Market Update
Europe Movers: Aeroports de Paris, Allianz, Compass, Iveco, RTL, Siemens, ThyssenKrupp
Inga Muller
15 May, 2025
Frankfurt
Compass Group plc advanced 1.6% to 2,581 pence after the UK-based contract food services provider for airlines reported results for the six months ending in March.
Revenue edged up to $22.57 billion from $20.74 billion, profit jumped to $919 million from $861 million, and diluted earnings per share rose to 54.1 cents from 50.4 cents a year ago.
The company guided full-year operating profit to increase at a high single-digit percentage rate, driven by organic revenue growth above 7.5% and "ongoing margin progression."
Siemens AG dropped 2.9% to €217.65 after the German technology company reported second-quarter 2025 results.
Revenue increased 6% to €19.8 billion from €18.5 billion, net income jumped 11% to €2.4 billion from €2.2 billion, and earnings per share rose 10% to €3.00 from €2.73 a year ago.
Orders in the quarter climbed 9% to €21.6 billion, compared to €19.7 billion a year earlier, driven by strong growth in the mobility segment.
Siemens guided full-year revenue to increase between 3% and 7% from €75.9 billion a year earlier and earnings per share to be between €10.40 and €11.00, compared to €10.54 in 2024.
Allianz AG eased 3.2% to €340.50 after the German insurance and financial services company reported record operating profit in the first quarter but fell short of expectations.
Total business volume jumped 11.6% to €54.0 billion from €48.4 billion, net income declined 2.1% to €2.42 billion from €2.47 billion, and earnings per share rose 2.9% to €6.61 from €6.42 a year ago.
Shareholders’ core net income climbed 1.5% to €2.55 billion from €2.51 billion, and operating profit rose 6.3% to €4.24 billion from €3.99 billion a year earlier.
The financial services company guided full-year operating profit to reach €16.0 billion, with a band of €1 billion.
The company authorized a share buyback program of up to €2 billion, of which €0.1 billion was completed in the first quarter.
Aeroports de Paris SA traded up to €115.30 after the parent company of Paris airport released its traffic update for April 2025.
Group traffic was up 7.6% from a year ago to 30.6 million passengers, while Paris Aéroport handled 9.3 million passengers, an increase of 6% from April 2024.
Europe accounted for 45.9% of overall traffic in the month, the Schengen area had a 37.5% share, and Africa had a 14.2% share.
ThyssenKrupp AG plunged 9.4% to €8.55 after the German industrial engineering and steel production company reported sharply lower than expected earnings in the first half ending in March.
Sales declined 5% to €16.41 billion from €17.24 billion, net income swung to a profit of €104 million from a loss of €392 million, and earnings per share swung to a profit of 17 cents from a loss of 63 cents a year ago.
Orders received in the first half amounted to €20.56 billion, an increase of 24% from €16.55 billion a year earlier.
In the second quarter, sales dropped 5% to €8.58 billion from €9.06 billion, net income after tax swung to a profit of €155 million from a loss of €78 million, and earnings per share swung to a profit of 25 cents from a loss of 13 cents a year ago.
Orders received in the second quarter made up €8.08 billion, a decline of 6% from €8.58 billion in the prior year.
RTL Group SA traded up 0.5% to €32.30 after the Luxembourg-based media and streaming services provider reported first-quarter 2025 results.
Revenue was flat at €1.3 billion from a year ago, supported by an 18.5% increase in paying subscribers to 7.1 million.
Streaming revenue was up 29.1%, and digital advertising revenue was up 28.8%, offsetting the decrease in TV advertising.
The company reiterated its full-year estimate and expects adjusted EBITA to increase to around €780 million, compared to €721 million in 2024.
Revenue is expected to increase to around €6.45 billion, compared to €6.25 billion a year earlier, and the company intends to pay out dividends of at least 80% of its adjusted full-year net earnings.
Iveco Group NV plunged 4.8% to €15.44 after the Italy-based vehicle and powertrain manufacturer reported first-quarter 2025 results.
Revenue declined to €3.03 billion from €3.37 billion, profit rose to €38 million from €17 million, and diluted earnings per share jumped to 14 cents from 6 cents a year ago.
The sales decline was partially offset by strong bus deliveries in South America, up 48% from the prior year, and strong defense segment revenue growth of 30.5% to €278 million.
The company authorized the repurchase of up to 10 million common shares for a maximum of €130 million for a period of 18 months starting in April and paid a cash dividend of 33 cents per share on April 24, or a total of €90 million.
Europe Movers: Aeroports de Paris, Allianz, Compass, Iveco, RTL, Siemens, ThyssenKrupp
Inga Muller
15 May, 2025
Frankfurt
Compass Group plc advanced 1.6% to 2,581 pence after the UK-based contract food services provider for airlines reported results for the six months ending in March.
