to turn a profit this year despite Q2 loss Read More »
BERLIN (Reuters) -Continental lowered its tyre sales outlook on Wednesday but kept its margin outlook unchanged as higher pricing and a focus on premium products boosted second quarter revenue. The autos supplier expects tyres sales of 14-15 billion euros ($31.82 billion) from 14.5-15.5 billion previously, citing a declining market for tyre replacement in Europe and …
Continental bets on higher pricing as tyre replacement flat Read More »
By Joanna Plucinska and Ilona Wissenbach LONDON (Reuters) -Tour group TUI reported its first post-pandemic net profit on Wednesday on the back of robust bookings and travel demand in the three months to the end of June, but said extreme weather and wildfires were set to impact its full-year earnings. Airlines have reported strong results …
Strong travel demand helps TUI swing back to profit, wildfires to hit earnings Read More »
By Matteo Allievi and Jagoda Darlak (Reuters) – German chemicals distributor Brenntag on Wednesday forecast 2023 core earnings in the bottom half of its previous guidance range amid persistently low demand. The group now expects full-year operating earnings before interest, taxation, depreciation and amortization (EBITDA) of 1.6-1.7 billion euros ($1.8-1.9 billion), versus 1.6-1.8 billion euros …
Brenntag sees 2023 core profit in lower half of guidance Read More »
By Carolyn Cohn LONDON (Reuters) -Lloyd’s of London insurer Hiscox posted a sharp rise in pretax profit on rising premium rates, but its shares fell on Wednesday as analysts focused on a disappointing retail outlook. Commercial insurers who have faced hefty claims in recent years relating to hurricanes and wildfires, the COVID-19 pandemic and war …
Lloyd’s of London insurer Hiscox profit spikes on premium rise Read More »
ROME (Reuters) -Italian banking stocks rose in early trade, regaining some of the ground lost after the government late on Tuesday announced a cap on a windfall tax for the country’s lenders. Intesa Sanpaolo, Banco BPM and UniCredit were up by between 1.7% and 2.5% as of 0730 GMT, while Finecobank was the best performer …
Italy banks stocks regain ground as cap set on windfall tax Read More »
COPENHAGEN (Reuters) – Novozymes trimmed its full-year sales guidance on Wednesday after the Danish industrial enzymes maker reported a larger-than-expected fall in second-quarter profit. The company, which makes enzymes used in household products, food and beverages, and biofuels, said it was being affected by lower demand and destocking in the food and drinks sector and …
Enzymes maker Novozymes trims sales outlook after Q2 profit miss Read More »
