India Movers: Bajaj Consumer, Aditya Birla Fashion, Deepak Nitrite, Easy Trip Planners, GlaxoSmithKline, Gujarat Raffia, MTNL

Arun Goswami
17 Feb, 2025
Mumbai

The Sensex and Nifty indexes extended losses to the ninth consecutive session amid a lackluster earnings growth outlook and persistent outflow of foreign funds.

Stock market indexes in Mumbai turned lower, and the rupee remained under pressure amid persistent foreign funds outflow. 

The Sensex index declined by 0.6% to 75,436.46, and the Nifty index decreased by 0.7% to 22,772.20.

On the Mumbai stock exchange, 22 stocks traded at their 52-week highs, and 678 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 86.66 against the U.S. dollar.

Bajaj Consumer Care Ltd. declined 3.1% to ₹167.55, and the personal care products maker reported a 30% decline in net income in the December quarter.

Consolidated revenue decreased to ₹242 crore from ₹250.2 crore, net income fell to ₹25.3 crore from ₹36.3 crore, and diluted earnings per share dropped to ₹1.82 from ₹2.55 a year ago.

Aditya Birla Fashion & Retail increased 0.02% to ₹247.60, and the apparel reported a 4% rise in the December quarter revenue.

Consolidated revenue increased to ₹4,361.7 crore from ₹4,210.7 crore, after-tax loss shrank to ₹42.36 crore from ₹107.6 crore, and diluted earnings per share fell to 48 paisa from 81 paisa a year ago.

Easy Trip Planners Ltd. fell 3.4% to ₹11.53 after the online travel booking services provider reported a 25% drop in profit in the December quarter from a year ago. 

Consolidated revenue declined to ₹153.8 crore from ₹165.3 crore, net income fell to ₹34 crore from ₹45.6 crore, and diluted earnings per share decreased to 9 paisa from 13 paisa a year ago.

GlaxoSmithKline Pharmaceuticals Ltd. jumped 17.8% to ₹2,376.70, and the pharmaceutical and healthcare company reported a sharp increase in quarterly revenue and earnings.

Consolidated revenue increased to ₹984.49 crore from ₹833.4 crore, after-tax profit advanced to ₹229.9 crore from ₹45.7 crore, and diluted earnings per share jumped to ₹13.57 from ₹2.70 a year ago.

The company's board declared a special interim dividend for the financial year 2025 of ₹12 per equity share.

Gujarat Raffia Industries Ltd. decreased 5% to ₹48.36 after the PE Tarpaulin maker reported a decline in revenue and earnings in the December quarter.

Standalone revenue decreased to ₹6.1 crore from ₹7.5 crore, net income fell to ₹0.07 crore from ₹0.2 crore, and diluted earnings per share declined to 14 paisa from 33 paisa a year ago.

Deepak Nitrite Limited dropped 2.5% to ₹1,852.85, and the chemical producers reported a 52% plunge in quarterly profit from a year ago.

Consolidated revenue decreased to ₹1,924.4 crore from ₹2,022.8 crore, after-tax profit declined to ₹98.1 crore from ₹202.1 crore, and diluted earnings per share dropped to ₹7.19 from ₹14.81 a year ago.

Glenmark Pharmaceuticals Ltd. advanced 2.7% to ₹1,357 after the company reported a profit in the December quarter from a year ago.

Consolidated revenue increased to ₹3,418.6 crore from ₹2,552.1 crore, net income swung to a profit of ₹348 crore from a loss of ₹449.5 crore, and diluted earnings per share swung to ₹12.33 from a loss of ₹16.66 a year ago.

Mahanagar Telephone Nigam Ltd. increased 3.3% to ₹48.42 after the telecommunication company reported fiscal third quarter results.

Consolidated revenue increased to ₹339 crore from ₹335 crore, after-tax loss declined to ₹836 crore from ₹839 crore, and diluted losses per share fell to ₹13.27 from ₹13.32 a year ago.

Wall Street Weekly Rally Extends to Fifth Consecutive Week, Retail Sales In Focus

Barry Adams
14 Feb, 2025
New York City

Stock market indexes on Wall Street edged higher amid continued optimism about earnings on the final trading day of the week. 

The S&P 500 index and the Nasdaq Composite advanced a fraction, and they gained more than 1% after a week of trading. 

Retail sales rose at an annual pace of 4.2% in January, slower than 4.4% in December, according to the data released by the U.S. Census Bureau.

On a monthly basis, retail sales contracted 0.9% in the month following an upwardly revised 0.7% increase in December.

Monthly retail sales declined at the fastest pace since March 2023, and sales were negatively impacted by severe weather across the nation and multiple fires in Los Angeles, California. 

Investors have remained positive despite the growing tariff tantrum and reversals from the White House, largely because of a string of positive earnings from leading corporations.

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 6,120.23, the Nasdaq Composite edged up 0.1% to 19,957.59, and the Russell 2000 index was up 1.6% to 2,291.44.

The yield on 2-year Treasury notes edged lower to 4.28%, 10-year Treasury notes decreased to 4.47%, and 30-year Treasury bonds declined to 4.69%.

WTI crude oil increased $0.27 to $71.56 a barrel, and natural gas prices edged higher by $0.09 to $3.73 a thermal unit.

Gold decreased by $4.58 to $2,926.63 an ounce, and silver edged up by $0.86 to $33.23.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.38 to 106.69 and traded at a two-year high.

U.S. Stock Movers 

Airbnb Inc. jumped 14% to $161.01, and the online vacation rental company reported sharply higher revenue and earnings in the fourth quarter. 