Revenue edged up to $22.57 billion from $20.74 billion, profit jumped to $919 million from $861 million, and diluted earnings per share rose to 54.1 cents from 50.4 cents a year ago.
The company guided full-year operating profit to increase at a high single-digit percentage rate, driven by organic revenue growth above 7.5% and "ongoing margin progression."
Siemens AG dropped 2.9% to €217.65 after the German technology company reported second-quarter 2025 results.
Revenue increased 6% to €19.8 billion from €18.5 billion, net income jumped 11% to €2.4 billion from €2.2 billion, and earnings per share rose 10% to €3.00 from €2.73 a year ago.
Orders in the quarter climbed 9% to €21.6 billion, compared to €19.7 billion a year earlier, driven by strong growth in the mobility segment.
Siemens guided full-year revenue to increase between 3% and 7% from €75.9 billion a year earlier and earnings per share to be between €10.40 and €11.00, compared to €10.54 in 2024.
Allianz AG eased 3.2% to €340.50 after the German insurance and financial services company reported record operating profit in the first quarter but fell short of expectations.
Total business volume jumped 11.6% to €54.0 billion from €48.4 billion, net income declined 2.1% to €2.42 billion from €2.47 billion, and earnings per share rose 2.9% to €6.61 from €6.42 a year ago.
Shareholders’ core net income climbed 1.5% to €2.55 billion from €2.51 billion a year earlier.
The financial services company guided full-year operating profit to reach €16.0 billion, with a band of €1 billion.
The company authorized a share buyback program of up to €2 billion, of which €0.1 billion was completed in the first quarter.
Aeroports de Paris SA traded up to €115.30 after the parent company of Paris airport released its traffic update for April 2025.
Group traffic was up 7.6% from a year ago to 30.6 million passengers, while Paris Aéroport handled 9.3 million passengers, an increase of 6% from April 2024.
Europe accounted for 45.9% of overall traffic in the month, the Schengen area had a 37.5% share, and Africa had a 14.2% share.
ThyssenKrupp AG plunged 9.4% to €8.55 after the German industrial engineering and steel production company reported sharply lower than expected earnings in the first half ending in March.
Sales declined 5% to €16.41 billion from €17.24 billion, net income swung to a profit of €104 million from a loss of €392 million, and earnings per share swung to a profit of 17 cents from a loss of 63 cents a year ago.
Orders received in the first half amounted to €20.56 billion, an increase of 24% from €16.55 billion a year earlier.
In the second quarter, sales dropped 5% to €8.58 billion from €9.06 billion, net income after tax swung to a profit of €155 million from a loss of €78 million, and earnings per share swung to a profit of 25 cents from a loss of 13 cents a year ago.
Orders received in the second quarter made up €8.08 billion, a decline of 6% from €8.58 billion in the prior year.
RTL Group SA traded up 0.5% to €32.30 after the Luxembourg-based media and streaming services provider reported first-quarter 2025 results.
Revenue was flat at €1.3 billion from a year ago, supported by an 18.5% increase in paying subscribers to 7.1 million.
Streaming revenue was up 29.1%, and digital advertising revenue was up 28.8%, offsetting the decrease in TV advertising.
The company reiterated its full-year estimate and expects adjusted EBITA to increase to around €780 million, compared to €721 million in 2024.
Revenue is expected to increase to around €6.45 billion, compared to €6.25 billion a year earlier, and the company intends to pay out dividends of at least 80% of its adjusted full-year net earnings.
Iveco Group NV plunged 4.8% to €15.44 after the Italy-based vehicle and powertrain manufacturer reported first-quarter 2025 results.
Revenue declined to €3.03 billion from €3.37 billion, profit rose to €38 million from €17 million, and diluted earnings per share jumped to 14 cents from 6 cents a year ago.
The sales decline was partially offset by strong bus deliveries in South America, up 48% from the prior year, and strong defense segment revenue growth of 30.5% to €278 million.
The company authorized the repurchase of up to 10 million common shares for a maximum of €130 million for a period of 18 months starting in April and paid a cash dividend of 33 cents per share on April 24, or a total of €90 million.
U.S. Movers: Boot Barn, Cisco Systems
Scott Peters
15 May, 2025
New York City
Cisco Systems Inc. surged 2.7% to $62.92 after the networking company reported better-than-expected fiscal third-quarter results and lifted its outlook.
Revenue jumped to $14.15 billion from $12.70 billion, net income climbed to $2.49 billion from $1.89 billion, and diluted earnings per share rose to 62 cents from 46 cents a year ago.
Product orders were up 20% year over year, with growth across all geographies and customer markets.
The company guided fiscal fourth-quarter revenue to be between $14.5 billion and $14.7 billion, compared to $13.6 billion in 2024, and GAAP earnings per share between 62 cents and 67 cents, compared to 54 cents a year earlier.
