Inditex said gross margins are expected to be higher in fiscal 2023 because of robust operating performance. Entain, the UK-based online gambling site operator, said its chief executive resigned.
Renault plans to lower its stake in Nissan and participate in the company's stock repurchase program. Hannover Re said annual earnings are likely to be higher. Carl Zeiss Meditec's annual sales were ahead of expectations.
Schibsted ASA agreed to sell its media assets to its largest shareholder. Sandvik AB won an order from a mining equipment company in Sweden. Domino's Pizza reiterated its fiscal 2023 guidance.
Anglo American Group announced production cuts and trimmed capital expenditures to improve unit costs. Monk Investment said losses in the first half narrowed. Vivendi was selected to replace Worldline in the CAC 40 index.
European airlines were under pressure after JP Morgan lowered its view on stocks, citing rising capacity at large carriers. Sanofi said it has several drugs in the development stage with significant revenue potential.
TUI said operating profit in the fiscal year 2023 more than doubled, and the tour operator estimated strong gains in the fiscal year 2024. British American Tobacco reiterated its full-year earnings per share outlook.
Nokia plunged after AT&T decided to upgrade its telecom network equipment developed by its rival Ericsson. Spotify said it plans to carry out additional payroll cuts and lower its operating costs.
Luxury stocks advanced on the hopes of demand growth in the U.S., offsetting the weakness in China. Energy stocks traded down following the weakness in crude oil prices. Mining stocks traded mixed after gold traded at a new high.
Bechtle, the German information technology company, announced a convertible bond offering. Swiss Re announced its new net income target based on IFRS accounting standards. The stock price of Swedish streaming company Viaplay plunged after it announced a debt restructuring plan.
European stocks advanced after consumer price inflation dropped to a multi-month low. Luxury stocks traded down on the ongoing economic rebound worries in China. Banks fell following lower bond yields.
Aviva agreed to acquire a vehicle insurance company in Canada. Rightmove reported better-than-expected financial results. Julius Baer disclosed a significant charge in its business loan segment.
Barclays was in focus after the UK-based bank was looking to cut costs and trim its payrolls. Luxury stocks were under pressure after one of the largest wealth management firms in China confirmed it was insolvent.
Chrysler-parent Stellantis completed the purchase of a stake held by China-based Dongfeng Motor, and it plans to cancel these shares. Jet2 reported a surge in interim results but said bookings are running slightly lower than a year ago.
Fresenius lifted its 2023 operating income outlook and entered into a positive settlement with the U.S. Department of Defense. Kingfisher lowered its profit outlook for the second time in three months. Casino Guichard estimated a loss in 2023 at its core French business.
Sonova lowered its annual core profit forecast. ICA Group, the parent company of British Air, reaffirmed its annual outlook. CRH agreed to acquire cement and concrete mix plants in Texas from Martin Marietta.
