Market Update
Europe Movers: Beiersdorf, Covestro, Eni, London Stock Exchange, Rolls-Royce, Sulzer, Telefonica
Inga Muller
27 Feb, 2025
Frankfurt
Covestro AG dropped 0.3% to €58.52 after the producer of polyurethane and polycarbonate raw materials reported lower sales in fiscal 2024 ending in December.
Sales decreased to €14.18 billion from €14.38 billion, net loss expanded to €266 million from €198 million, and loss per share deepened to €1.41 from a loss of €1.05 a year ago.
The company guided fiscal 2025 sales between €14.5 billion and €15.5 billion and financial results between €120 million and €160 million, compared to €114 million in 2024.
Sulzer AG gained 2.7% to CHF 145.80 after the Swiss industrial engineering and manufacturing company reported improved sales in the fiscal year 2024 ending in December.
Sales increased 7.6% to CHF 3.53 billion from CHF 3.28 billion, net income jumped to CHF 265.4 million from CHF 230.5 million, and earnings per diluted share climbed to CHF 7.64 from CHF 6.67 a year ago.
For fiscal 2025, the company estimated sales growth between 5% and 8%, intake order growth between 2% and 5%, and the EBITDA margin to improve to above 15% of sales.
Sulzer proposed a dividend of CHF 4.25 per share to the annual general meeting on April 23, compared to a dividend of CHF 3.75 per share in 2024.
Telefonica gained 0.5% to €4.33 after the Spanish telecom company reported a revenue increase in the fourth quarter of fiscal 2024, and net loss narrowed.
Revenue jumped 5.4% to €10.70 billion from €10.15 billion, net loss narrowed to €1.00 billion from €2.15 billion, and loss per basic share declined to 19 cents from a loss of 39 cents a year ago.
The company proposed to pay a cash dividend of 15 cents per share in June 2025, a dividend of 15 cents per share in December 2025, and a dividend of 15 cents per share in June 2026.
Beiersdorf AG traded flat at €127.15 after the parent company of Nivea cream reported higher sales in fiscal 2024 ending in December.
Group sales increased to €9.85 billion from €9.45 billion, operating EBIT income jumped to €1.29 billion from €1.10 billion, and earnings per share rose to €4.05 from €3.24 a year ago.
The company plans to repurchase shares for up to €500 million following the annual general meeting, to be completed by the end of 2025.
Beiersdorf paid dividends of $1.05 per share within the last 12 months, corresponding to a dividend yield of 0.79%.
London Stock Exchange Group Plc. gained 3.3% to 11,470 pence after the provider of financial markets data and trading infrastructure reported fiscal 2024 results.
Revenue increased to £8.58 billion from £8.06 billion, profit declined to £921 million from £948 million, and earnings per diluted share fell to 128.0 pence from 138.1 pence a year ago.
The dividend declared for the year rose to 89.0 pence per share, compared to 79.3 pence per share a year ago, giving a total for the year of 130.0 pence, up 13.0% from 2023.
The company guided for fiscal 2025 organic growth in total income between 6.5% and 7.5%, excluding recoveries and on a constant currency basis.
LSE plans to execute a share buyback of £500 million by July 2025.
Rolls-Royce Holdings Plc. surged 15.4% to 728.20 pence after the British aerospace and defense company reported strong results for fiscal 2024 ending in December.
Statutory revenue increased to £18.91 billion from £16.49 billion, profit jumped to £2.48 billion from £2.40 billion, and earnings per diluted share rose to 29.87 pence from 28.70 pence a year ago.
The company proposed a dividend of 6.0 pence per share for 2024, based on a 30% payout ratio of the underlying profit after tax.
Rolls-Royce guided for fiscal 2025 underlying operating profit between £2.7 billion and £2.9 billion, compared to £2.5 billion in 2024.
The company will commence a £1 billion share buyback program immediately and for completion through 2025.
Eni S.p.A. edged up 0.2% to €14.31 after the Italian energy company missed analysts’ expectations in the fourth quarter ending in December.
Revenue declined 5% to €23.49 billion from €24.62 billion, net profit jumped to €247 million from €173 million, and earnings per diluted share rose to 7 cents from 5 cents a year ago.
In 2024, the company paid dividends worth €227 million and returned over €5 billion to shareholders, driven by underlying performance and deleveraging.
Europe's Economic Sentiment Index Jumped to 5-Month High, Swiss GDP Growth Accelerated In 2024
Bridgette Randall
27 Feb, 2025
London
European markets traded in a tight range and hovered near recent highs amid improving market sentiment.
Benchmark indexes in Frankfurt edged lower, but they in Paris, Milan, and London edged slightly higher.
The Economic Sentiment Index for the Euro Area rose to a five-month high, the European Commission said in a report today.