For the full year, the company estimated revenue to be between $56.5 billion and $56.7 billion, compared to $53.8 billion in 2024, and GAAP earnings per share between $2.53 and $2.58, compared to $2.54 a year ago.
Cisco returned $3.1 billion to shareholders in the third quarter through share buybacks and dividends, and $15.4 billion remained under repurchase authorization with no termination date.
The company acquired SnapAttack, a privately held company that offers a threat detection and engineering platform.
Boot Barn Holdings Inc. soared 17.4% to $156.00 after the western and work-related footwear and apparel retailer reported fourth-quarter 2025 results.
Net sales surged to $453.75 million from $388.46 million, net income edged up to $37.54 million from $29.44 million, and diluted earnings per share rose to $1.22 from 96 cents a year ago.
Same-store sales in the quarter increased 6%, with retail same-store sales growing 5.5% and comparable e-commerce sales climbing 9.8% from a year earlier.
The company has authorized the repurchase of up to $200 million of its own stock.
The footwear and apparel retailer said it plans to open between 65 and 70 new stores during the fiscal year 2026 and estimated total sales to be between $2.07 billion and $2.15 billion, an increase of 8% to 13% from $1.91 billion over the previous year.
The company estimated fiscal 2026 net income between $169 million and $197 million, compared to $180.94 million, and diluted earnings per share between $5.50 and $6.40, compared to $5.88 a year earlier, respectively.
For the fiscal first quarter, the company guided sales to be between $483 million and $491 million, an increase of 14% to 16% from $423.4 million, and diluted earnings per share between $1.44 and $1.52, compared to $1.26 a year ago, respectively.
U.S. Movers: Boot Barn, Cisco Systems
Scott Peters
15 May, 2025
New York City
Cisco Systems Inc. surged 2.7% to $62.92 after the networking company reported better-than-expected fiscal third quarter results and lifted its outlook.
Revenue jumped to $14.15 billion from $12.70 billion, net income climbed to $2.49 billion from $1.89 billion, and diluted earnings per share rose to 62 cents from 46 cents a year ago.
Product orders were up 20% year over year, with growth across all geographies and customer markets.
The company guided fiscal fourth-quarter revenue to be between $14.5 billion and $14.7 billion, compared to $13.6 billion in 2024, and GAAP earnings per share between 62 cents and 67 cents, compared to 54 cents a year earlier.
For the full year, the company estimated revenue to be between $56.5 billion and $56.7 billion, compared to $53.8 billion in 2024, and GAAP earnings per share between $2.53 and $2.58, compared to $2.54 a year ago.
Cisco returned $3.1 billion to shareholders in the third quarter through share buybacks and dividends, and $15.4 billion remained under repurchase authorization with no termination date.
The company acquired SnapAttack, a privately held company that offers a threat detection and engineering platform.
Boot Barn Holdings Inc. soared 17.4% to $156.00 after the western and work-related footwear and apparel retailer reported fourth-quarter 2025 results.
Net sales surged to $453.75 million from $388.46 million, net income edged up to $37.54 million from $29.44 million, and diluted earnings per share rose to $1.22 from 96 cents a year ago.
Same-store sales in the quarter increased 6%, with retail same-store sales growing 5.5% and comparable e-commerce sales climbing 9.8% from a year earlier.
The company has authorized the repurchase of up to $200 million of its own stock.
The footwear and apparel retailer said it plans to open between 65 and 70 new stores during the fiscal year 2026 and estimated total sales to be between $2.07 billion and $2.15 billion, an increase of 8% to 13% from $1.91 billion over the previous year.
Net income is estimated to be between $169 million and $197 million, compared to $180.94 million in 2024, and diluted earnings per share between $5.50 and $6.40, compared to $5.88 a year earlier.
For the first quarter, the company guided sales to be between $483 million and $491 million, an increase of 14% to 16% from $423.4 million a year ago, and diluted earnings per share between $1.44 and $1.52, compared to $1.26 in the same quarter the previous year.
Japanese Companies Face Billions In Additional Costs Because of Trump Tariffs
Akira Ito
15 May, 2025
Tokyo
Japan stock market indexes extended losses for the second consecutive day as enthusiasm surrounding the US-China trade deal faded.
The Nikkei 225 Stock Average fell nearly 1%, and the Topix index declined 0.8% as investors remained cautious in the midst of earnings season.
Tokyo market sentiment was weak, and Japanese trade negotiators hope to finalize an agreement with the U.S. before the June deadline.
Investors are lowering earnings outlooks for Japanese exporters following announcements from several leading exporters.
Sony Group said tariffs are expected to lower its earnings by $700 million, Subaru estimated a tariff hit of $2.5 billion, and a week ago Toyota estimated a 21% decline in profit in the current year.
