Market Update
Europe Movers: Deutsche Bank, Julius Baer, Kone, Roche, Sanofi
Inga Muller
03 Feb, 2025
Frankfurt
The possibilities of higher trade barriers for the EU's exports to the U.S. come at a critical time as the region is struggling to expand its economic activities and reeling under stiff competition from China.
The DAX index decreased by 1.6% to 21,378.03; the CAC-40 index dropped 1.5% to 7,831.65; and the FTSE 100 index declined by 1.2% to 8,569.99.
The yield on 10-year German bonds inched lower to 2.43%, French bonds declined to 3.15%, the UK gilts moved down to 4.54%, and Italian bonds edged higher to 3.56%.
Automobile makers and advanced semiconductor equipment makers led the decliners across Europe in Monday's trading.
All leading automobile makers in the European Union declined, led by Mercedes-Benz Group AG, which fell 4.3% to €56.39; BMW plunged 4% to €75.42; Volkswagen AG dropped 5.8% to €95.55; and Stellantis NV fell 6% to €12.19.
Among leading tech equipment companies, Infineon Technologies AG decreased 4.2% to €30.74, and ASML Holding dropped 2.7% to €702.80.
Julius Baer Gruppe AG dropped 11% to CHF 56.70 despite the Swiss wealth management company posting strong fiscal year 2024 results, boosted by a substantial tax release.
The Swiss asset management company's new chief executive announced plans to trim its workforce by 5% as the company looks for ways to lower its operating costs.
Fiscal 2024 operating income jumped to CHF 3.86 billion from CHF 3.24 billion, net profit surged to CHF 1.02 billion from CHF 453.4 million, and earnings per diluted share rose to CHF 4.97 from CHF 2.21 a year ago.
Total assets increased to CHF 105.1 billion from CHF 96.79 billion a year earlier.
Operating income in the Americas decreased to CHF 51 million from CHF 63 million, while income advanced in other regions.
Earlier in January, the company agreed to sell its domestic Brazilian wealth management business to Banco BTG Pactual S.A. for CHF 91 million in a deal expected to close in the first quarter of 2025.
Julius Baer is extending its cost reduction program for 2023-2025, aiming at a CHF 110 million gross general expense and personnel cost savings on a run-rate basis by the end of 2025.
The costs to achieve these savings are estimated at approximately CHF 55 million, and they will be booked in 2025.
The company proposed a dividend of CHF 2.60 per share to be paid on April 16 and matched the rate in the previous year.
Kone Oyj dropped 0.9% to €50 after the Finnish elevator engineering company posted lower earnings in the fourth quarter ending in December.
Sales jumped 5.9% to €2.98 billion from €2.81 billion; net income declined 11.5% to €244.5 million from €276.3 million, and earnings per share fell 11.2% to 47 cents from 53 cents a year ago.
The annual growth in new orders declined, driven by the weakness in China, but new orders in the other regions were more stable.
Greater China comprised 23% of total sales, compared to a 27% share a year earlier, and quarterly sales in the region declined 13.3% to €620.5 million from €715.3 million a year ago.
Sales in the new building solutions segment declined 2.2%, while service and modernization sales increased by 11.2% and 13.6%, respectively.
Kone holds a 19.9% stake in Toshiba Elevator and Building Systems Corporation.
The company’s board proposed a dividend of €1.80 to be paid on outstanding class A and class B shares beginning on March 14 and resulting in a total amount of €931.36 million.
Furthermore, the board proposed that the distributable profits of €2.28 billion be retained and carried forward.
Deutsche Bank AG gained 0.2% to €18.94 after Germany’s largest bank reported an increase in revenue in the fourth quarter ending in December, but profit slumped as a result of a higher provision for legal expenses and restructuring costs.
Revenue climbed 8% to €7.2 billion from €6.7 billion; profit slumped to €106 million from €1.3 billion, and earnings per diluted share declined to 15 cents from 67 cents a year ago.
For fiscal year 2025, the company estimated revenue growth to range between 5.5% and 6.5% to approximately €32 billion.
The bank plans to propose a cash dividend of 68 cents per share, up from 45 cents per share last year, and the company approved a share buyback of €750 million year to date.
Roche Holding AG gained 0.3% to CHF 286 after the Swiss pharmaceutical company reported sales growth in fiscal 2024, but profit declined.
Revenue increased 3% to CHF 60.5 billion from CHF 58.7 billion, net income slumped 26% to CHF 9.19 billion from CHF 12.36 billion, and earnings per diluted share fell to CHF 10.31 from CHF 14.31 a year ago.
Pharmaceutical sales increased by 8%, and diagnostics sales rose by 4%, while excluding COVID-19-related products, which grew by 8%, driven by higher demand for immunodiagnostic products.
The company raised its dividend per share to CHF 9.70 from CHF 9.60 a year earlier.
Sanofi S.A. gained 0.75% to €104.40 after the French pharmaceutical company beat fourth-quarter earnings estimates, driven by improved pipeline momentum.
Revenue increased 9.1% to €10.56 billion from €9.69 billion, net income jumped to €695 million from a net loss of €558 million, and earnings per diluted share rose to 54 cents from a loss of 44 cents a year ago.
Gross profit jumped 5.4% to €7.84 billion from €7.44 billion a year earlier.
The company’s board proposed a dividend of €3.92 for 2024, to be approved by shareholders on April 30, and in 2025 Sanofi plans to buy back shares worth €5 billion.
Europe Movers: Deutsche Bank, Julius Baer, Kone, Roche, Sanofi
Inga Muller
03 Feb, 2025
Frankfurt
The possibilities of higher trade barriers for the EU's exports to the U.S. come at a critical time as the region is struggling to expand its economic activities and reeling under stiff competition from China.