The sentiment indicator increased to 96.3 in February from the upwardly revised 95.3 in January, amid softening pessimism among industrial goods producers.
On the economic front, France's producer price index declined for the 14th consecutive month, INSEE reported Thursday.
On a yearly basis, the producer price index decreased 2.1% in January after 3.8% in February.
The Swiss economy expanded in the fourth quarter at a slower annual pace, driven by a rise in net exports, the State Secretariat for Economic Affairs reported Thursday.
GDP expanded at an annual pace of 1.5%, slower than 1.9% in the previous quarter, after exports rose 7% and imports advanced 2.8%.
For the full year 2024, Swiss GDP accelerated to 1.3% from 0.7% in 2023, but slower than 3% in 2022.
Europe Indexes and Yields
The DAX index decreased by 0.7% to 22,642.22, the CAC-40 index edged lower 0.3% to 8,118.75; and the FTSE 100 index advanced by 0.2% to 8,748.36.
The yield on 10-year German bonds inched higher to 2.45%, French bonds increased to 3.17%, the UK gilts moved up to 4.52%, and Italian bonds edged higher to 3.51%.
The euro decreased to $1.05; the British pound was lower at $1.27; and the U.S. dollar was higher and traded at 89.75 Swiss cents.
Brent crude increased $0.79 to $73.32 a barrel, and the Dutch TTF natural gas was higher by €2.74 to €44.18 per MWh.
Europe Movers
Automakers were under pressure amid looming U.S. tariff threats and falling sales in China.
Volkswagen AG decreased 1.5% to €104.35, Renault SA gained 0.7% to €50.0, Stellantis NV declined 1.5% to €12.56, and BMW AG fell 2.7% to €84.56.
Mercedes-Benz Group advanced 5.5% to €17.0, and the German luxury automaker said it plans to cut jobs in China amid rising local competition.
Beiersdorf AG rose 3.5% to €131.65 after the parent company of Nivea cream announced a new stock buyback program.
Nordex SE decreased 1.4% to €12.51, despite the German wind turbine company's full-year 2024 earnings surpassing market expectations.
Eni SpA decreased 0.6% to €14.19 after the Italian energy company reported weaker-than-expected financial results in the fourth quarter.
AXA SA dropped 1.7% to €37.62 after the French insurance company announced €100 million in losses before taxes and net of reinsurance linked to wildfires in Los Angeles, California.
Engie SA jumped 6% to €17.52 after the French utility revised higher its 2025 outlook.
Swiss Re AG gained 2.2% to CHF 147.50, and the reinsurance company reported strong results in 2024 and reiterated its current year outlook.
Rolls Royce Holdings jumped 20% to 757.13 pence, and the aviation and power company upgraded its current year outlook following stronger-than-expected annual earnings.
WPP PLC dropped 15.5% to 650.40 pence after the UK-based advertising company estimated sales in the current year are likely to be flat or decline.
Europe's Economic Sentiment Index Jumped to 5-Month High, Swiss GDP Growth Accelerated In 2024
Bridgette Randall
27 Feb, 2025
London
European markets traded in a tight range and hovered near recent highs amid improving market sentiment.
Benchmark indexes in Frankfurt edged lower, but they in Paris, Milan, and London edged slightly higher.
The Economic Sentiment Index for the Euro Area rose to a five-month high, the European Commission said in a report today.
The sentiment indicator increased to 96.3 in February from the upwardly revised 95.3 in January, amid softening pessimism among industrial goods producers.
On the economic front, France's producer price index declined for the 14th consecutive month, INSEE reported Thursday.
On a yearly basis, the producer price index decreased 2.1% in January after 3.8% in February.
The Swiss economy expanded in the fourth quarter at a slower annual pace, driven by a rise in net exports, the State Secretariat for Economic Affairs reported Thursday.
GDP expanded at an annual pace of 1.5%, slower than 1.9% in the previous quarter, after exports rose 7% and imports advanced 2.8%.
For the full year 2024, Swiss GDP accelerated to 1.3% from 0.7% in 2023, but slower than 3% in 2022.
Europe Movers
Automakers were under pressure amid looming U.S. tariff threats and falling sales in China.
Volkswagen AG decreased 1.5% to €104.35, Renault SA gained 0.7% to €50.0, Stellantis NV declined 1.5% to €12.56, and BMW AG fell 2.7% to €84.56.
Mercedes-Benz Group advanced 5.5% to €17.0, and the German luxury automaker said it plans to cut jobs in China amid rising local competition.
Beiersdorf AG rose 3.5% to €131.65 after the parent company of Nivea cream announced a new stock buyback program.
Nordex SE decreased 1.4% to €12.51, despite the German wind turbine company's full-year 2024 earnings surpassing market expectations.