Coinbase Global Inc. advanced 2.9% to $289.80, and the cryptocurrency-focused online platform operator said fourth-quarter revenue soared 88%. 

Moderna Inc. declined 4.5% to $30.40 after the vaccine maker reported mixed results in the fourth quarter. 

The company reported a loss of $2.91 per share in the fourth quarter but retained its annual product sales estimate between $1.5 billion and $2.5 billion.

Hyatt Hotels declined 0.7% to $146.49 after the upscale hotel chain operator swung to a loss in the fourth quarter. 

Revenue dropped to $1.60 billion from $1.66 billion, net income swung to a loss of $56 million from a profit of $26 million, and loss per diluted share was 58 cents, compared to a profit of 25 cents a year ago.

For fiscal 2025, the company estimated net income between $190 million and $240 million, compared to $1.30 billion a year ago, and net room growth between 6% and 7%, compared to 7.8% a year earlier.

Wall Street Weekly Rally Extends to Fifth Consecutive Week, Retail Sales In Focus

Barry Adams
14 Feb, 2025
New York City

Stock market indexes on Wall Street edged higher amid continued optimism about earnings on the final trading day of the week. 

The S&P 500 index and the Nasdaq Composite advanced a fraction, and they gained more than 1% after a week of trading. 

Retail sales rose at an annual pace of 4.2% in January, slower than 4.4% in December, according to the data released by the U.S. Census Bureau.

On a monthly basis, retail sales contracted 0.9% in the month following an upwardly revised 0.7% increase in December.

Monthly retail sales declined at the fastest pace since March 2023, and sales were negatively impacted by severe weather across the nation and multiple fires in Los Angeles, California. 

Investors have remained positive despite the growing tariff tantrum and reversals from the White House, largely because of a string of positive earnings from leading corporations.

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 6,120.23, the Nasdaq Composite edged up 0.1% to 19,957.59, and the Russell 2000 index was up 1.6% to 2,291.44.

The yield on 2-year Treasury notes edged lower to 4.28%, 10-year Treasury notes decreased to 4.47%, and 30-year Treasury bonds declined to 4.69%.

WTI crude oil increased $0.27 to $71.56 a barrel, and natural gas prices edged higher by $0.09 to $3.73 a thermal unit.

Gold decreased by $4.58 to $2,926.63 an ounce, and silver edged up by $0.86 to $33.23.

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.38 to 106.69 and traded at a two-year high.

U.S. Stock Movers 

Airbnb Inc. jumped 14% to $161.01, and the online vacation rental company reported sharply higher revenue and earnings in the fourth quarter. 

Coinbase Global Inc. advanced 2.9% to $289.80, and the cryptocurrency-focused online platform operator said fourth-quarter revenue soared 88%. 

Moderna Inc. declined 4.5% to $30.40 after the vaccine maker reported mixed results in the fourth quarter. 

The company reported a loss of $2.91 per share in the fourth quarter but retained its annual product sales estimate between $1.5 billion and $2.5 billion.

Hyatt Hotels declined 0.7% to $146.49 after the upscale hotel chain operator swung to a loss in the fourth quarter. 

Revenue dropped to $1.60 billion from $1.66 billion, net income swung to a loss of $56 million from a profit of $26 million, and loss per diluted share was 58 cents, compared to a profit of 25 cents a year ago.

For fiscal 2025, the company estimated net income between $190 million and $240 million, compared to $1.30 billion a year ago, and net room growth between 6% and 7%, compared to 7.8% a year earlier.

U.S. Movers: Airbnb, Applied Materials, DexCom, Hyatt Hotels, Moody's, Palo Alto Networks, Sony

Scott Peters
14 Feb, 2025
New York City

Sony Corp. surged 3.06% to $23.90 after the electronics and media company reported steady revenue and profit growth for the third quarter ending in December.

Total sales increased to ¥4.41 trillion from ¥3.75 trillion, net income rose to ¥373.74 billion from ¥363.92 billion, and earnings per diluted share climbed to ¥61.82 from ¥58.96 a year ago.

The company estimated full-year sales of ¥13.2 trillion ($87.6 billion) on the back of strong performance in its gaming and music business in the third quarter, and compared to ¥13.02 trillion a year ago.

Sony also raised its outlook for annual operating profit to ¥1.34 trillion ($8.8 billion), a 2% increase from the previous financial year.

Applied Materials Inc. dropped 5% to $175 after the software applications provider reported a 7% revenue growth in the first quarter ended January 26, but profit declined.

Revenue jumped 7% to $7.17 billion from $6.71 billion, net income declined 41% to $1.18 billion from $2.02 billion, and earnings per diluted share dropped 40% to $.145 from $2.41 a year ago.

For the second quarter, the company estimated revenue of $7.10 billion, compared to $6.65 billion a year ago, and non-GAAP diluted earnings per share of $2.30, compared to $2.09 a year earlier.

Non-GAAP gross margin is estimated at 48.4% in the second quarter, compared to 47.5% in the same quarter last year.

Moody's Corp. surged 4.4% to $527.48 after the financial services and credit ratings company reported strong revenue and earnings growth in the fourth quarter ending in December.

Revenue increased to $1.67 billion from $1.48 billion, net income jumped to $395 million from $340 million, and earnings per diluted share rose to $2.17 from $1.85 a year ago.

For fiscal 2025, the company estimated earnings per diluted share between $12.75 and $13.25, compared to $11.26 a year ago.

Palo Alto Networks Inc. dropped 5.1% to $191.59 after the cyber security company reported declining profit in the second quarter of 2025 ending in January.