The DAX index decreased by 1.6% to 21,378.03; the CAC-40 index dropped 1.5% to 7,831.65; and the FTSE 100 index declined by 1.2% to 8,569.99.
The yield on 10-year German bonds inched lower to 2.43%, French bonds declined to 3.15%, the UK gilts moved down to 4.54%, and Italian bonds edged higher to 3.56%.
Automobile makers and advanced semiconductor equipment makers led the decliners across Europe in Monday's trading.
All leading automobile makers in the European Union declined, led by Mercedes-Benz Group AG, which fell 4.3% to €56.39; BMW plunged 4% to €75.42; Volkswagen AG dropped 5.8% to €95.55; and Stellantis NV fell 6% to €12.19.
Among leading tech equipment companies, Infineon Technologies AG decreased 4.2% to €30.74, and ASML Holding dropped 2.7% to €702.80.
Julius Baer Gruppe AG dropped 11% to CHF 56.70 despite the Swiss wealth management company posting strong fiscal year 2024 results, boosted by a substantial tax release.
The Swiss asset management company's new chief executive announced plans to trim its workforce by 5% as the company looks for ways to lower its operating costs.
Fiscal 2024 operating income jumped to CHF 3.86 billion from CHF 3.24 billion, net profit surged to CHF 1.02 billion from CHF 453.4 million, and earnings per diluted share rose to CHF 4.97 from CHF 2.21 a year ago.
Total assets increased to CHF 105.1 billion from CHF 96.79 billion a year earlier.
Operating income in the Americas decreased to CHF 51 million from CHF 63 million, while income advanced in other regions.
Earlier in January, the company agreed to sell its domestic Brazilian wealth management business to Banco BTG Pactual S.A. for CHF 91 million in a deal expected to close in the first quarter of 2025.
Julius Baer is extending its cost reduction program for 2023-2025, aiming at a CHF 110 million gross general expense and personnel cost savings on a run-rate basis by the end of 2025.
The costs to achieve these savings are estimated at approximately CHF 55 million, and they will be booked in 2025.
The company proposed a dividend of CHF 2.60 per share to be paid on April 16 and matched the rate in the previous year.
Kone Oyj dropped 0.9% to €50 after the Finnish elevator engineering company posted lower earnings in the fourth quarter ending in December.
Sales jumped 5.9% to €2.98 billion from €2.81 billion; net income declined 11.5% to €244.5 million from €276.3 million, and earnings per share fell 11.2% to 47 cents from 53 cents a year ago.
The annual growth in new orders declined, driven by the weakness in China, but new orders in the other regions were more stable.
Greater China comprised 23% of total sales, compared to a 27% share a year earlier, and quarterly sales in the region declined 13.3% to €620.5 million from €715.3 million a year ago.
Sales in the new building solutions segment declined 2.2%, while service and modernization sales increased by 11.2% and 13.6%, respectively.
Kone holds a 19.9% stake in Toshiba Elevator and Building Systems Corporation.
The company’s board proposed a dividend of €1.80 to be paid on outstanding class A and class B shares beginning on March 14 and resulting in a total amount of €931.36 million.
Furthermore, the board proposed that the distributable profits of €2.28 billion be retained and carried forward.
Deutsche Bank AG gained 0.2% to €18.94 after Germany’s largest bank reported an increase in revenue in the fourth quarter ending in December, but profit slumped as a result of a higher provision for legal expenses and restructuring costs.
Revenue climbed 8% to €7.2 billion from €6.7 billion; profit slumped to €106 million from €1.3 billion, and earnings per diluted share declined to 15 cents from 67 cents a year ago.
For fiscal year 2025, the company estimated revenue growth to range between 5.5% and 6.5% to approximately €32 billion.
The bank plans to propose a cash dividend of 68 cents per share, up from 45 cents per share last year, and the company approved a share buyback of €750 million year to date.
Roche Holding AG gained 0.3% to CHF 286 after the Swiss pharmaceutical company reported sales growth in fiscal 2024, but profit declined.
Revenue increased 3% to CHF 60.5 billion from CHF 58.7 billion, net income slumped 26% to CHF 9.19 billion from CHF 12.36 billion, and earnings per diluted share fell to CHF 10.31 from CHF 14.31 a year ago.
Pharmaceutical sales increased by 8%, and diagnostics sales rose by 4%, while excluding COVID-19-related products, which grew by 8%, driven by higher demand for immunodiagnostic products.
The company raised its dividend per share to CHF 9.70 from CHF 9.60 a year earlier.
Sanofi S.A. gained 0.75% to €104.40 after the French pharmaceutical company beat fourth-quarter earnings estimates, driven by improved pipeline momentum.
Revenue increased 9.1% to €10.56 billion from €9.69 billion, net income jumped to €695 million from a net loss of €558 million, and earnings per diluted share rose to 54 cents from a loss of 44 cents a year ago.
Gross profit jumped 5.4% to €7.84 billion from €7.44 billion a year earlier.
The company’s board proposed a dividend of €3.92 for 2024, to be approved by shareholders on April 30, and in 2025 Sanofi plans to buy back shares worth €5 billion.
European Markets Tumble 2% After U.S. Launches Trade War and Targets EU and Key Trading Partners
Bridgette Randall
03 Feb, 2025
London
Stock market indexes in Europe dropped sharply amid a growing realization that the region's exports are likely to face higher trade barriers to the U.S.
Benchmark indexes in Paris, Milan, Frankfurt, and London plunged between 1.3% and 1.7% after the U.S. slapped tariffs on shipments from its three largest trading partners.
The latest measures include 25% tariffs on all manufactured goods from Mexico and Canada and an additional 10% tariffs on goods imported from China.