Japan Indexes and Stocks
The Nikkei 225 Stock Average dropped 0.9% to 37,796.07, and the broader Topix index declined 0.8% to 2,740.58.
Sony Group Corp. dropped 2.9% to ¥3,676.0 after the electronic product maker estimated a tariff-related hit of $700 million.
Toyota Motor declined 3.4% to ¥2,656.50 amid worries that the company's profit could take a larger-than-announced hit in the current financial year.
Last week, the automobile maker announced that its operating earnings are estimated to fall 21% in the current financial year ending in March, largely because of the U.S. tariffs.
Last week the U.S. extended 25% tariffs on automobile imports to parts, and the company estimated that its operating earnings are expected to take a hit of $1.3 billion in April and May alone.
Toyota sells about 2.3 million vehicles in the U.S., and about 500,000 units are imported directly from Japan.
Despite the ongoing increases in tariff-related expenses, the automaker estimated its U.S. sales to expand by 237,000 in the current fiscal year.
Japanese Companies Face Billions In Additional Costs Because of Trump Tariffs
Akira Ito
15 May, 2025
Tokyo
Japan stock market indexes extended losses for the second consecutive day as enthusiasm surrounding the US-China trade deal faded.
The Nikkei 225 Stock Average fell nearly 1%, and the Topix index declined 0.8% as investors remained cautious in the midst of earnings season.
Tokyo market sentiment was weak, and Japanese trade negotiators hope to finalize an agreement with the U.S. before the June deadline.
Investors are lowering earnings outlooks for Japanese exporters following announcements from several leading exporters.
Sony Group said tariffs are expected to lower its earnings by $700 million, Subaru estimated a tariff hit of $2.5 billion, and a week ago Toyota estimated a 21% decline in profit in the current year.
Japan Indexes and Stocks
The Nikkei 225 Stock Average dropped 0.9% to 37,796.07, and the broader Topix index declined 0.8% to 2,740.58.
Sony Group Corp. dropped 2.9% to ¥3,676.0 after the electronic product maker estimated a tariff-related hit of $700 million.
Toyota Motor declined 3.4% to ¥2,656.50 amid worries that the company's profit could take a larger-than-announced hit in the current financial year.
Last week, the automobile maker announced that its operating earnings are estimated to fall 21% in the current financial year ending in March, largely because of the U.S. tariffs.
Last week the U.S. extended 25% tariffs on automobile imports to parts, and the company estimated that its operating earnings are expected to take a hit of $1.3 billion in April and May alone.
Toyota sells about 2.3 million vehicles in the U.S., and about 500,000 units are imported directly from Japan.
Despite the ongoing increases in tariff-related expenses, the automaker estimated its U.S. sales to expand by 237,000 in the current fiscal year.
China Markets Halt 5-Week Rally Amid Valuation and Earnings Growth Worries
Li Chen
15 May, 2025
Hong Kong
China and Hong Kong stock market indexes struggled to gain their footing on Thursday's trading as investors awaited quarterly results from tech companies.
Investors turned cautious after a five-week market rally drove indexes higher by 19% amid unresolved structural issues between the U.S. and China.
The rapid run-up in stock over the last weeks is worrying some investors, and mixed results from e-commerce leader JD.com also dented market sentiment.
Alibaba Group Holding is scheduled to release its quarterly results later today, and investors are hoping that the e-commerce company's results will surpass market expectations.
Beijing policymakers are less likely to announce additional stimulus measures to
China Indexes and Stocks
The Hang Seng index decreased 0.3% to 23,581.29, and the CSI 300 index dropped 0.6% to 3,919.65.
JD.com Inc. dropped 3.5% to HK $136.50 after the e-commerce company reported better-than-expected sales growth in the first quarter, but earnings fell short of market expectations.
Alibaba Group Holding Ltd. declined 0.3% ahead of the company's financial results later today.
Contemporary Amperex Technology Company declined 0.2% to ¥262.0 in Shanghai trading ahead of the company's public offering in Hong Kong.
The lithium-ion battery maker for electric vehicles is expected to price its $4.6 billion offering at the top end of its filing range at HK $263 per share.
China Markets Halt 5-Week Rally Amid Valuation and Earnings Growt
Li Chen
15 May, 2025
Hong Kong
China and Hong Kong stock market indexes struggled to gain their footing on Thursday's trading as investors awaited quarterly results from tech companies.
Investors turned cautious after a five-week market rally drove indexes higher by 19% amid unresolved structural issues between the U.S. and China.
The rapid run-up in stock over the last weeks is worrying some investors, and mixed results from e-commerce leader JD.com also dented market sentiment.
Alibaba Group Holding is scheduled to release its quarterly results later today, and investors are hoping that the e-commerce company's results will surpass market expectations.