Revenue jumped 14% to $2.26 billion from $1.97 billion, net income plunged to $267.3 million from $1.75 billion, and earnings per diluted share fell to 38 cents from $2.44 a year ago.

For the third quarter of 2025, the company estimated revenue between $2.26 billion and $2.29 billion, up 14%-15% from $2.0 billion a year ago, and non-GAAP earnings per diluted share between 76 cents and 77 cents, compared to $1.32 a year ago.

For fiscal 2025, the company expects revenue between $9.14 billion and $9.19 billion, up 14% from $8.03 billion a year ago, and non-GAAP earnings per diluted share between $3.18 and $3.24, compared to $5.67 a year earlier.

DexCom Inc.  gained 0.9% to $84.89 after the provider of monitoring systems for diabetes management reported an 8% revenue growth in the fourth quarter ending in December.

Revenue increased to $1.11 billion from $1.03 billion, net income fell to $151.7 million from $256.3 million, and earnings per diluted share dropped to 38 cents from 62 cents a year ago.

For fiscal 2025, the company estimated revenue of $4.60 billion, up 14% from $4.03 billion a year ago.

Hyatt Hotels Corp. gained 0.4% to $148.0 despite the international hotels operator reporting losses in the fourth quarter ending in December.

Revenue dropped to $1.60 billion from $1.66 billion, net income swung to a loss of $56 million from a profit of $26 million, and loss per diluted share was 58 cents, compared to a profit of 25 cents a year ago.

For fiscal 2025, the company estimated net income between $190 million and $240 million, compared to $1.30 billion a year ago, and net rooms growth between 6% and 7%, compared to 7.8% a year earlier.

Airbnb Inc. jumped 14% to $161.01, and the online vacation rental company reported sharply higher revenue and earnings in the fourth quarter.

Revenue increased to $2.48 billion from $2.22 billion, net income swung to a profit of $461 million from a net loss of $349 million, and earnings per share rose to 73 cents from a loss of 55 cents a year ago.

The company repurchased $838 million of class A common stock in the quarter, and a total of $3.4 billion worth of shares during the full year 2024.

Full-year revenue jumped to $11.10 billion from $9.92 billion, net income dropped to $2.65 billion from $4.79 billion, and earnings per diluted share declined to $4.11 from $7.24 a year ago.

For the first quarter of 2025, the company estimated revenue between $2.23 billion and $2.27 billion, below some analysts’ expectations, and compared to $2.14 billion a year ago.

U.S. Movers: Applied Materials, DexCom, Hyatt Hotels, Moody's, Palo Alto Networks, Sony

Scott Peters
14 Feb, 2025
New York City

Sony Corp. surged 3.06% to $23.90 after the electronics and media company reported steady revenue and profit growth for the third quarter ending in December.

Total sales increased to ¥4.41 billion from ¥3.75 billion, net income rose to ¥373.74 million from ¥363.92 million, and earnings per diluted share climbed to ¥61.82 from ¥58.96 a year ago.

The company estimated full-year sales of ¥13.2 trillion ($87.6 billion) on the back of strong performance in its gaming and music business in the third quarter, and compared to ¥13.02 trillion a year ago.

Sony also raised its outlook for annual operating profit to ¥1.34 trillion ($87.6 billion), a 2% increase from the previous financial year.

Applied Materials Inc. dropped 5% to $175 after the software applications provider reported a 7% revenue growth in the first quarter ended January 26, but profit declined.

Revenue jumped 7% to $7.17 billion from $6.71 billion, net income declined 41% to $1.18 billion from $2.02 billion, and earnings per diluted share dropped 40% to $.145 from $2.41 a year ago.

For the second quarter, the company estimated revenue of $7.10 billion, compared to $6.65 billion a year ago, and non-GAAP diluted earnings per share of $2.30, compared to $2.09 a year earlier.

Non-GAAP gross margin is estimated at 48.4% in the second quarter, compared to 47.5% in the same quarter last year.

Moody's Corp. surged 4.4% to $527.48 after the financial services and credit ratings company reported strong revenue and earnings growth in the fourth quarter ending in December.

Revenue increased to $1.67 billion from $1.48 billion, net income jumped to $395 million from $340 million, and earnings per diluted share rose to $2.17 from $1.85 a year ago.

For fiscal 2025, the company estimated earnings per diluted share between $12.75 and $13.25, compared to $11.26 a year ago.

Palo Alto Networks Inc. dropped 5.1% to $191.59 after the cyber security company reported declining profit in the second quarter of 2025 ending in January.

Revenue jumped 14% to $2.26 billion from $1.97 billion, net income plunged to $267.3 million from $1.75 billion, and earnings per diluted share fell to 38 cents from $2.44 a year ago.

For the third quarter of 2025, the company estimated revenue between $2.26 billion and $2.29 billion, up 14%-15% from $2.0 billion a year ago, and non-GAAP earnings per diluted share between 76 cents and 77 cents, compared to $1.32 a year ago.

For fiscal 2025, the company expects revenue between $9.14 billion and $9.19 billion, up 14% from $8.03 billion a year ago, and non-GAAP earnings per diluted share between $3.18 and $3.24, compared to $5.67 a year earlier.

DexCom Inc.  gained 0.9% to $84.89 after the provider of monitoring systems for diabetes management reported an 8% revenue growth in the fourth quarter ending in December.

Revenue increased to $1.11 billion from $1.03 billion, net income fell to $151.7 million from $256.3 million, and earnings per diluted share dropped to 38 cents from 62 cents a year ago.