The U.S. imports about $1.2 trillion of goods from its three largest trading partners, and the world's largest economy has run deficits for decades with its six key trade partners—Mexico, Canada, China, the European Union, Japan, and Korea.
The European Union exports over €500 billion in goods to the U.S. and imports about €345 billion from the world's largest economy, resulting in a trade surplus of €155 billion.
The European Union's average annual trade surplus has ranged between €100 billion and €160 billion since 2015.
In 2023, the United States was the largest partner for EU exports of goods (19.7%) and the second largest partner for EU imports of goods (13.7%), according to the latest annual statistics available from Eurostat.
Among EU member states, the Netherlands was the largest importer of goods from the United States, and Germany was the largest exporter of goods to the United States in 2023.
Tariffs are federal government taxes on foreign goods paid by U.S. consumers, and the new round of trade barriers will certainly stoke inflation and force the U.S. Federal Reserve to keep rates higher for longer.
The newly appointed Republican Party administration is seeking a halt of all illegal migrants from its two neighboring partners and curtailing of illegal shipments of dangerous drugs.
Europe Indexes and Yields
The DAX index decreased by 1.6% to 21,378.03; the CAC-40 index dropped 1.5% to 7,831.65; and the FTSE 100 index declined by 1.2% to 8,569.99.
The yield on 10-year German bonds inched lower to 2.43%, French bonds declined to 3.15%, the UK gilts moved down to 4.54%, and Italian bonds edged higher to 3.56%.
The euro declined to $1.02; the British pound was lower at $1.23; and the U.S. dollar was higher and traded at 91.92 Swiss cents.
Brent crude increased $0.88 to $76.55 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Automobile makers and advanced semiconductor equipment makers led the decliners across Europe in Monday's trading.
All leading automobile makers in the European Union declined, led by Mercedes-Benz Group AG, which fell 4.3% to €56.39; BMW plunged 4% to €75.42; Volkswagen AG dropped 5.8% to €95.55; and Stellantis NV fell 6% to €12.19.
Among leading tech equipment companies, Infineon Technologies AG decreased 4.2% to €30.74, and ASML Holding dropped 2.7% to €702.80.
Julius Baer Gruppe AG dropped 11% to CHF 56.70 despite the Swiss wealth management company posting strong fiscal year 2024 results, boosted by a substantial tax release.
The Swiss asset management company's new chief executive announced plans to trim its workforce by 5% as the company looks for ways to lower its operating costs.
European Markets Tumble 2% After U.S. Launches Trade War and Targets EU and Key Trading Partners
Bridgette Randall
03 Feb, 2025
London
Stock market indexes in Europe dropped sharply amid a growing realization that the region's exports are likely to face higher trade barriers to the U.S.
Benchmark indexes in Paris, Milan, Frankfurt, and London plunged between 1.3% and 1.7% after the U.S. slapped tariffs on shipments from its three largest trading partners.
The latest measures include 25% tariffs on all manufactured goods from Mexico and Canada and an additional 10% tariffs on goods imported from China.
The U.S. imports about $1.2 trillion of goods from its three largest trading partners, and the world's largest economy has run deficits for decades with its six key trade partners—Mexico, Canada, China, the European Union, Japan, and Korea.
The European Union exports over €500 billion in goods to the U.S. and imports about €345 billion from the world's largest economy, resulting in a trade surplus of €155 billion.
The European Union's average annual trade surplus has ranged between €100 billion and €160 billion since 2015.
In 2023, the United States was the largest partner for EU exports of goods (19.7%) and the second largest partner for EU imports of goods (13.7%), according to the latest annual statistics available from Eurostat.
Among EU member states, the Netherlands was the largest importer of goods from the United States, and Germany was the largest exporter of goods to the United States in 2023.
Tariffs are federal government taxes on foreign goods paid by U.S. consumers, and the new round of trade barriers will certainly stoke inflation and force the U.S. Federal Reserve to keep rates higher for longer.
The newly appointed Republican Party administration is seeking a halt of all illegal migrants from its two neighboring partners and curtailing of illegal shipments of dangerous drugs.
Europe Indexes and Yields
The DAX index decreased by 1.6% to 21,378.03; the CAC-40 index dropped 1.5% to 7,831.65; and the FTSE 100 index declined by 1.2% to 8,569.99.
The yield on 10-year German bonds inched lower to 2.43%, French bonds declined to 3.15%, the UK gilts moved down to 4.54%, and Italian bonds edged higher to 3.56%.
The euro declined to $1.02; the British pound was lower at $1.23; and the U.S. dollar was higher and traded at 91.92 Swiss cents.
Brent crude increased $0.88 to $76.55 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Automobile makers and advanced semiconductor equipment makers led the decliners across Europe in Monday's trading.
All leading automobile makers in the European Union declined, led by Mercedes-Benz Group AG, which fell 4.3% to €56.39; BMW plunged 4% to €75.42; Volkswagen AG dropped 5.8% to €95.55; and Stellantis NV fell 6% to €12.19.
Among leading tech equipment companies, Infineon Technologies AG decreased 4.2% to €30.74, and ASML Holding dropped 2.7% to €702.80.
Julius Baer Gruppe AG dropped 11% to CHF 56.70 despite the Swiss wealth management company posting strong fiscal year 2024 results, boosted by a substantial tax release.
The Swiss asset management company's new chief executive announced plans to trim its workforce by 5% as the company looks for ways to lower its operating costs.
India Movers: Bandhan Bank, Nestle India, ONGC, Pfizer, PNB, Sun Pharma, Relaxo Footwear, Vedanta
Arun Goswami
03 Feb, 2025
Mumbai
The Sensex and Nifty indexes dropped 1% after the U.S. started a new round of a trade war that will slow down global economic growth and push several nations on the brink of a recession.
