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Portugal’s Novo Banco sticks to IPO plan despite market volatility

6 May 2025

LISBON (Reuters) -Portugal’s fourth-largest lender Novo Banco plans to go ahead with an initial public offering (IPO) possibly in June or September despite market volatility caused by global trade tensions, Chief Executive Mark Bourke told Reuters on Tuesday. The unlisted lender, which is 75% owned by U.S. private equity fund Lone Star, in February began …

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Piraeus Bank posts higher Q1 profit, sees minor impact from US tariffs

6 May 2025

By Lefteris Papadimas ATHENS (Reuters) – Greece’s Piraeus Bank reported higher quarterly net earnings on Tuesday on strong fee income and said it does not expect a significant impact from U.S. tariffs. Greek banks are benefiting as the country’s economy rebounds from a decade-long debt crisis. It expanded by 2.3% last year on strong tourism …

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UK services sector contracts at steepest pace since 2023, PMI shows

6 May 2025

LONDON (Reuters) -Britain’s services sector, accounting for much of the economy, shrank in April for the first time since October 2023 and at the fastest pace in more than two years, according to a survey that showed U.S. tariff turmoil is hammering exports and sentiment. The S&P Global UK Services Purchasing Managers Index dropped to …

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Dialysis firm FMC tops market expectations in 1st quarter

6 May 2025

By Isabel Demetz (Reuters) -World’s largest dialysis specialist Fresenius Medical Care’s first-quarter results beat market expectations across the board on Tuesday, sending its shares 5% higher, as revenue grew organically in all its segments. While patient treatment in the U.S. took a hit from missed appointments in February due to high numbers of flu and …

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Germany’s Uniper recoups more claims against Russia’s Gazprom

6 May 2025

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Uniper recouped more of its claims against former main gas supplier Gazprom during the first quarter, the German utility said on Tuesday, in the latest update on the two groups’ ongoing legal dispute. The news comes as the European Union is expected to publish plans later in …

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Chemical maker Covestro cuts 2025 profit forecast, plans more local production

6 May 2025

By Patricia Weiss and Bartosz Dabrowski (Reuters) -Germany’s Covestro on Tuesday cut its 2025 core profit expectations and said it would implement its strategy of production in the same region that it sells, as higher U.S. tariffs threaten to erode the chemical maker’s earnings. The company narrowed the range of its expected 2025 earnings before …

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EU should quadruple semiconductor spending, industry group says

6 May 2025

By Nathan Vifflin AMSTERDAM (Reuters) -The European Union should quadruple its spending on chips and allocate a separate budget for it, industry group SEMI said on Tuesday in its official response to EU consultations for its upcoming investment budget. European lawmakers and industry groups are gathering momentum for a “Chips Act 2.0”, pushing to quickly …

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Argentex secures fresh credit facility and revamps board as trading resumes

6 May 2025

LONDON (Reuters) -Argentex Group resumed trading on London’s AIM on Tuesday after securing an initial six month 20 million pound ($26.57 million) revolving credit facility with IFX Payments, the UK currency risk manager said in a statement. Argentex’s shares had been suspended from trading since April 22 following sharp falls in the U.S. dollar that …

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