For fiscal 2025, the company estimated revenue of $4.60 billion, up 14% from $4.03 billion a year ago.

Hyatt Hotels Corp. gained 0.4% to $148.0 despite the international hotels operator reporting losses in the fourth quarter ending in December.

Revenue dropped to $1.60 billion from $1.66 billion, net income swung to a loss of $56 million from a profit of $26 million, and loss per diluted share was 58 cents, compared to a profit of 25 cents a year ago.

For fiscal 2025, the company estimated net income between $190 million and $240 million, compared to $1.30 billion a year ago, and net rooms growth between 6% and 7%, compared to 7.8% a year earlier.

Europe Movers: Eutelsat, Hermes, Moncler, NatWest, Safran, SEGRO

Inga Muller
14 Feb, 2025
Frankfurt

European markets struggled in Friday's trading, but they are set to extend weekly gains by 2%. 

Germany's wholesale price inflation accelerated in January. 

Luxury stocks in Paris and Milan led the gainers after Hermes International reported an increase in profit in 2024.

The DAX index decreased by 0.1% to 22,579.95, the CAC-40 index edged higher 0.4% to 8,200.30, and the FTSE 100 index declined by 0.2% to 8,746.41. 

For the week, the DAX index advanced 3%, the CAC 40 gained 2.5%, and the FTSE 100 index increased 0.6%.

The yield on 10-year German bonds inched higher to 2.43%, French bonds increased to 3.12%, the UK gilts moved up to 4.51%, and Italian bonds edged higher to 3.51%.

Moncler SpA surged 8.8% to €67.92 after the Italian luxury fashion retailer reported steady revenue growth in fiscal 2024 ending in December.

Revenue increased to €3.11 billion from €2.98 billion, gross profit climbed to €2.43 billion from €2.30 billion, and net income jumped to €639.6 million from €611.93 million a year ago.

In the fourth quarter, the group revenues increased 8% to €1.24 billion from €1.18 billion a year ago, and the Moncler and Stone Island brands recorded sales of €1.13 billion and €109.2 million, respectively.

Moncler reported growth in all three geographic locations, including Asia, Europe, Middle East and Africa, and the Americas.

The Board of Directors also approved the proposal of a dividend distribution of €1.30 per share. 

Hermes International advanced 0.6% to €2,832.0 after the luxury goods maker reported profit in 2024 rose from the previous year.

Revenue increased to €15.17 billion from €13.43 billion, net income climbed to €4.60 billion from €4.31 billion, and earnings per diluted share rose to €43.87 from €41.12 a year ago.

The company reported growth in all segments and across all geographical regions, except for the watches business, which was down 4%.

Hermes will pay an interim dividend of €3.50 per share on February 19.

The company plans to propose additional dividend of €16.0 per share, after deducting €3.50 per share, as well as an exceptional dividend of €10.0 per share during the annual general meeting on April 30.

Safran SA advanced 0.1% to €245.90 after the jet engine maker revised higher its profit and cash estimate for 2025.

Revenue in fiscal 2024 increased 18% to €27.32 billion from €23.20 billion, profit surged 51% to €3.07 billion from €2.03 billion, and earnings per diluted share rose 55% to €7.29 from €4.70 a year ago.

The company plans to propose a dividend of €2.90 per share for 2024, compared to €2.20 a year ago, during the annual shareholder meeting on May 22.

Safran purchased €1.3 billion worth of its own shares in several tranches totaling 6.5 million shares during 2024.

As of December 31, the company’s share capital comprised 423,632,587 shares of which 6,857,467 treasury shares or about 1.6% of total shareholder capital.

NatWest Group PLC decreased 3.2% to 423.18 pence despite the financial services company reporting solid financial performance and higher earnings in 2024.

SEGRO plc increased 0.8% to 727.60 pence despite the UK-based warehousing company reporting a double-digit increase in profit in 2024.

Eutelsat Communications SA dropped 15% to €1.45, and the French satellite company reported a wider loss in the fiscal first half.

Europe Movers: Eutelsat, Hermes, Moncler, NatWest, Safran, SEGRO

Inga Muller
14 Feb, 2025
Frankfurt

European markets struggled in Friday's trading, but they are set to extend weekly gains by 2%. 

Germany's wholesale price inflation accelerated in January. 

Luxury stocks in Paris and Milan led the gainers after Hermes International reported an increase in profit in 2024.

The DAX index decreased by 0.1% to 22,579.95, the CAC-40 index edged higher 0.4% to 8,200.30, and the FTSE 100 index declined by 0.2% to 8,746.41. 

For the week, the DAX index advanced 3%, the CAC 40 gained 2.5%, and the FTSE 100 index increased 0.6%.

The yield on 10-year German bonds inched higher to 2.43%, French bonds increased to 3.12%, the UK gilts moved up to 4.51%, and Italian bonds edged higher to 3.51%.

Mocler SpA surged 8.8% to €67.92 after the Italian luxury fashion retailer reported steady revenue growth in fiscal 2024 ending in December.

Revenue increased to €3.11 billion from €2.98 billion, gross profit climbed to €2.43 billion from €2.30 billion, and net income jumped to €639.6 million from €611.93 million a year ago.

In the fourth quarter, the group revenues increased 8% to €1.24 billion from €1.18 billion a year ago, and the Moncler and Stone Island brands recorded sales of €1.13 billion and €109.2 million, respectively.

Moncler reported growth in all three geographic locations, including Asia, Europe, Middle East and Africa, and the Americas.

The Board of Directors also approved the proposal of a dividend distribution of €1.30 per share. 