Market indexes in Japan and Korea plunged nearly 3%.
The Sensex index decreased by 0.9% to 76,825.15, and the Nifty index declined by 1% to 23,249.55.
On the Mumbai stock exchange, 46 stocks traded at their 52-week highs, and 73 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 and traded at 87.17 against the U.S. dollar.
Resource industry-linked stocks led the decliners in Monday's trading after the rupee dropped to a new record low.
ONGC dropped 3.7% to ₹248.10, Reliance Industries decreased 1.6% to ₹1,244.75, and Coal India plunged 3.7% to ₹371.0.
Software and business services exporters dropped between 1% and 3% on the worries that India will be included in the new round of tariffs that are likely to be announced over the next two months.
TCS decreased 1% to ₹4,030.45, Infosys declined 0.4% to ₹1,844.55, Wipro gained 1.2% to ₹308.80, and HCL Technologies fell 1.4% to ₹1,682.40.
Bandhan Bank Ltd. decreased 2.7% to ₹147.15 after the company reported a 42% plunge in quarterly profit from a year ago.
Consolidated revenue in the December quarter decreased to ₹6,574.6 crore from ₹5,210.6 crore, after-tax profit fell to ₹426.5 crore from ₹732.7 crore, and diluted earnings per share dropped to ₹2.65 from ₹4.55 a year ago.
Nestle India Ltd. increased 1.2% to ₹2,355.35 after the company reported a rise in revenue and net income in the December quarter.
Consolidated revenue in the December quarter increased to ₹4,784.1 crore from ₹4,630.7 crore, net income advanced to ₹688 crore from ₹655.6 crore, and diluted earnings per share rose to ₹7.14 from ₹6.80 a year ago.
Sun Pharmaceutical Industries Ltd. rose 0.1% to ₹1,745 after the company reported a rise in revenue and net income in the December quarter.
Consolidated revenue in the December quarter increased to ₹14,141 crore from ₹12,630.9 crore, after-tax profit rose to ₹2,917.5 crore from ₹2,568 crore, and diluted earnings per share jumped to ₹12.1 from ₹10.5 a year ago.
Vedanta Limited dropped 4.1% to ₹421.90 despite the company saying profit in the December quarter soared 70% from a year ago.
Consolidated revenue in the December quarter increased to ₹39,795 crore from ₹36,320 crore, net income jumped to ₹4,876 crore from ₹2,868 crore, and diluted earnings per share rose to ₹9.02 from ₹5.38 a year ago.
Oil And Natural Gas Corporation Ltd. decreased 4.2% to ₹246.50 after the company reported a decline in earnings in the December quarter.
Consolidated revenue in the December quarter declined to ₹1,68,507 crore from ₹1,71,113.1 crore, after-tax profit fell to ₹9,783.64 crore from ₹10,511.23 crore, and diluted earnings per share jumped to ₹6.85 from ₹8.51 a year ago.
Pfizer Ltd. fell 3.4% to ₹4401.15 after the after the company reported a decline in quarterly profit.
Consolidated revenue in the December quarter increased to ₹580.75 crore from ₹575.82 crore, net income declined to ₹127.6 crore from ₹130 crore, and diluted earnings per share rose to ₹27.89 from ₹28.42 a year ago.
Punjab National Bank decreased 1.7% to ₹97.60 despite reporting a sharp increase in revenue and earnings.
Consolidated revenue in the December quarter increased to ₹1,03,157.8 crore from ₹89,417.5 crore, after-tax profit rose to ₹12,796.8 crore from ₹5,228 crore, and diluted earnings per share jumped to ₹12.07 from ₹5.24 a year ago.
Relaxo Footwears Ltd. decreased 1.8% to ₹546.25 after the company reported a decline in quarterly revenue and earnings.
Consolidated revenue in the December quarter decreased to ₹673.70 crore from ₹718.70 crore, net income fell to ₹33 crore from ₹39 crore, and diluted earnings per share declined to ₹1.32 from ₹1.54 a year ago.
India Movers: Bandhan Bank, Nestle India, ONGC, Pfizer, PNB, Sun Pharma, Relaxo Footwear, Vedanta
Arun Goswami
03 Feb, 2025
Mumbai
The Sensex and Nifty indexes dropped 1% after the U.S. started a new round of a trade war that will slow down global economic growth and push several nations on the brink of a recession.
Market indexes in Japan and Korea plunged nearly 3%.
The Sensex index decreased by 0.9% to 76,825.15, and the Nifty index declined by 1% to 23,249.55.
On the Mumbai stock exchange, 46 stocks traded at their 52-week highs, and 73 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 and traded at 87.17 against the U.S. dollar.
Resource industry-linked stocks led the decliners in Monday's trading after the rupee dropped to a new record low.
ONGC dropped 3.7% to ₹248.10, Reliance Industries decreased 1.6% to ₹1,244.75, and Coal India plunged 3.7% to ₹371.0.
Software and business services exporters dropped between 1% and 3% on the worries that India will be included in the new round of tariffs that are likely to be announced over the next two months.
TCS decreased 1% to ₹4,030.45, Infosys declined 0.4% to ₹1,844.55, Wipro gained 1.2% to ₹308.80, and HCL Technologies fell 1.4% to ₹1,682.40.
Bandhan Bank Ltd. decreased 2.7% to ₹147.15 after the company reported a 42% plunge in quarterly profit from a year ago.
Consolidated revenue in the December quarter decreased to ₹6,574.6 crore from ₹5,210.6 crore, after-tax profit fell to ₹426.5 crore from ₹732.7 crore, and diluted earnings per share dropped to ₹2.65 from ₹4.55 a year ago.
Nestle India ltd. increased 1.2% to ₹2,355.35 after the company reported a rise in revenue and net income in the December quarter.