Eni SpA decreased 0.6% to €14.19 after the Italian energy company reported weaker-than-expected financial results in the fourth quarter.
AXA SA dropped 1.7% to €37.62 after the French insurance company announced €100 million in losses before taxes and net of reinsurance linked to wildfires in Los Angeles, California.
Engie SA jumped 6% to €17.52 after the French utility revised higher its 2025 outlook.
Swiss Re AG gained 2.2% to CHF 147.50, and the reinsurance company reported strong results in 2024 and reiterated its current year outlook.
Rolls Royce Holdings jumped 20% to 757.13 pence, and the aviation and power company upgraded its current year outlook following stronger-than-expected annual earnings.
WPP PLC dropped 15.5% to 650.40 pence after the UK-based advertising company estimated sales in the current year are likely to be flat or decline.
Japan Indexes Halted Two-Day Slide, Seven & I Dropped 11% After Management Buyout Collapsed
Akira Ito
27 Feb, 2025
Tokyo
Japan's indexes halted a two-day slide ahead of the release of key economic updates on Friday.
The Nikkei 225 stock average increased 0.3%, and the broader TOPIX advanced 0.7% after benchmark indexes in New York stabilized.
Stocks advanced, and the semiconductor equipment makers led the gainers in Tokyo after Nvidia reported a sharp jump in earnings and offered a better-than-expected outlook in the current quarter.
Investors have been on the defensive after China's startup DeepSeek released a cheaper alternative for artificial intelligence, raising the prospects of fewer new customers for Nvidia's expensive chips.
However, those worries were set aside after Nvidia reported fourth quarter results.
Revenue in the quarter ending in January increased 78% to $39.3 billion, and net income soared 71% to $22.1 billion.
For 2024, earnings jumped 145% to $72.9 billion, and net income soared ninefold from 2023.
Investors are looking ahead to the release of key economic updates on Friday, including industrial production, retail sales, and Tokyo-area inflation.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 38,259.96, and the broader TOPIX advanced 0.7% to 2,734.66.
Tokyo Electron increased 1.2% to ¥23,220.0, Advantest Corp. fell 1.8% to ¥8,906.0, and Disco Corp. jumped 2% to ¥41,930.0.
Seven & I Holding dropped 10.6% to ¥2,125.0, and the management buyout of the company fell apart on financing issues.
The parent company of Seven Eleven failed to arrange financing for its 8 trillion yen, or $53.7 billion, buyout.
Itochu was reportedly considering participating with one trillion yen, and at least three other large banks were involved in arranging the financing for a complex deal.
The Yomiuri newspaper first reported that the company has abandoned its buyout plan amid difficulties in arranging financing.
Itochu jumped 4.4% after the trading house said it no longer plans to participate in the Seven & I buyout.
Japan Indexes Halted Two-Day Slide, Seven & I Dropped 11% After Management Buyout Collaps
Akira Ito
27 Feb, 2025
Tokyo
Japan's indexes halted a two-day slide ahead of the release of key economic updates on Friday.
The Nikkei 225 stock average increased 0.3%, and the broader TOPIX advanced 0.7% after benchmark indexes in New York stabilized.
Stocks advanced, and the semiconductor equipment makers led the gainers in Tokyo after Nvidia reported a sharp jump in earnings and offered a better-than-expected outlook in the current quarter.
Investors have been on the defensive after China's startup DeepSeek released a cheaper alternative for artificial intelligence, raising the prospects of fewer new customers for Nvidia's expensive chips.
However, those worries were set aside after Nvidia reported fourth quarter results.
Revenue in the quarter ending in January increased 78% to $39.3 billion, and net income soared 71% to $22.1 billion.
For 2024, earnings jumped 145% to $72.9 billion, and net income soared ninefold from 2023.
Investors are looking ahead to the release of key economic updates on Friday, including industrial production, retail sales, and Tokyo-area inflation.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.3% to 38,259.96, and the broader TOPIX advanced 0.7% to 2,734.66.
Tokyo Electron increased 1.2% to ¥23,220.0, Advantest Corp. fell 1.8% to ¥8,906.0, and Disco Corp. jumped 2% to ¥41,930.0.
Seven & I Holding dropped 10.6% to ¥2,125.0, and the management buyout of the company fell apart on financing issues.
The parent company of Seven Eleven failed to arrange financing for its 8 trillion yen, or $53.7 billion, buyout.
Itochu was reportedly considering participating with one trillion yen, and at least three other large banks were involved in arranging the financing for a complex deal.
The Yomiuri newspaper first reported that the company has abandoned its buyout plan amid difficulties in arranging financing.
Itochu jumped 4.4% after the trading house said it no longer plans to participate in the Seven & I buyout.