Hermes International advanced 0.6% to €2,832.0 after the luxury goods maker reported profit in 2024 rose from the previous year.

Safran SA advanced 0.1% to €245.90 after the jet engine maker revised higher its profit and cash estimate for 2025.

NatWest Group PLC decreased 3.2% to 423.18 pence despite the financial services company reporting solid financial performance and higher earnings in 2024.

SEGRO plc increased 0.8% to 727.60 pence despite the UK-based warehousing company reporting a double-digit increase in profit in 2024.

Eutelsat Communications SA dropped 15% to €1.45, and the French satellite company reported a wider loss in the fiscal first half.

Earnings Momentum and Rate Outlook Extend European Market Rally to Eighth Week

Bridgette Randall
14 Feb, 2025
Frankfurt

European markets traded near record highs, and they are likely to extend gains for the eighth consecutive week. 

Benchmark indexes in Frankfurt and London traded near record highs, and indexes in Milan and Paris edged higher after positive results from Hermes International.

Investors have remained positive despite a string of weak macroeconomic data amid positive earnings from leading corporations over the last three weeks. 

Moreover, market sentiment was boosted by the European Central Bank's first rate cut in 2025, lifting hopes that the central bank will follow through with additional rate cuts totaling at least 100 basis points. 

Investors have largely overlooked the tariff tantrum coming from the White House in Washington, D.C., as most corporations are resolved to rely on alternative supply chains or pass on higher prices to the U.S. customers.

Trump's tariffs are most likely to fail in forcing the European companies to shift more production to the U.S. or help domestic companies, because most European products have few U.S. competitors.

On the economic front, Germany's wholesale prices rose at an annual pace of 0.9%, accelerating from 0.1% in the previous month, the Federal Statistics Office, or Destatis, reported Friday. 

Wholesale prices rose for the second month in a row and advanced at the fastest pace since April 2023, confirming that manufacturers are increasingly passing on higher costs driven by the resurgent energy prices to consumers. 

Europe Indexes and Yields

The DAX index decreased by 0.1% to 22,579.95, the CAC-40 index edged higher 0.4% to 8,200.30, and the FTSE 100 index declined by 0.2% to 8,746.41. 

For the week, the DAX index advanced 3%, the CAC 40 gained 2.5%, and the FTSE 100 index increased 0.6%.

The yield on 10-year German bonds inched higher to 2.43%, French bonds increased to 3.12%, the UK gilts moved up to 4.51%, and Italian bonds edged higher to 3.51%.

The euro increased to $1.05; the British pound was higher at $1.26; and the U.S. dollar was lower and traded at 91.14 Swiss cents.

Brent crude decreased $0.38 to $75.40 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.

Europe Stock Movers

Hermes International advanced 0.6% to €2,832.0 after the luxury goods maker reported profit in 2024 rose from the previous year.

Safran SA advanced 0.1% to €245.90 after the jet engine maker revised higher its profit and cash estimate for 2025.

NatWest Group PLC decreased 3.2% to 423.18 pence despite the financial services company reporting solid financial performance and higher earnings in 2024.

SEGRO plc increased 0.8% to 727.60 pence despite the UK-based warehousing company reporting a double-digit increase in profit in 2024.

Eutelsat Communications SA dropped 15% to €1.45, and the French satellite company reported a wider loss in the fiscal first half.

Earnings Momentum and Rate Outlook Extends European Market Rally to Eighth Week

Bridgette Randall
14 Feb, 2025
Frankfurt

European markets traded near record highs, and they are likely to extend gains for the eighth consecutive week. 

Benchmark indexes in Frankfurt and London traded near record highs, and indexes in Milan and Paris edged higher after positive results from Hermes International.

Investors have remained positive despite a string of weak macroeconomic data amid positive earnings from leading corporations over the last three weeks. 

Moreover, market sentiment was boosted by the European Central Bank's first rate cut in 2025, lifting hopes that the central bank will follow through with additional rate cuts totaling at least 100 basis points. 

Investors have largely overlooked the tariff tantrum coming from the White House in Washington, D.C., as most corporations are resolved to rely on alternative supply chains or pass on higher prices to the U.S. customers.

Trump's tariffs are most likely to fail in forcing the European companies to shift more production to the U.S. or help domestic companies, because most European products have few U.S. competitors.

On the economic front, Germany's wholesale prices rose at an annual pace of 0.9%, accelerating from 0.1% in the previous month, the Federal Statistics Office, or Destatis, reported Friday. 

Wholesale prices rose for the second month in a row and advanced at the fastest pace since April 2023, confirming that manufacturers are increasingly passing on higher costs driven by the resurgent energy prices to consumers. 

Europe Indexes and Yields

The DAX index decreased by 0.1% to 22,579.95, the CAC-40 index edged higher 0.4% to 8,200.30, and the FTSE 100 index declined by 0.2% to 8,746.41. 

For the week, the DAX index advanced 3%, the CAC 40 gained 2.5%, and the FTSE 100 index increased 0.6%.

The yield on 10-year German bonds inched higher to 2.43%, French bonds increased to 3.12%, the UK gilts moved up to 4.51%, and Italian bonds edged higher to 3.51%.

The euro increased to $1.05; the British pound was higher at $1.26; and the U.S. dollar was lower and traded at 91.14 Swiss cents.

Brent crude decreased $0.38 to $75.40 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.

Europe Stock Movers

Hermes International advanced 0.6% to €2,832.0 after the luxury goods maker reported profit in 2024 rose from the previous year.

Safran SA advanced 0.1% to €245.90 after the jet engine maker revised higher its profit and cash estimate for 2025.