Consolidated revenue in the December quarter increased to ₹4,784.1 crore from ₹4,630.7 crore, net income advanced to ₹688 crore from ₹655.6 crore, and diluted earnings per share rose to ₹7.14 from ₹6.80 a year ago.
Sun Pharmaceutical Industries Ltd. rose 0.1% to ₹1,745 after the company reported a rise in revenue and net income in the December quarter.
Consolidated revenue in the December quarter increased to ₹14,141 crore from ₹12,630.9 crore, after-tax profit rose to ₹2,917.5 crore from ₹2,568 crore, and diluted earnings per share jumped to ₹12.1 from ₹10.5 a year ago.
Vedanta Limited dropped 4.1% to ₹421.90 despite the company said profit in the December quarter soared 70% from a year ago.
Consolidated revenue in the December quarter increased to ₹39,795 crore from ₹36,320 crore, net income jumped to ₹4,876 crore from ₹2,868 crore, and diluted earnings per share rose to ₹9.02 from ₹5.38 a year ago.
Oil And Natural Gas Corporation Ltd. decreased 4.2% to ₹246.50 after the company reported a decline in earnings in the December quarter.
Consolidated revenue in the December quarter declined to ₹1,68,507 crore from ₹1,71,113.1 crore, after-tax profit fell to ₹9,783.64 crore from ₹10,511.23 crore, and diluted earnings per share jumped to ₹6.85 from ₹8.51 a year ago.
Pfizer Ltd. fell 3.4% to ₹4401.15 after the after the company reported a decline in quarterly profit.
Consolidated revenue in the December quarter increased to ₹580.75 crore from ₹575.82 crore, net income declined to ₹127.6 crore from ₹130 crore, and diluted earnings per share rose to ₹27.89 from ₹28.42 a year ago.
Punjab National Bank decreased 1.7% to ₹97.60 despite the reporting a sharp increase in revenue and earnings.
Consolidated revenue in the December quarter increased to ₹1,03,157.8 crore from ₹89,417.5 crore, after-tax profit rose to ₹12,796.8 crore from ₹5,228 crore, and diluted earnings per share jumped to ₹12.07 from ₹5.24 a year ago.
Relaxo Footwears Ltd. decreased 1.8% to ₹546.25 after the company reported a decline in quarterly revenue and earnings.
Consolidated revenue in the December quarter decreased to ₹673.70 crore from ₹718.70 crore, net income fell to ₹33 crore from ₹39 crore, and diluted earnings per share declined to ₹1.32 from ₹1.54 a year ago.
U.S. Movers: Apple, Intel, Sanmina, Qualcomm, UPS, Visa
Scott Peters
31 Jan, 2025
New York City
Apple Inc. gained 3.3% to $245.65 after the mobile phone device maker beat earnings targets for its first quarter of 2025 ending in December.
Total sales jumped 4% to $124.3 billion from $119.58 billion, net income climbed 7.1% to $36.3 billion from $33.9 billion, and diluted earnings per share rose to $2.40 from $2.18 a year ago.
Net sales in Greater China declined to $18.5 billion from $20.8 billion a year earlier, while sales in the other regions advanced.
Sales of iPhones, wearables, home, and accessories dropped, while Mac, iPad, and the services segments increased.
Apple spent $30 billion on dividends and share repurchases during the first quarter and now plans to pay a dividend of 25 cents per share.
Intel Corp. gained 1.8% to $20.36 despite the CPU products maker swinging to a net loss in the fourth quarter ending in December.
Revenue dropped 7% to $14.3 billion from $15.4 billion; net income swung to a loss of $153 million from a profit of $2.7 billion, and diluted loss per share was 3 cents compared to a positive 63 cents a year ago.
Intel received $1.1 billion from the Department of Commerce under the U.S. Chips and Science Act.
For the first quarter of 2025, the company estimates revenue between $11.7 billion and $12.7 billion and a loss per share of 27 cents.
Visa Inc. surged 2.1% to $343.05 after the payments company reported strong earnings for the first quarter of fiscal year 2025, driven by higher holiday results.
Revenue increased to $9.51 billion from $8.63 billion, net income climbed to $5.12 billion from $4.89 billion, and earnings per share rose to $2.58 from $2.39 a year ago.
The company’s board increased the quarterly cash dividend by 13% to 59 cents per share, and share repurchases and dividends totaled $20.9 billion for the full year.
UPS Inc. slumped 14.1% to $114.9 after the parcel delivery company reported better-than-expected earnings, but revenue fell short of market expectations in the fourth quarter.
The company reached a deal with Amazon, its largest customer, to lower shipment volume by 50% by the second half of 2026.
Revenue increased 1.5% to $25.3 billion from $24.9 billion, operating profit climbed 18.1% to $2.9 billion from $2.5 billion, and earnings per diluted share rose to $2.75 from $1.87 a year ago.
Sanmina Corp. gained 1.7% to $84.21 after the electronics manufacturing services provider beat estimates in the first quarter of 2025.
Sales increased to $2.01 billion from $1.87 billion, net income climbed to $65.0 million from $57.07 million, and earnings per diluted share rose to $1.16 from 98 cents a year ago.
Looking ahead to the second quarter, the company estimates revenue between $1.9 billion and $2.0 billion and earnings per share of $1.30 to $1.40.
As of December 28, 2024, approximately $37 million remained available under the company’s current $300 million stock repurchase program, which has no expiration date.
Qualcomm Inc. gained 1.4% to $174.30 after the intelligent computing company said financial results for its first quarter of 2025 will be released on February 5.
The company announced a quarterly cash dividend of 85 cents per share, payable on March 27 to stockholders on record as of March 6.