Beijing policymakers are less likely to announce additional stimulus measures to
China Indexes and Stocks
The Hang Seng index decreased 0.3% to 23,581.29, and the CSI 300 index dropped 0.6% to 3,919.65.
JD.com Inc. dropped 3.5% to HK $136.50 after the e-commerce company reported better-than-expected sales growth in the first quarter, but earnings fell short of market expectations.
Alibaba Group Holding Ltd. declined 0.3% ahead of the company's financial results later today.
Contemporary Amperex Technology Company declined 0.2% to ¥262.0 in Shanghai trading ahead of the company's public offering in Hong Kong.
The lithium-ion battery maker for electric vehicles is expected to price its $4.6 billion offering at the top end of its filing range at HK $263 per share.
S&P 500 Turns Positive Amid US-China Trade Truce
Barry Adams
14 May, 2025
New York City
Wall Street indexes flatlined on Wednesday, and tech stocks halted a five-day rally.
The S&P 500 index edged up 0.01%, and the Nasdaq Composite advanced 0.02%, following positive market sentiment for the last five trading sessions.
Investors breathed a sigh of relief after the U.S. and China struck a deal to de-escalate trade tensions and trimmed down previously announced sky-high tariffs, but structural issues surrounding bilateral trade are still unresolved.
The U.S. rolled back tariffs on packages arriving from China to 54% from the previously announced 120%, and China removed its ban on the purchase of Boeing airplanes.
The latest measures are likely to improve sentiment on Wall Street, but the fact remains that China and the U.S. are far apart on tariffs.
Moreover, China has reduced its reliance on the U.S. markets by diversifying its manufacturing locations and accelerated its exports in other markets in the ASEAN region, the Middle East, and Latin America.
Trade uncertainty is likely to return in the weeks ahead, as China ramps up its agricultural imports from Brazil, Argentina, Peru, Thailand, and Vietnam.
But the U.S. companies have deepened their reliance on Chinese companies for consumer goods, electrical appliances, raw materials, and intermediate goods.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.1% to 5,891.24, the Nasdaq Composite edged up 0.3% to 19,075.17, and the Russell 2000 index declined 0.2% to 2,097.49.
The yield on 2-year Treasury notes edged higher to 4.02%, 10-year Treasury notes increased to 4.50%, and 30-year Treasury bonds advanced to 4.95%.
WTI crude oil decreased $0.43 to $63.24 a barrel, and natural gas prices edged lower by $0.11 to $3.54 a thermal unit.
Gold decreased by $70.45 to 3,184.97 an ounce, and silver edged down by $0.55 to $32.39.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.32 to 100.68 and traded at a two-year high.
U.S. Stock Movers
American Eagle Outfitters dropped 11.5% to $11.26 after the company withdrew its annual outlook, citing tariff uncertainties.
In addition, the apparel retailer released its preliminary quarterly results and reported a revenue decline of about 5% to $1.1 billion and an operating loss of $85 million.
Abercrombie & Fitch declined 2.3% to $79.52. Urban Outfitters fell 0.8% to $58.89, and GAP decreased 1% to $25.15.
NVIDIA Corp. soared 3.3% to $133.85, and Advanced Micro Devices jumped 3.6% to $116.50 after the two artificial intelligence-linked companies were deemed beneficiaries of a potential trade deal with Saudi Arabia.
S&P 500 Turns Positive Amid US-China Trade Truce
Barry Adams
14 May, 2025
New York City
Wall Street indexes flatlined on Wednesday, and tech stocks halted a five-day rally.
The S&P 500 index edged up 0.01%, and the Nasdaq Composite advanced 0.02%, following positive market sentiment for the last five trading sessions.
Investors breathed a sigh of relief after the U.S. and China struck a deal to de-escalate trade tensions and trimmed down previously announced sky-high tariffs, but structural issues surrounding bilateral trade are still unresolved.
The U.S. rolled back tariffs on packages arriving from China to 54% from the previously announced 120%, and China removed its ban on the purchase of Boeing airplanes.
The latest measures are likely to improve sentiment on Wall Street, but the fact remains that China and the U.S. are far apart on tariffs.
Moreover, China has reduced its reliance on the U.S. markets by diversifying its manufacturing locations and accelerated its exports in other markets in the ASEAN region, the Middle East, and Latin America.
Trade uncertainty is likely to return in the weeks ahead, as China ramps up its agricultural imports from Brazil, Argentina, Peru, Thailand, and Vietnam.
But the U.S. companies have deepened their reliance on Chinese companies for consumer goods, electrical appliances, raw materials, and intermediate goods.
U.S. Stock Movers
American Eagle Outfitters dropped 11.5% to $11.26 after the company withdrew its annual outlook, citing tariff uncertainties.
In addition, the apparel retailer released its preliminary quarterly results and reported a revenue decline of about 5% to $1.1 billion and an operating loss of $85 million.