NatWest Group PLC decreased 3.2% to 423.18 pence despite the financial services company reporting solid financial performance and higher earnings in 2024.

SEGRO plc increased 0.8% to 727.60 pence despite the UK-based warehousing company reporting a double-digit increase in profit in 2024.

Eutelsat Communications SA dropped 15% to €1.45, and the French satellite company reported a wider loss in the fiscal first half.

Japan Indexes Halt 3-Day Rally; Sony Group and Toppan Holdings Advance After Earnings Releases

Akira Ito
14 Feb, 2025
Tokyo

Stock market indexes in Tokyo halted a three-day rally, and the yen rebounded in Friday's trading. 

The Nikkei 225 stock average declined 0.8%, and the TOPIX decreased 0.2%, but the benchmark indexes extended the weekly advance to 1%.

The Japanese yen recovered to 152.45 against the U.S. dollar on speculation that the Bank of Japan will continue its interest rate hike campaign at the next meeting. 

Two hotter-than-expected inflation reports confirmed that inflation is well anchored in the U.S., and the Federal Reserve is less likely to lower rates in the near future. 

Producer price inflation in January advanced at an annual pace of 3.5%, and consumer price inflation accelerated to 3.0% from 2.9% in December.

Both measures of inflation were ahead of market expectations, setting the stage for the U.S. policymakers to wait a little longer before considering lowering rates. 

Japan Indexes 

The Nikkei 225 Stock Average decreased 0.8% to 39,149.43, and the broader index, TOPIX, eased 0.2% to 2,759.21.

Japan Stocks 

Resonac Holdings decreased 5% to ¥3,681.0 after the specialty chemical company reported results for 2024. 

Consolidated revenue in 2024 increased to 1.38 billion yen from 1.28 billion yen, net income swung to a profit of 55.4 billion yen from a loss of 19 billion yen, and basic earnings per share were a profit of 306.6 yen compared to a loss of 104.65 yen a year ago.

Toppan Holdings soared 15.5% to ¥4,703.0 after the printing company retained its annual sales outlook. 

Net sales increased 4.1% to 432.5 billion yen, and net income advanced 1.8% to 40.4 billion yen.

The company reiterated its full-year revenue estimate of 1.72 trillion yen, net income of 80 billion yen compared to the previous estimate of 70 billion yen, and dividend per share of 48 yen.

Honda Motor advanced 2.5% to ¥1,469.50, and Nissan Motor gained 2.5% to ¥425.70 after the two companies ended their merger talks but agreed to look for ways to cooperate on projects of common interest. 

The much ballyhooed merger talks were driven by the government pressure after two companies struggled amid rising competition from Chinese electric vehicle makers.

Sony Group soared 8.6% to ¥3,705.0 after the technology and financial services company reported better-than-expected results, and the company raised its full-year sales forecast. 

Profit in the fiscal third quarter ending in December soared 37%, driven by the strength in its  gaming unit and PlayStation 5 sales increased to 9.4 million units. 

In a wider trading, Mitsubishi Materials, Japan Steel Works, and Japan Tobacco fell around 3%.

Tokyo Gas, Trend Micro, and Taiheiyo Cement advanced between 2% and 4%. 

Japan Indexes Halt 3-Day Rally; Sony Group and Toppan Holdings Advance After Earnings Releases

Akira Ito
14 Feb, 2025
Tokyo

Stock market indexes in Tokyo halted a three-day rally, and the yen rebounded in Friday's trading. 

The Nikkei 225 stock average declined 0.8%, and the TOPIX decreased 0.2%, but the benchmark indexes extended the weekly advance to 1%.

The Japanese yen recovered to 152.45 against the U.S. dollar on speculation that the Bank of Japan will continue its interest rate hike campaign at the next meeting. 

Two hotter-than-expected inflation reports confirmed that inflation is well anchored in the U.S., and the Federal Reserve is less likely to lower rates in the near future. 

Producer price inflation in January advanced at an annual pace of 3.5%, and consumer price inflation accelerated to 3.0% from 2.9% in December.

Both measures of inflation were ahead of market expectations, setting the stage for the U.S. policymakers to wait a little longer before considering lowering rates. 

Japan Indexes 

The Nikkei 225 Stock Average decreased 0.8% to 39,149.43, and the broader index, TOPIX, eased 0.2% to 2,759.21.

Japan Stocks 

Resonac Holdings decreased 5% to ¥3,681.0 after the specialty chemical company reported results for 2024. 

Consolidated revenue in 2024 increased to 1.38 billion yen from 1.28 billion yen, net income swung to a profit of 55.4 billion yen from a loss of 19 billion yen, and basic earnings per share were a profit of 306.6 yen compared to a loss of 104.65 yen a year ago.

Toppan Holdings soared 15.5% to ¥4,703.0 after the printing company retained its annual sales outlook. 

Net sales increased 4.1% to 432.5 billion yen, and net income advanced 1.8% to 40.4 billion yen.

The company reiterated its full-year revenue estimate of 1.72 trillion yen, net income of 80 billion yen compared to the previous estimate of 70 billion yen, and dividend per share of 48 yen.

Honda Motor advanced 2.5% to ¥1,469.50, and Nissan Motor gained 2.5% to ¥425.70 after the two companies ended their merger talks but agreed to look for ways to cooperate on projects of common interest. 

The much ballyhooed merger talks were driven by the government pressure after two companies struggled amid rising competition from Chinese electric vehicle makers.

Sony Group soared 8.6% to ¥3,705.0 after the technology and financial services company reported better-than-expected results, and the company raised its full-year sales forecast. 