Exxon Mobil increased 0.7% to $110.30 after the energy company reported better-than-expected adjusted earnings and free cash flow in the fourth quarter.
Revenue declined 1.1% to $83.43 billion, adjusted earnings per share increased to $1.67 compared to an estimate of $1.55, and free cash flow was $8 billion compared to an estimate of $6.5 billion.
Chevron Corp. declined 1.1% to $154.60 after the energy company reported mixed results in the fourth quarter.
Revenue in the quarter increased to $52.2 billion from $47.2 billion; adjusted earnings per share declined to $2.06, down from $3.45 a year ago.
Atlassian Corp. surged 19.5% to $320.01 after the project management software developer reported better-than-expected results in the fourth quarter.
Revenue in the fiscal second quarter increased 21% to $1.29 billion, and the company's fiscal third quarter revenue was ahead of market estimates.
Deckers Outdoor decreased 12.5% to $195.66 despite the parent company of Hoka and Ugg reporting better-than-expected quarterly results.
Revenue increased 17% to $1.8 billion, net income advanced to $456.7 million from $389.9 million, and diluted earnings per share rose to $3 from $2.52 a year ago.
U.S. Movers: Apple, Intel, Sanmina, Qualcomm, UPS, Visa
Scott Peters
31 Jan, 2025
New York City
Apple Inc. gained 3.3% to $245.65 after the mobile phone device maker beat earnings targets for its first quarter of 2025 ending in December.
Total sales jumped 4% to $124.3 billion from $119.58 billion, net income climbed 7.1% to $36.3 billion from $33.9 billion, and diluted earnings per share rose to $2.40 from $2.18 a year ago.
Net sales in Greater China declined to $18.5 billion from $20.8 billion a year earlier, while sales in the other regions advanced.
Sales of iPhones, wearables, home, and accessories dropped, while Mac, iPad, and the services segments increased.
Apple spent $30 billion on dividends and share repurchases during the first quarter and now plans to pay a dividend of 25 cents per share.
Intel Corp. gained 1.8% to $20.36 despite the CPU products maker swinging to a net loss in the fourth quarter ending in December.
Revenue dropped 7% to $14.3 billion from $15.4 billion; net income swung to a loss of $153 million from a profit of $2.7 billion, and diluted loss per share was 3 cents compared to a positive 63 cents a year ago.
Intel received $1.1 billion from the Department of Commerce under the U.S. Chips and Science Act.
For the first quarter of 2025, the company estimates revenue between $11.7 billion and $12.7 billion and a loss per share of 27 cents.
Visa Inc. surged 2.1% to $343.05 after the payments company reported strong earnings for the first quarter of fiscal year 2025, driven by higher holiday results.
Revenue increased to $9.51 billion from $8.63 billion, net income climbed to $5.12 billion from $4.89 billion, and earnings per share rose to $2.58 from $2.39 a year ago.
The company’s board increased the quarterly cash dividend by 13% to 59 cents per share, and share repurchases and dividends totaled $20.9 billion for the full year.
UPS Inc. slumped 14.1% to $114.9 after the parcel delivery company reported better-than-expected earnings, but revenue fell short of market expectations in the fourth quarter.
The company reached a deal with Amazon, its largest customer, to lower shipment volume by 50% by the second half of 2026.
Revenue increased 1.5% to $25.3 billion from $24.9 billion, operating profit climbed 18.1% to $2.9 billion from $2.5 billion, and earnings per diluted share rose to $2.75 from $1.87 a year ago.
Sanmina Corp. gained 1.7% to $84.21 after the electronics manufacturing services provider beat estimates in the first quarter of 2025.
Sales increased to $2.01 billion from $1.87 billion, net income climbed to $65.0 million from $57.07 million, and earnings per diluted share rose to $1.16 from 98 cents a year ago.
Looking ahead to the second quarter, the company estimates revenue between $1.9 billion and $2.0 billion and earnings per share of $1.30 to $1.40.
As of December 28, 2024, approximately $37 million remained available under the company’s current $300 million stock repurchase program, which has no expiration date.
Qualcomm Inc. gained 1.4% to $174.30 after the intelligent computing company said financial results for its first quarter of 2025 will be released on February 5.
The company announced a quarterly cash dividend of 85 cents per share, payable on March 27 to stockholders on record as of March 6.
Exxon Mobil increased 0.7% to $110.30 after the energy company reported better-than-expected adjusted earnings and free cash flow in the fourth quarter.
Revenue declined 1.1% to $83.43 billion, adjusted earnings per share increased to $1.67 compared to an estimate of $1.55, and free cash flow was $8 billion compared to an estimate of $6.5 billion.
Chevron Corp. declined 1.1% to $154.60 after the energy company reported mixed results in the fourth quarter.
Revenue in the quarter increased to $52.2 billion from $47.2 billion; adjusted earnings per share declined to $2.06, down from $3.45 a year ago.
Atlassian Corp. surged 19.5% to $320.01 after the project management software developer reported better-than-expected results in the fourth quarter.
Revenue in the fiscal second quarter increased 21% to $1.29 billion, and the company's fiscal third quarter revenue was ahead of market estimates.
Deckers Outdoor decreased 12.5% to $195.66 despite the parent company of Hoka and Ugg reporting better-than-expected quarterly results.
Revenue increased 17% to $1.8 billion, net income advanced to $456.7 million from $389.9 million, and diluted earnings per share rose to $3 from $2.52 a year ago.
Wall Street Indexes Register Solid Gains in January, Apple In Focus After Earnings Report
Barry Adams
31 Jan, 2025
New York City
Wall Street indexes extended monthly and weekly gains as investors reviewed the latest batch of earnings and a key measure of inflation.
The S&P 500 index increased 0.5%, and the Nasdaq Composite rose 0.9% after the alternative measure of inflation met investor expectations.