Stock Movers: Anand Rathi Wealth, DAM Capital, Gillete India, KP Energy, NINec Systems, Swaraj Engines, Shilchar Technologies, Tips Music
Arun Goswami
27 Feb, 2025
Mumbai
Tips Music Ltd. increased 0.4% to ₹633.95 after the entertainment company reported a 30% increase in net income in the December quarter.
Consolidated revenue increased to ₹81.8 crore from ₹68.3 crore, after-tax profit rose to ₹44.2 crore from ₹34.7 crore, and diluted earnings per share jumped to ₹3.46 from ₹2.70 a year ago.
The company's board declared a third interim dividend for the financial year 2025 of ₹3 per share.
Shilchar Technologies Ltd. decreased 4.1% to ₹5,864.25 despite the transformer maker reporting a 33% surge in net income in the December quarter.
Consolidated revenue advanced to ₹158.5 crore from ₹121.1 crore, net income rose to ₹34.8 crore from ₹26.1 crore, and diluted earnings per share increased to ₹45.59 from ₹34.21 a year ago.
DAM Capital Advisors Limited dropped 1.8% to ₹222 despite the financial solutions provider reporting a sharp increase in revenue and earnings.
Consolidated revenue increased to ₹104 crore from ₹45 crore, after-tax profit rose to ₹51.5 crore from ₹21.1 crore, and diluted earnings per share jumped to ₹7.29 from ₹2.98 a year ago.
NINtec Systems Ltd. fell 2% to ₹477 despite the software services and solutions provider reporting a 72% surge from a year ago in the December quarter net income.
Consolidated revenue advanced to ₹36 crore from ₹24 crore, net income jumped to ₹6.7 crore from ₹3.9 crore, and diluted earnings per share rose to ₹3.62 from ₹2.08 a year ago.
Gillette India Limited rose 1% to ₹8,293.75 after the grooming and oral care products maker reported a slight increase in revenue and net income in the December quarter.
Consolidated revenue increased to ₹694.7 crore from ₹646.7 crore, after-tax profit advanced to ₹126 crore from ₹104 crore, and diluted earnings per share rose to ₹38.66 from ₹31.91 a year ago.
Anand Rathi Wealth Limited decreased 0.6% to ₹4,013.90 despite the wealth management company reporting a 30% increase in revenue in the December quarter.
Consolidated revenue advanced to ₹244.2 crore from ₹187.3 crore, net income jumped to ₹77.3 crore from ₹58 crore, and diluted earnings per share rose to ₹18.58 from ₹13.87 a year ago.
KP Energy Ltd. declined 2.5% to ₹391.40 despite wind farm developers reporting a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue increased to ₹212.6 crore from ₹83.3 crore, after-tax profit jumped to ₹26.4 crore from ₹9.25 crore, and diluted earnings per share rose to ₹3.94 from ₹1.39 a year ago.
The company's board declared a third interim dividend of ₹3 per share.
Swaraj Engines Limited plunged 1.5% to ₹2,720 despite the diesel engine maker reporting a 33% jump in its earnings in the December quarter.
Consolidated revenue advanced to ₹349.2 crore from ₹282.9 crore, net income jumped to ₹32 crore from ₹24.1 crore, and diluted earnings per share rose to ₹26.30 from ₹19.83 a year ago.
Tech Stocks In Hong Kong Extend Recent Losses, HKEX Reports Record Profit and Declares Second Dividend
Li Chen
27 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong turned lower, and investors looked ahead to announcements from policymakers next week.
The Hang Seng index decreased more than 1% and turned lower for the second consecutive session after reaching a three-year high last week.
The CSI 300 index decreased 0.3% and extended losses in the week, as investors remained cautious ahead of the National People's Congress, the annual legislative meeting next week.
After the weeklong meeting, policymakers are set to announce an economic growth target, fiscal deficit plans, and other key measures to support the economic expansion.
Investors are looking forward to more clarity on the previously announced stimulus measures and how they will revive the flailing property market and bolster consumer confidence.
Mainland and foreign investors have been increasing exposure to tech stocks listed in Hong Kong amid expectations that the affordable artificial intelligence technology from DeepSeek could provide a boost to earnings.
However, investors are also questioning the stretched valuations of Internet platform operators.
China Indexes and Stocks
The Hang Seng index declined 1% to 23,535.80, and the mainland-focused CSI 300 index dropped 0.3% to 3,950.66.
Alibaba Group Holding decreased 2.4% to HK $133.60, Tencent Holdings declined 1.5% to $494.0, and Meituan dropped 2.7% to HK $169.70.
Xiaomi Corp. dropped 7.3% to HK $169.70, CATL advanced 0.2% to HK ¥269.21, and JD.com Inc declined 1.3% to HK $165.90.