Profit in the fiscal third quarter ending in December soared 37%, driven by the strength in its  gaming unit and PlayStation 5 sales increased to 9.4 million units. 

In a wider trading, Mitsubishi Materials, Japan Steel Works, and Japan Tobacco fell around 3%.

Tokyo Gas, Trend Micro, and Taiheiyo Cement advanced between 2% and 4%. 

AI Euphoria Extends Hang Seng Index Rally to Fifth Consecutive Week

Li Chen
14 Feb, 2025
Hong Kong

Stock market indexes in China and Hong Kong extended weekly gains amid artificial intelligence euphoria. 

The Hang Seng index soared more than 2% and extended the weekly rise to above 5%, and the benchmark index rallied for the fifth week in a row. 

The Mainland China-focused CSI 300 index advanced 0.7% and extended the weekly gain to 1% amid a cautiously positive outlook for fiscal stimulus. 

The Hang Seng Tech Index, which tracks leading semiconductor and Internet-based service providers, jumped to a new high since October, amid optimism that the affordable artificial intelligence technology-based tools and products may kick off another cycle of earnings growth. 

Investors continued to bid up stocks of Baidu Inc, Alibaba Group, Tencent Holdings, JD.com, and SMIC. 

Investors overlooked the growing possibilities of Hong Kong interest rates staying higher for longer, after two hotter-than-expected inflation reports confirmed that the U.S. Federal Reserve is likely to hold rates in the near future. 

China Indexes and Stocks 

The Hang Seng index jumped 2.5% to 22,362.88 and the mainland-focused CSI 300 index added 0.7% to 3,930.73. 

Alibaba Group Holding gained 3.2% to HK $120.50, Baidu Inc advanced 1% to HK $94.90, Tencent Holdings gained 5.5% to HK $466.40, and JD.com gained 4.4% to HK $158.10.

Semiconductor Manufacturing International decreased 4.4% to HK $44.15, and the Chinese government controlled foundry traded at a new record high amid optimism about the demand surge  in artificial intelligence-linked chips. 

AI Euphoria Extends Hang Seng Index Rally to Fifth Consecutive Week

Li Chen
14 Feb, 2025
Hong Kong

Stock market indexes in China and Hong Kong extended weekly gains amid artificial intelligence euphoria. 

The Hang Seng index soared more than 2% and extended the weekly rise to above 5%, and the benchmark index rallied for the fifth week in a row. 

The Mainland China-focused CSI 300 index advanced 0.7% and extended the weekly gain to 1% amid a cautiously positive outlook for fiscal stimulus. 

The Hang Seng Tech Index, which tracks leading semiconductor and Internet-based service providers, jumped to a new high since October, amid optimism that the affordable artificial intelligence technology-based tools and products may kick off another cycle of earnings growth. 

Investors continued to bid up stocks of Baidu Inc, Alibaba Group, Tencent Holdings, JD.com, and SMIC. 

Investors overlooked the growing possibilities of Hong Kong interest rates staying higher for longer, after two hotter-than-expected inflation reports confirmed that the U.S. Federal Reserve is likely to hold rates in the near future. 

China Indexes and Stocks 

The Hang Seng index jumped 2.5% to 22,362.88 and the mainland-focused CSI 300 index added 0.7% to 3,930.73. 

Alibaba Group Holding gained 3.2% to HK $120.50, Baidu Inc advanced 1% to HK $94.90, Tencent Holdings gained 5.5% to HK $466.40, and JD.com gained 4.4% to HK $158.10.

Semiconductor Manufacturing International decreased 4.4% to HK $44.15, and the Chinese government controlled foundry traded at a new record high amid optimism about the demand surge  in artificial intelligence-linked chips. 

India Movers: Godfrey Phillips, Hindalco, Lux Industries, Manappuram Finance, MMTC, SJVN, United Breweries

Arun Goswami
14 Feb, 2025
Mumbai

The Sensex and Nifty indexes extended weekly losses to over 2% amid persistent outflow of foreign funds and weak earnings growth outlook. 

The Sensex index fell by 0.3% to 75,935.79, and the Nifty index decreased by 0.2% to 22,950.55.

On the Mumbai stock exchange, 31 stocks traded at their 52-week highs, and 243 stocks traded at their 52-week lows.

Hindalco Industries Ltd. advanced 0.3% to ₹604 after the copper producer reported an 11% rise in revenue in the December quarter.

Consolidated revenue increased to ₹58,899 crore from ₹53,088 crore, net income advanced to ₹3,735 crore from ₹2,331 crore, and diluted earnings per share rose to ₹16.82 from ₹10.50 a year ago.

Godfrey Phillips India Ltd. increased 13% to ₹5,617.90 after the flagship company of Modi Enterprises reported a 47% jump in its earnings in the December quarter.

Consolidated revenue increased to ₹1,942.8 crore from ₹1,544.7 crore, after-tax profit rose to ₹315.8 crore from ₹212.4 crore, and diluted earnings per share jumped to ₹60.95 from ₹40.85 a year ago.

Manappuram Finance Ltd. fell 6% to ₹182.70, and the non-banking financial company reported a sharp decline in net income in the December quarter.

Consolidated revenue increased to ₹2,559.7 crore from ₹2,305.2 crore, net income fell to ₹278.5 crore from ₹575.3 crore, and diluted earnings per share decreased to ₹3.29 from ₹6.79 a year ago.

Lux Industries Ltd. declined 3% to ₹1,432, despite the innerwear products maker reporting a 55% surge in profit in the December quarter.