Market indexes are set to close higher in Friday's trading after Apple reported strong quarterly results and provided estimates that matched expectations set by analysts.
Investors also reviewed earnings from Exxon Mobil, Chevron, Intel, KLA Corp, Visa, Mastercard, Deckers Outdoor, and Atlassian Corp.
The Personal Consumption Expenditure price index in December accelerated to an annual rate of 2.6% from 2.4% in November, the U.S. Bureau of Economic Analysis reported Friday.
Core PCE price index held steady at 2.8%.
The alternative measure of inflation understates inflation felt by most families because it includes lower-priced products preferred by consumers to stretch monthly budgets in response to high prices.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.5% to 6,099.70, the Nasdaq Composite edged up 0.9% to 19,865.18, and the Russell 2000 index was up 1.07% to 2,307.45.
The yield on 2-year Treasury notes edged lower to 4.21%, 10-year Treasury notes increased to 4.53%, and 30-year Treasury bonds advanced to 4.77%.
WTI crude oil increased $0.12 to $72.85 a barrel, and natural gas prices edged lower by $0.05 to $3.00 a therm. unit.
Gold rose by $9.21 to $2,805.09 an ounce, and silver edged down by $0.03 to $31.60.
The dollar index, which weighs the US currency against a basket of foreign currencies, climbed 0.23 to 108.41 and traded at a two-year high.
U.S. Stock Movers
Apple Inc. increased 3.1% to $244.97 after the mobile phone device maker reported better-than-expected sales in the fiscal first quarter.
Total sales increased 4% to $124.3 billion, but iPhone sales decreased 1% to $69.1 billion.
Service revenue surged 14% to a record high of $26.3 billion, and the company said fiscal second-quarter revenue is likely to increase in "low-to-mid single digits."
The company reported better-than-expected $2.40 per share.
Exxon Mobil increased 0.7% to $110.30 after the energy company reported better-than-expected adjusted earnings and free cash flow in the fourth quarter.
Revenue declined 1.1% to $83.43 billion, adjusted earnings per share increased to $1.67 compared to an estimate of $1.55, and free cash flow was $8 billion compared to an estimate of $6.5 billion.
Chevron Corp. declined 1.1% to $154.60 after the energy company reported mixed results in the fourth quarter.
Revenue in the quarter increased to $52.2 billion from $47.2 billion; adjusted earnings per share declined to $2.06, down from $3.45 a year ago.
Atlassian Corp. surged 19.5% to $320.01 after the project management software developer reported better-than-expected results in the fourth quarter.
Revenue in the fiscal second quarter increased 21% to $1.29 billion, and the company's fiscal third quarter revenue was ahead of market estimates.
Deckers Outdoor decreased 12.5% to $195.66 despite the parent company of Hoka and Ugg reporting better-than-expected quarterly results.
Revenue increased 17% to $1.8 billion, net income advanced to $456.7 million from $389.9 million, and diluted earnings per share rose to $3 from $2.52 a year ago.
Wall Street Indexes Register Solid Gains in January, Apple In Focus After Earnings Report
Barry Adams
31 Jan, 2025
New York City
Wall Street indexes extended monthly and weekly gains as investors reviewed the latest batch of earnings and a key measure of inflation.
The S&P 500 index increased 0.5%, and the Nasdaq Composite rose 0.9% after the alternative measure of inflation met investor expectations.
Market indexes are set to close higher in Friday's trading after Apple reported strong quarterly results and provided estimates that matched expectations set by analysts.
Investors also reviewed earnings from Exxon Mobil, Chevron, Intel, KLA Corp, Visa, Mastercard, Deckers Outdoor, and Atlassian Corp.
The Personal Consumption Expenditure price index in December accelerated to an annual rate of 2.6% from 2.4% in November, the U.S. Bureau of Economic Analysis reported Friday.
Core PCE price index held steady at 2.8%.
The alternative measure of inflation understates inflation felt by most families because it includes lower-priced products preferred by consumers to stretch monthly budgets in response to high prices.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.5% to 6,099.70, the Nasdaq Composite edged up 0.9% to 19,865.18, and the Russell 2000 index was up 1.07% to 2,307.45.
The yield on 2-year Treasury notes edged lower to 4.21%, 10-year Treasury notes increased to 4.53%, and 30-year Treasury bonds advanced to 4.77%.
WTI crude oil increased $0.12 to $72.85 a barrel, and natural gas prices edged lower by $0.05 to $3.00 a therm. unit.
Gold rose by $9.21 to $2,805.09 an ounce, and silver edged down by $0.03 to $31.60.
The dollar index, which weighs the US currency against a basket of foreign currencies, climbed 0.23 to 108.41 and traded at a two-year high.
U.S. Stock Movers
Apple Inc. increased 3.1% to $244.97 after the mobile phone device maker reported better-than-expected sales in the fiscal first quarter.
Total sales increased 4% to $124.3 billion, but iPhone sales decreased 1% to $69.1 billion.
Service revenue surged 14% to a record high of $26.3 billion, and the company said fiscal second-quarter revenue is likely to increase in "low-to-mid single digits."
The company reported better-than-expected $2.40 per share.
Exxon Mobil increased 0.7% to $110.30 after the energy company reported better-than-expected adjusted earnings and free cash flow in the fourth quarter.
Revenue declined 1.1% to $83.43 billion, adjusted earnings per share increased to $1.67 compared to an estimate of $1.55, and free cash flow was $8 billion compared to an estimate of $6.5 billion.
Chevron Corp. declined 1.1% to $154.60 after the energy company reported mixed results in the fourth quarter.
Revenue in the quarter increased to $52.2 billion from $47.2 billion; adjusted earnings per share declined to $2.06, down from $3.45 a year ago.