Hong Kong Exchanges and Clearing Ltd. decreased 1% to HK $357.40 after the financial services provider reported earnings in line with expectations.
Net income soared 10% to HK $13 billion from HK $11.9 billion, and earnings per share rose to HK $10.32.
The company reported record revenue and earnings in 2024 and announced a second interim dividend of HK $4.90.
Total dividend in the year increased to HK $9.26 from HK $8.41 in 2023, keeping the payout ratio to 90% of earnings.
Tech Stocks In Hong Kong Extend Recent Losses, HKEX Reports Record Profit and Declares Second Dividend
Li Chen
27 Feb, 2025
Hong Kong
Stock market indexes in China and Hong Kong turned lower, and investors looked ahead to announcements from policymakers next week.
The Hang Seng index decreased more than 1% and turned lower for the second consecutive session after reaching a three-year high last week.
The CSI 300 index decreased 0.3% and extended losses in the week, as investors remained cautious ahead of the National People's Congress, the annual legislative meeting next week.
After the weeklong meeting, policymakers are set to announce an economic growth target, fiscal deficit plans, and other key measures to support the economic expansion.
Investors are looking forward to more clarity on the previously announced stimulus measures and how they will revive the flailing property market and bolster consumer confidence.
Mainland and foreign investors have been increasing exposure to tech stocks listed in Hong Kong amid expectations that the affordable artificial intelligence technology from DeepSeek could provide a boost to earnings.
However, investors are also questioning the stretched valuations of Internet platform operators.
China Indexes and Stocks
The Hang Seng index declined 1% to 23,535.80, and the mainland-focused CSI 300 index dropped 0.3% to 3,950.66.
Alibaba Group Holding decreased 2.4% to HK $133.60, Tencent Holdings declined 1.5% to $494.0, and Meituan dropped 2.7% to HK $169.70.
Xiaomi Corp. dropped 7.3% to HK $169.70, CATL advanced 0.2% to HK ¥269.21, and JD.com Inc declined 1.3% to HK $165.90.
Hong Kong Exchanges and Clearing Ltd. decreased 1% to HK $357.40 after the financial services provider reported earnings in line with expectations.
Net income soared 10% to HK $13 billion from HK $11.9 billion, and earnings per share rose to HK $10.32.
The company reported record revenue and earnings in 2024 and announced a second interim dividend of HK $4.90.
Total dividend in the year increased to HK $9.26 from HK $8.41 in 2023, keeping the payout ratio to 90% of earnings.
Wall Street Indexes Lacks Direction After Erasing Trump Election Gains
Barry Adams
26 Feb, 2025
New York City
Stock market indexes in New York advanced after falling in four consecutive sessions amid rising worries about the state of the U.S. economy.
The S&P 500 index advanced 0.4%, and the Nasdaq Composite rose 0.5%, and Nvidia's earnings after the close dominated market sentiment.
Investors also reviewed the latest earnings from Lowe's, Instacart, Stellantis, TJX, and General Motors.
On the economic front, investors are looking forward to the release of personal consumption expenditure price index, or the so called PCE on Friday, the Fed's preferred gauge of inflation which understates inflation experienced by most urban families.
U.S. Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,982.10, the Nasdaq Composite edged up 0.7% to 19,157.93, and the Russell 2000 index was up 0.5% to 2,181.23.
The yield on 2-year Treasury notes edged higher to 4.12%, 10-year Treasury notes decreased to 4.30%, and 30-year Treasury bonds declined to 4.55%.
WTI crude oil decreased $0.08 to $68.85 a barrel, and natural gas prices edged lower by $0.11 to $4.02 a thermal unit.
Gold decreased by $26.13 to 2,892.21 an ounce, and silver edged down by $0.18 to $31.60.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.25 to 106.56 and traded at a two-year high.
U.S. Stock Movers
Instacart plunged 11.4% to $43.36 despite the online grocery platform reporting a strong increase in gross transaction value and order frequency.
However, the rise in sales in the latest quarter failed to deliver the expected bump in earnings in the fourth quarter.
Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.
For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024.
Stellantis NV dropped 4.4% to $13.42 after the parent company of Fiat and Chrysler reported a sharp decline in earnings.
The vehicle maker held out for higher sales in 2025, and return to profitable growth and positive cash flow.
TJX Companies increased 3.5% to $127.03, and the parent company of TJ Maxx and Marshalls reported higher than-expected sales and earnings in the holiday quarter.
Lowe's advanced 4% to $253.37, and the home improvement chain reported better-than-expected results in the latest quarter.
The company said comparable sales increased 0.2%, reversing declines since the third quarter of 2022.