Consolidated revenue advanced to ₹557.30 crore from ₹454.46 crore, after-tax profit jumped to ₹32.6 crore from ₹21 crore, and diluted earnings per share rose to ₹10.85 from ₹6.97 a year ago.

MMTC Limited plunged 4% to ₹59.15 after the commodities trading company controlled by the central government reported a sharp decline in quarterly revenue and earnings.

Consolidated revenue decreased to ₹35.3 crore from ₹63.3 crore, after-tax profit fell to ₹3.6 crore from ₹5.7 crore, and diluted earnings per share dropped to 2 paisa from 37 paisa a year ago.

SJVN Ltd. decreased 1% to ₹91.73, and the hydroelectric power supplier reported a rise in revenue and net income in the December quarter.

Consolidated revenue increased to ₹760.8 crore from ₹607.7 crore, after-tax profit rose to ₹148.7 crore from ₹139 crore, and diluted earnings per share advanced to 39 paisa from 33 paisa a year ago.

The company's board declared an interim dividend of ₹1.15 per share, payable on March 6 or after.

United Breweries Limited rose 4% to ₹2,105.15 after the alcoholic beverage maker reported a slight increase in revenue and a 55% decline in profit in the December quarter.

Consolidated revenue increased to ₹4,436.7 crore from ₹4,179.8 crore, net income fell to ₹38.5 crore from ₹85.8 crore, and diluted earnings per share declined to ₹1.45 from ₹3.23 a year ago.

Ipca Laboratories Ltd. fell 3% to ₹1,452.10, despite the pharmaceutical company reporting a rise in revenue and earnings in the December quarter. 

Consolidated revenue increased to ₹2,265.5 crore from ₹2,075.3 crore, after-tax profit advanced to ₹277.3 crore from ₹222.6 crore, and diluted earnings per share rose to ₹9.78 from ₹7.09 a year ago.

India Movers: Godfrey Phillips, Hindalco, Lux Industries, Manappuram Finance, MMTC, SJVN, United Breweries

Arun Goswami
14 Feb, 2025
Mumbai

The Sensex and Nifty indexes extended weekly losses to over 2% amid persistent outflow of foreign funds and weak earnings growth outlook. 

The Sensex index fell by 0.3% to 75,935.79, and the Nifty index decreased by 0.2% to 22,950.55.

On the Mumbai stock exchange, 31 stocks traded at their 52-week highs, and 243 stocks traded at their 52-week lows.

Hindalco Industries Ltd. advanced 0.3% to ₹604 after the copper producer reported an 11% rise in revenue in the December quarter.

Consolidated revenue increased to ₹58,899 crore from ₹53,088 crore, net income advanced to ₹3,735 crore from ₹2,331 crore, and diluted earnings per share rose to ₹16.82 from ₹10.50 a year ago.

Godfrey Phillips India Ltd. increased 13% to ₹5,617.90 after the flagship company of Modi Enterprises reported a 47% jump in its earnings in the December quarter.

Consolidated revenue increased to ₹1,942.8 crore from ₹1,544.7 crore, after-tax profit rose to ₹315.8 crore from ₹212.4 crore, and diluted earnings per share jumped to ₹60.95 from ₹40.85 a year ago.

Manappuram Finance Ltd. fell 6% to ₹182.70, and the non-banking financial company reported a sharp decline in net income in the December quarter.

Consolidated revenue increased to ₹2,559.7 crore from ₹2,305.2 crore, net income fell to ₹278.5 crore from ₹575.3 crore, and diluted earnings per share decreased to ₹3.29 from ₹6.79 a year ago.

Lux Industries Ltd. declined 3% to ₹1,432, despite the innerwear products maker reporting a 55% surge in profit in the December quarter.

Consolidated revenue advanced to ₹557.30 crore from ₹454.46 crore, after-tax profit jumped to ₹32.6 crore from ₹21 crore, and diluted earnings per share rose to ₹10.85 from ₹6.97 a year ago.

MMTC Limited plunged 4% to ₹59.15 after the commodities trading company controlled by the central government reported a sharp decline in quarterly revenue and earnings.

Consolidated revenue decreased to ₹35.3 crore from ₹63.3 crore, after-tax profit fell to ₹3.6 crore from ₹5.7 crore, and diluted earnings per share dropped to 2 paisa from 37 paisa a year ago.

SJVN Ltd. decreased 1% to ₹91.73, and the hydroelectric power supplier reported a rise in revenue and net income in the December quarter.

Consolidated revenue increased to ₹760.8 crore from ₹607.7 crore, after-tax profit rose to ₹148.7 crore from ₹139 crore, and diluted earnings per share advanced to 39 paisa from 33 paisa a year ago.

The company's board declared an interim dividend of ₹1.15 per share, payable on March 6 or after.

United Breweries Limited rose 4% to ₹2,105.15 after the alcoholic beverage maker reported a slight increase in revenue and a 55% decline in profit in the December quarter.

Consolidated revenue increased to ₹4,436.7 crore from ₹4,179.8 crore, net income fell to ₹38.5 crore from ₹85.8 crore, and diluted earnings per share declined to ₹1.45 from ₹3.23 a year ago.

Ipca Laboratories Ltd. fell 3% to ₹1,452.10, despite the pharmaceutical company reporting a rise in revenue and earnings in the December quarter. 

Consolidated revenue increased to ₹2,265.5 crore from ₹2,075.3 crore, after-tax profit advanced to ₹277.3 crore from ₹222.6 crore, and diluted earnings per share rose to ₹9.78 from ₹7.09 a year ago.