Abercrombie & Fitch declined 2.3% to $79.52. Urban Outfitters fell 0.8% to $58.89, and GAP decreased 1% to $25.15.
NVIDIA Corp. soared 3.3% to $133.85, and Advanced Micro Devices jumped 3.6% to $116.50 after the two artificial intelligence-linked companies were deemed beneficiaries of a potential trade deal with Saudi Arabia.
European Markets Hover at 2-Month Highs with Earnings In Focus
Bridgette Randall
14 May, 2025
London
Stock market indexes in Europe lacked direction as investors remained cautious about the constantly changing U.S. trade stance and policy.
Benchmark indexes in Frankfurt, Paris, Milan, and London traded in a tight range amid fresh worries of protracted trade tensions between the European Union and the U.S.
Despite the waning enthusiasm about the U.S.-China "trade deal" announced on Monday, investors worried that the longer-term impact of the sharp escalation of tariffs is negative for the global economy and international trade.
Meanwhile, the U.S. lowered its maximum duty on Chinese goods shipped under the de minimis program to 54% from 120%, and China removed its ban on purchases of Boeing aircraft.
International trade observers fear that Chinese companies are likely to target markets in the European Union to make up for lost markets in the U.S.
Europe Indexes and Yields
The DAX index increased by 0.2% to 23,681.63, the CAC-40 index edged lower 0.2% to 7,861.07, and the FTSE 100 index advanced 0.01% to 8,603.67.
The yield on 10-year German bonds inched higher to 2.68%, French bonds decreased to 3.35%, the UK gilts moved down to 4.66%, and Italian bonds edged lower to 3.68%.
The euro increased to $1.12; the British pound was higher at $1.33; and the U.S. dollar was higher and traded at 83.96 Swiss cents.
Brent crude decreased $0.33 to $66.29 a barrel, and the Dutch TTF natural gas was lower by €0.06 to €35.60 per MWh.
Europe Movers
Burberry plc soared 8.1% to 895.20 pence after the UK-based fashion apparel and accessories retailer reported better-than-expected fiscal 2025 results and plans to cut 1,700 jobs around the world.
TUI Group fell 10.4% to €6.80 despite the German travel and tourism company reporting strong fiscal second-quarter results and confirming its annual outlook.
The company guided fiscal 2025 revenue to increase between 5% and 10% and operating earnings to rise between 7% and 10% from a year ago.
Alstom plunged 16.2% to €19.10 after the French mobility engineering company reported strong fiscal 2025 results, but the company's outlook for the current year fell short of investor expectations.
The company guided fiscal 2026 sales to increase between 3% and 5%, EBIT margin of 7%, and free cash flow between €200 million and €400 million.
European Markets Hover at 2-Month Highs with Earnings In Focus
Bridgette Randall
14 May, 2025
London
Stock market indexes in Europe lacked direction as investors remained cautious about the constantly changing U.S. trade stance and policy.
Benchmark indexes in Frankfurt, Paris, Milan, and London traded in a tight range amid fresh worries of protracted trade tensions between the European Union and the U.S.
Despite the waning enthusiasm about the U.S.-China "trade deal" announced on Monday, investors worried that the longer-term impact of the sharp escalation of tariffs is negative for the global economy and international trade.
Meanwhile, the U.S. lowered its maximum duty on Chinese goods shipped under the de minimis program to 54% from 120%, and China removed its ban on purchases of Boeing aircraft.
International trade observers fear that Chinese companies are likely to target markets in the European Union to make up for lost markets in the U.S.
Europe Indexes and Yields
The DAX index increased by 0.2% to 23,681.63, the CAC-40 index edged lower 0.2% to 7,861.07, and the FTSE 100 index advanced 0.01% to 8,603.67.
The yield on 10-year German bonds inched higher to 2.68%, French bonds decreased to 3.35%, the UK gilts moved down to 4.66%, and Italian bonds edged lower to 3.68%.
The euro increased to $1.12; the British pound was higher at $1.33; and the U.S. dollar was higher and traded at 83.96 Swiss cents.
Brent crude decreased $0.33 to $66.29 a barrel, and the Dutch TTF natural gas was lower by €0.06 to €35.60 per MWh.
Europe Movers
Burberry plc soared 8.1% to 895.20 pence after the UK-based fashion apparel and accessories retailer reported better-than-expected fiscal 2025 results and plans to cut 1,700 jobs around the world.
TUI Group fell 10.4% to €6.80 despite the German travel and tourism company reporting strong fiscal second-quarter results and confirming its annual outlook.
The company guided fiscal 2025 revenue to increase between 5% and 10% and operating earnings to rise between 7% and 10% from a year ago.