The retailer estimated full-year 2025 sales to range between $83.5 billion and $84.5 billion, driven by flat to an increase of 1% in comparable sales, resulting in earnings per share between $12.15 and $12.40.
General Motors advanced 7.5% to $49.97 after the vehicle maker increased its quarterly dividend and launched a $6 billion stock repurchase.
Wall Street Indexes Lacks Direction After Erasing Trump Election Gains
Barry Adams
26 Feb, 2025
New York City
Stock market indexes in New York advanced after falling in four consecutive sessions amid rising worries about the state of the U.S. economy.
The S&P 500 index advanced 0.4%, and the Nasdaq Composite rose 0.5%, and Nvidia's earnings after the close dominated market sentiment.
Investors also reviewed the latest earnings from Lowe's, Instacart, Stellantis, TJX, and General Motors.
On the economic front, investors are looking forward to the release of personal consumption expenditure price index, or the so called PCE on Friday, the Fed's preferred gauge of inflation which understates inflation experienced by most urban families.
U.S. Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,982.10, the Nasdaq Composite edged up 0.7% to 19,157.93, and the Russell 2000 index was up 0.5% to 2,181.23.
The yield on 2-year Treasury notes edged higher to 4.12%, 10-year Treasury notes decreased to 4.30%, and 30-year Treasury bonds declined to 4.55%.
WTI crude oil decreased $0.08 to $68.85 a barrel, and natural gas prices edged lower by $0.11 to $4.02 a thermal unit.
Gold decreased by $26.13 to 2,892.21 an ounce, and silver edged down by $0.18 to $31.60.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.25 to 106.56 and traded at a two-year high.
U.S. Stock Movers
Instacart plunged 11.4% to $43.36 despite the online grocery platform reporting a strong increase in gross transaction value and order frequency.
However, the rise in sales in the latest quarter failed to deliver the expected bump in earnings in the fourth quarter.
Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.
For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024.
Stellantis NV dropped 4.4% to $13.42 after the parent company of Fiat and Chrysler reported a sharp decline in earnings.
The vehicle maker held out for higher sales in 2025, and return to profitable growth and positive cash flow.
TJX Companies increased 3.5% to $127.03, and the parent company of TJ Maxx and Marshalls reported higher than-expected sales and earnings in the holiday quarter.
Lowe's advanced 4% to $253.37, and the home improvement chain reported better-than-expected results in the latest quarter.
The company said comparable sales increased 0.2%, reversing declines since the third quarter of 2022.
The retailer estimated full-year 2025 sales to range between $83.5 billion and $84.5 billion, driven by flat to an increase of 1% in comparable sales, resulting in earnings per share between $12.15 and $12.40.
General Motors advanced 7.5% to $49.97 after the vehicle maker increased its quarterly dividend and launched a $6 billion stock repurchase.
European Markets Inch Higher Amid Strong Earnings, US-Ukraine Mineral Deal In Focus
Bridgette Randall
26 Feb, 2025
London
European markets advanced in Wednesday's trading as investors reviewed another batch of mostly positive results from leading corporations.
Benchmark indexes in Frankfurt hovered near record high, and the indexes in Paris, Milan, and London edged higher amid optimism about Russia-Ukraine conflict.
The U.S. and Ukraine are inching closer to signing a deal that will hand over key revenue from mineral exports to the U.S. in exchange for vague security support and arms shipments.
The agreement is widely seen in the diplomatic circles as exploitation of weakened Ukraine and plundering of resources, as the early arms shipments were billed as "aid" in defense of the Russian aggression.
Market sentiment in Europe remained positive as investors hoped that the deal could pave the way for tensions to subside in the region, which could lower energy prices and drive inflation lower.
Europe Indexes and Yields
The DAX index increased by 1.1% to 22,651.47, the CAC-40 index edged higher 0.99% to 8,130.63, and the FTSE 100 index advanced by 0.61% to 8,721.97.
The yield on 10-year German bonds inched lower to 2.44%, French bonds decreased to 3.16%, the UK gilts moved down to 4.49%, and Italian bonds edged lower to 3.49%.
The euro decreased to $1.05; the British pound was lower at $1.26; and the U.S. dollar was higher and traded at 89.47 Swiss cents.
Brent crude decreased $0.13 to $72.99 a barrel, and the Dutch TTF natural gas was lower by €0.62 to €43.33 per MWh.
Europe Stock Movers
E.ON increased 2.3% to €12.41, and the energy utility company reported financial results that met investor expectations.
The company also revised higher its three-year outlook, supporting a bounce in the stock price.
Adecco Group soared 10% to CHF 25.18, and the Swiss staffing company signaled early signs of global hiring pick up.
Fresenius SE soared 7.5% to €39.36 after the dialysis service provider's adjusted profit in the fourth quarter surpassed market expectations.