Alstom plunged 16.2% to €19.10 after the French mobility engineering company reported strong fiscal 2025 results, but the company's outlook for the current year fell short of investor expectations.
The company guided fiscal 2026 sales to increase between 3% and 5%, EBIT margin of 7%, and free cash flow between €200 million and €400 million.
Europe Movers: Alstom, Bilfinger, Burberry, Daimler Truck, Experian, Hapag-Lloyd, TUI Group
Inga Muller
14 May, 2025
Frankfurt
Experian plc eased 0.9% to 3.944 pence after the UK-based data and analytics company reported first-half results.
Revenue jumped to $3.62 billion from $3.42 billion, EBIT increased to $1.01 billion from $928 million, and earnings per share rose to 76 cents from 70.4 cents a year ago.
The company guided full-year revenue to grow between 6% and 8%, compared to $7.10 billion in 2024.
The company announced dividend growth of 7% and plans to repurchase $150 million worth of its own shares.
Hapag-Lloyd AG advanced 2.7% to €151.70 after the German container shipping company reported first-quarter 2025 results.
Revenue jumped to €5.05 billion from €4.26 billion, profit surged to €445.9 million from €298.0 million, and diluted earnings per share rose to €2.51 from €1.67 a year ago.
The company guided full-year EBIT to be between breakeven and €1.5 billion, compared to €2.6 billion in 2024, and EBITDA between €2.4 billion and €3.9 billion, compared to €4.6 billion a year earlier.
Daimler Truck Holding AG gained 0.4% to €39.94 after the German vehicle manufacturer reported first-quarter 2025 results.
Revenue declined to €12.45 billion from €13.26 billion, net profit dropped to €770 million from €800 million, and diluted earnings per share fell to 99 cents from €1.00 a year ago.
As of January 1, Daimler Truck integrated its business in China and India into the Mercedes-Benz Trucks segment.
In other business developments, the company delivered the first all-electric RIZON trucks in Canada during the quarter.
The company will propose an unchanged dividend of €1.90 per share for 2024.
Alstom plunged 13.6% to €19.60 after the French mobility engineering company reported strong fiscal 2025 results, but the company's outlook for the current year fell short of investor expectations.
Sales climbed to €18.49 billion from €17.62 billion, and adjusted EBIT rose to €1.18 billion from €997 million a year ago.
Adjusted net profit increased to €498 million from €44 million a year earlier.
The company guided full-year 2026 revenue to grow between 3% and 5% year-over-year.
“The group has produced 4,383 cars during the year and is preparing for the production ramp-up in Germany and France in coming years,” the company said in a release to investors.
In Europe, the company recorded an order intake of €13.1 billion during the fiscal year 2025, compared to €11.3 billion in the previous year.
In the Americas, Alstom reported significant growth in order intake, while orders in Asia Pacific declined.
As of March 31, the backlog stood at €95 billion, providing the company with strong visibility over future sales.
TUI Group slipped 6.6% to €7.10 after the German travel and tourism company reported second-quarter 2025 results.
Revenue increased 1.5% to €3.7 billion from €3.6 billion, and EBIT loss widened to €206.8 million from a loss of €188.7 million a year ago.
Net loss expanded to €306 million from €294 million in the previous year.
The company guided full-year revenue to increase by 5% to 10%, compared to €23.27 billion in 2024, and EBIT to grow between 7% and 10%, compared to €1.3 billion a year earlier.
Bilfinger SE gained 0.9% to €75.03 after the German industrial services provider reported first-quarter 2025 results.
Revenue jumped 17% to €1.27 billion from €1.09 billion, net profit climbed 27% to €31.6 million from €24.9 million, and earnings per share rose 27% to 84 cents from 66 cents a year ago.
The company guided full-year revenue to be between €5.10 billion and €5.70 billion, compared to €5.04 billion in 2024.
Burberry plc soared 9.5% to 905.00 pence after the UK-based fashion apparel and accessories retailer reported better-than-expected fiscal 2025 results, and plans to cut 1,700 jobs around the world.
Revenue declined to £2.46 billion from £2.97 billion, net income swung to a loss of £75 million from a profit of £270 million, and diluted earnings per share swung to a loss of 20.9 pence from a profit of 73.9 pence a year ago.
Europe Movers: Alstom, Bilfinger, Burberry, Daimler Truck, Experian, Hapag-Lloyd, TUI Group
Inga Muller
14 May, 2025
London
Experian plc eased 0.9% to 3.944 pence after the UK-based data and analytics company reported first-half results.
Revenue jumped to $3.62 billion from $3.42 billion, EBIT increased to $1.01 billion from $928 million, and earnings per share rose to 76 cents from 70.4 cents a year ago.
The company guided full-year revenue to grow between 6% and 8%, compared to $7.10 billion in 2024.
The company announced dividend growth of 7% and plans to repurchase $150 million worth of its own shares.
Hapag-Lloyd AG advanced 2.7% to €151.70 after the German container shipping company reported first-quarter 2025 results.
Revenue jumped to €5.05 billion from €4.26 billion, profit surged to €445.9 million from €298.0 million, and diluted earnings per share rose to €2.51 from €1.67 a year ago.
The company guided full-year EBIT to be between breakeven and €1.5 billion, compared to €2.6 billion in 2024, and EBITDA between €2.4 billion and €3.9 billion, compared to €4.6 billion a year earlier.
Daimler Truck Holding AG gained 0.4% to €39.94 after the German vehicle manufacturer reported first-quarter 2025 results.
Revenue declined to €12.45 billion from €13.26 billion, net profit dropped to €770 million from €800 million, and diluted earnings per share fell to 99 cents from €1.00 a year ago.
As of January 1, Daimler Truck integrated its business in China and India into the Mercedes-Benz Trucks segment.
In other business developments, the company delivered the first all-electric RIZON trucks in Canada during the quarter.
The company will propose an unchanged dividend of €1.90 per share for 2024.
Alstom plunged 13.6% to €19.60 after the French mobility engineering company reported strong fiscal 2025 results, but the company's outlook for the current year fell short of investor expectations.
Sales climbed to €18.49 billion from €17.62 billion, and adjusted EBIT rose to €1.18 billion from €997 million a year ago.
Adjusted net profit increased to €498 million from €44 million a year earlier.
The company guided full-year 2026 revenue to grow between 3% and 5% year-over-year.
“The group has produced 4,383 cars during the year and is preparing for the production ramp-up in Germany and France in coming years,” the company said in a release to investors.
In Europe, the company recorded an order intake of €13.1 billion during the fiscal year 2025, compared to €11.3 billion in the previous year.
In the Americas, Alstom reported significant growth in order intake, while orders in Asia Pacific declined.
As of March 31, the backlog stood at €95 billion, providing the company with strong visibility over future sales.
TUI Group slipped 6.6% to €7.10 after the German travel and tourism company reported second-quarter 2025 results.
Revenue increased 1.5% to €3.7 billion from €3.6 billion, and EBIT loss widened to €206.8 million from a loss of €188.7 million a year ago.
Net loss expanded to €306 million from €294 million in the previous year.
The company guided full-year revenue to increase by 5% to 10%, compared to €23.27 billion in 2024, and EBIT to grow between 7% and 10%, compared to €1.3 billion a year earlier.
Bilfinger SE gained 0.9% to €75.03 after the German industrial services provider reported first-quarter 2025 results.
Revenue jumped 17% to €1.27 billion from €1.09 billion, net profit climbed 27% to €31.6 million from €24.9 million, and earnings per share rose 27% to 84 cents from 66 cents a year ago.
The company guided full-year revenue to be between €5.10 billion and €5.70 billion, compared to €5.04 billion in 2024.
Burberry plc soared 9.5% to 905.00 pence after the UK-based fashion apparel and accessories retailer reported better-than-expected fiscal 2025 results, and plans to cut 1,700 jobs around the world.
Revenue declined to £2.46 billion from £2.97 billion, net income swung to a loss of £75 million from a profit of £270 million, and diluted earnings per share swung to a loss of 20.9 pence from a profit of 73.9 pence a year ago.
U.S. Movers: JD.com, Tencent
Scott Peters
14 May, 2025
New York City
Tencent Music Entertainment Group surged 2.9% to $14.73 after the Chinese online music and audio entertainment platform reported first-quarter 2025 results.
Revenue jumped to 5.80 billion yuan from 5.01 billion yuan, profit climbed to 4.29 billion yuan from 1.42 billion yuan, and diluted earnings per share rose to 2.77 yuan from 0.91 yuan a year ago.
Revenue from music subscriptions increased 16.6% to 4.22 billion yuan, and the number of paying users edged up 8.3% to 122.9 million.
During the quarter, the music company repurchased a total of 5.9 million ADSs at an average price of $10.8 per ADS for a total of $64.5 million and paid a cash dividend of 18 cents per ADS, or 9 cents per ordinary share, for a total of $275 million in April.
JD.com Inc. soared 5.5% to $38.04 after the Chinese supply chain-based technology and service provider reported first-quarter 2025 results.
Revenue jumped to 301.08 billion yuan from 260.05 billion yuan, net income edged up to 10.89 billion yuan from 7.13 billion yuan, and diluted earnings per share rose to 3.59 yuan from 2.27 yuan a year ago.
Net income per ADS increased to 7.19 yuan from 4.53 yuan a year earlier.
During the quarter, the company launched its food delivery business and further strengthened its position as the first online marketplace for new and specialty medicine launches.
In addition, the company expanded its logistics services in Warsaw, Poland, and in Hong Kong.