Deutsche Telekom AG decreased 2.2% to €34.21 after the company's 2025 earnings outlook fell short of some analysts' expectations.
Munich Re jumped 5.5% to €555.40, and the German reinsurance company reported 2024 net income of €5.7 billion, ahead of the company's estimate of €5.0 billion.
Anheuser-Busch InBev SA jumped 7.6% to €56.42 after the alcoholic beverage company's fourth quarter results were ahead of market expectations.
Stellantis NV declined 4% to €12.93 after the Italian vehicle company reported a sharp decline in earnings, and the company guided no major improvement in earnings in 2025.
European Markets Inch Higher Amid Strong Earnings, US-Ukraine Mineral Deal
Bridgette Randall
26 Feb, 2025
London
European markets advanced in Wednesday's trading as investors reviewed another batch of mostly positive results from leading corporations.
Benchmark indexes in Frankfurt hovered near record high, and the indexes in Paris, Milan, and London edged higher amid optimism about Russia-Ukraine conflict.
The U.S. and Ukraine are inching closer to signing a deal that will hand over key revenue from mineral exports to the U.S. in exchange for vague security support and arms shipments.
The agreement is widely seen in the diplomatic circles as exploitation of weakened Ukraine and plundering of resources, as the early arms shipments were billed as "aid" in defense of the Russian aggression.
Market sentiment in Europe remained positive as investors hoped that the deal could pave the way for tensions to subside in the region, which could lower energy prices and drive inflation lower.
Europe Indexes and Yields
The DAX index increased by 1.1% to 22,651.47, the CAC-40 index edged higher 0.99% to 8,130.63, and the FTSE 100 index advanced by 0.61% to 8,721.97.
The yield on 10-year German bonds inched lower to 2.44%, French bonds decreased to 3.16%, the UK gilts moved down to 4.49%, and Italian bonds edged lower to 3.49%.
The euro decreased to $1.05; the British pound was lower at $1.26; and the U.S. dollar was higher and traded at 89.47 Swiss cents.
Brent crude decreased $0.13 to $72.99 a barrel, and the Dutch TTF natural gas was lower by €0.62 to €43.33 per MWh.
Europe Stock Movers
E.ON increased 2.3% to €12.41, and the energy utility company reported financial results that met investor expectations.
The company also revised higher its three-year outlook, supporting a bounce in the stock price.
Adecco Group soared 10% to CHF 25.18, and the Swiss staffing company signaled early signs of global hiring pick up.
Fresenius SE soared 7.5% to €39.36 after the dialysis service provider's adjusted profit in the fourth quarter surpassed market expectations.
Deutsche Telekom AG decreased 2.2% to €34.21 after the company's 2025 earnings outlook fell short of some analysts' expectations.
Munich Re jumped 5.5% to €555.40, and the German reinsurance company reported 2024 net income of €5.7 billion, ahead of the company's estimate of €5.0 billion.
Anheuser-Busch InBev SA jumped 7.6% to €56.42 after the alcoholic beverage company's fourth quarter results were ahead of market expectations.
Stellantis NV declined 4% to €12.93 after the Italian vehicle company reported a sharp decline in earnings, and the company guided no major improvement in earnings in 2025.
U.S. Movers: Dillard's, Instacart, Planet Fitness
Scott Peters
26 Feb, 2025
New York City
Instacart plunged 9.8% to $48.78 despite the grocery delivery company reporting revenue growth in the fourth quarter ending in December.
Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.
For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024, and adjusted EBITDA between $220 million and $230 million, compared to $198 million a year ago.
Dillard’s Inc. traded flat at $455.54 after the department store chain reported a slight decrease in revenue for the fourth quarter ending in February.
Net sales dropped 1% to $2.02 billion from $2.12 billion, net income declined 10.6% to $214.4 million from $250.5 million, and earnings per diluted share fell to $13.48 from $15.44 a year ago.
Planet Fitness Inc. eased 1.2% to $89.00 after the fitness center operator said system-wide same-club sales increased 5.5% in the fourth quarter ending in December.
Revenue increased to $340.45 million from $285.09 million, net income surged to $47.08 million from $35.34 million, and earnings per diluted share rose to 56 cents from 41 cents a year ago.
For fiscal 2025, the company estimated same-club sales growth between 5% and 6%, revenue growth of approximately 10%, and adjusted net income growth between 8% and 9%.
Planet Fitness also expects new equipment placements between 130 and 140 in franchise-owned locations and new club openings between 160 and 170 locations in 2025.
U.S. Movers: Dillard's, Instacart, Planet Fitness
Scott Peters
26 Feb, 2025
New York City
Instacart plunged 9.8% to $48.78 despite the grocery delivery company reporting revenue growth in the fourth quarter ending in December.
Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.
For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024, and adjusted EBITDA between $220 million and $230 million, compared to $198 million a year ago.
Dillard’s Inc. traded flat at $455.54 after the department store chain reported a slight decrease in revenue for the fourth quarter ending in February.
Net sales dropped 1% to $2.02 billion from $2.12 billion, net income declined 10.6% to $214.4 million from $250.5 million, and earnings per diluted share fell to $13.48 from $15.44 a year ago.
Planet Fitness Inc. eased 1.2% to $89.00 after the fitness center operator said system-wide same-club sales increased 5.5% in the fourth quarter ending in December.
Revenue increased to $340.45 million from $285.09 million, net income surged to $47.08 million from $35.34 million, and earnings per diluted share rose to 56 cents from 41 cents a year ago.
For fiscal 2025, the company estimated same-club sales growth between 5% and 6%, revenue growth of approximately 10%, and adjusted net income growth between 8% and 9%.
Planet Fitness also expects new equipment placements between 130 and 140 in franchise-owned locations and new club openings between 160 and 170 locations in 2025.
Europe Movers: Alcon, Danone, Saipem, Stellantis, Wolters Kluwer
Inga Muller
26 Feb, 2025
Frankfurt
Alcon AG dropped 0.6% to CHF 80.16 after the eye products maker reported sales growth in the fourth quarter ending in December.
Net sales increased to $2.48 billion from $2.33 billion, net income declined to $284 million from $427 million, and earnings per diluted share fell to 57 cents from 86 cents a year ago.
The company proposed a dividend of 28 Swiss cents per share, to be approved at the annual general meeting on May 6.
For fiscal 2025, Alcon estimated net sales between $10.2 billion and $10.4 billion, compared to $9.84 billion in 2024, and earnings per share between $3.15 and $3.25, compared to $2.05 in 2024.
Wolters Kluwer NV traded flat at €172.35 after the Dutch technical information services company reported revenue growth in fiscal 2024 ending in December.
Revenue increased to €5.92 billion from €5.58 billion, profit edged up to €1.08 billion from €1.01 billion, and earnings per diluted share rose to €4.52 from €4.09 a year ago.
The company proposed a final cash dividend of €1.50 per share, resulting in a total dividend in fiscal 2024 of €2.33 per share, an increase of 12%.
In addition, the company plans to repurchase shares for up to €1 billion in 2025.
For fiscal 2025, Wolters Kluwer estimated an adjusted operating profit margin between 27.1% and 27.5%, a return on invested capital between 18% and 19%, and adjusted earnings per diluted share to grow at mid-single digits.
The company’s health segment expanded by 6% in 2024, and the projection for the current year is "in line with this growth or slightly below it," with the first half of the year facing challenging comparisons across the division.
The tax and accounting, financial and corporate compliance, and legal regulatory segments are also expected to sustain prior-year growth rates, while the corporate performance and environmental, social, and governance division is estimated to grow at faster rates than in the previous year.
Danone SA gained 0.7% to €70.00 after the French dairy food products company reported muted sales in fiscal 2024 ending in December.
Sales decreased to €27.38 billion from €27.62 billion, net income surged to €2.10 billion from €953 million, and earnings per diluted share fell to €3.14 from €1.36 a year ago.
Comparable sales in 2024 rose 4.3%, and in the fourth quarter advanced 1.8%.
For fiscal 2025, Danone estimated comparable sales growth between 3% and 5%, with recurring operating income growing faster than sales.
The company proposed a dividend of €2.15 per share, up 2.4% compared to the previous year, with the ex-dividend date on May 3 and payable on May 7.
In addition, Danone plans to buy back 2.7 million shares in one or more tranches in 2025.
Stellantis NV plunged 5.5% to €12.75 after the Italian automobile maker reported a 70% drop in full-year 2024 profit.
Revenue decreased 17% to €156.88 billion from €189.54 billion, net profit plunged 70% to €5.52 billion from €18.62 billion, and earnings per diluted share fell 69% to €1.84 from €5.94 a year ago.
The company guided for fiscal 2025 positive net revenue growth and adjusted operating income margin in the mid-single digits percentage.
Stellantis plans to appoint a new Chief Executive Officer within the first half of 2025.
Saipem S.p.A. gained 5.9% to €2.40 after the Italian oilfield services company reported full-year 2024 results.
Revenue increased to €14.55 billion from €11.87 billion, net income surged to €306 million from €179 million, and EBITDA climbed to €1.33 billion from €926 million a year ago.
For fiscal 2025, the company estimated revenue of about €15 billion and EBITDA at €1.6 billion.
Saipem agreed on a possible merger with Subsea7, a Luxembourg-registered company involved in subsea engineering and construction serving the offshore oil and gas industry.