Atlassian Corp. surged 19.5% to $320.01 after the project management software developer reported better-than-expected results in the fourth quarter.
Revenue in the fiscal second quarter increased 21% to $1.29 billion, and the company's fiscal third quarter revenue was ahead of market estimates.
Deckers Outdoor decreased 12.5% to $195.66 despite the parent company of Hoka and Ugg reporting better-than-expected quarterly results.
Revenue increased 17% to $1.8 billion, net income advanced to $456.7 million from $389.9 million, and diluted earnings per share rose to $3 from $2.52 a year ago.
Europe Movers: ABB, ATOSS, Glencore, Hexagon AB, Novartis, SKF, Symrise, Stolt-Nielsen
Inga Muller
31 Jan, 2025
Frankfurt
Benchmark indexes in Germany and the UK hovered near record highs, and investors reviewed the latest batch of corporate updates.
France's consumer inflation in January accelerated for the fourth month in a row, Germany's jobless rate in January jumped to a multi-month high, and Spain's retail sales in December advanced by an annual pace of 4%.
The DAX index moved higher by 0.06% to 21,739.32; the CAC-40 index climbed 0.4% to 7,972.21; and the FTSE 100 index advanced by 0.4% to 8,682.65.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.23%, the UK gilts moved down to 4.54%, and Italian bonds edged lower to 3.57%.
ABB Ltd plunged 2% to 606.60 krona although the Swedish engineering company reported higher sales, earnings and orders in the fourth quarter 2024.
Revenue increased 4% to $8.09 billion from $7.65 billion, net income jumped 7% to $987 million from $921 million, and earnings per diluted share rose to 54 cents from 50 cents a year ago.
Revenue in Europe declined 2% although orders in the region rose 9% on comparable basis, led by the Netherlands, while orders in Italy slumped 39%.
Orders in the Americas and Asia, Middle East and Africa also jumped, up 7% and 4%, respectively, led by Brazil and the United Arab Emirates, and despite weakness in Canada and India.
Orders in the machine builder segment declined, while the buildings segment improved despite weakness in China.
On December 18, the company agreed to acquire the power electronics product business of Gamesa Electric in Spain from Siemens Gamesa Renewable Energy, the provider of onshore wind turbine technologies.
The company’s board proposed to increase an ordinary dividend to 0.90 Swiss franc compared to 0.84 Swiss franc in the previous year.
ABB also announced a new $1.5 billion stock repurchase plan, ending on January 28, 2026.
Glencore surged 2.7% to 354.90 pence after the Swiss commodity company released its 2024 production report.
The company’s coal business was supported by the acquisition of Elk Valley Resources, following the significant growth in its Argentina copper resources base reported in 2023.
Glencore saw steady additions to its mineral reserve base, notably in copper, bauxite and steelmaking coal.
In the second half of year 2024 copper production increased 6% and zinc volumes jumped 17% compared to the first half of the year.
Coal energy volumes increased 5.2 million tons in line with operational and logistical improvements in Australia and South Africa, while steelmaking coal added 13.1 million tons, a near fivefold increase versus first year-half, reflecting a 12.5 million tons contribution from EVR.
For full-year 2024, steel making coal production soared to 19.9 million tons from 7.5 million tons, and realized price decreased $201.5 per ton from $267.40 per ton a year ago, respectively.
Unit production cost fell to $115.6 per ton in2024 from $141.30 a ton in 2023.
Symrise AG dropped 1.9% to €99.46 although the German chemicals company reported strong full-year 2024 results.
Gross profit increased to €1.96 billion from €1.69 billion, net income jumped to €478.2 million from €340.5 million, and earnings per share rose to €3.42 from €2.44 a year ago.
Sales in Europe, Africa and the Middle East grew 10.9%, in North America up 1.5%, in the Asia Pacific region up 9.3%, and in Latin America up 15.2% year-on-year.
Growth in the taste, nutrition and health segment was 7.8% and in scent and care sales were up 8.9%.
Stolt-Nielsen Ltd dropped 1.5% to €26.55 after the sea farm and transportation company posted mixed fourth-quarter earnings.
Revenue increased to $709.4 million from $695.2 million, net profit declined to $130.4 million from $140 million, and earnings per diluted share fell to $1.71 from $1.84 a year ago.
The company swung to profit in four of its eight business segments, with the highest growth in tank containers, sea farm, and terminals.
Stolt-Nielsen agreed to acquire all shares of Avenir LNG Ltd during the first quarter of 2025.
Avenir LNG owns and operates a fleet of five small-scale liquefied natural gas (LNG) bunkering vessels, with two new-buildings under construction.
SKF gained 0.9% to 227.80 krona after the Swedish bearing and seal manufacturing company reported strong fourth-quarter results.
Net sales increased to 24.73 billion krona from 24.44 billion krona; operating profit climbed to 2.33 billion krona from 1.93 billion krona, and earnings per share rose to 3.31 krona from 1.37 krona a year ago.
Sales in the company’s industrial segment rose 1.1%, while in automotive they were up 1.8%, supported by strong sales in India and Southeast Asia.
In October SKF completed the acquisition of John Sample Group’s lubrication and flow management businesses.
Novartis AG jumped 3.8% to CHF 97.40 after the Swiss pharmaceutical company reported better-than-expected sales in the fourth quarter, and the company lifted its dividend.
Hexagon AB soared 8.2% to 128.55 krona after the Swedish engineering company reported an unexpected increase in its operating profit.
ATOSS Software SE jumped 4.7% to €120.0 after the workforce management software developer proposed to increase the dividend after profit advanced in the fourth quarter.
Smiths Group plc soared 11.5% to 2,084.0 pence after the UK-based diversified industrial company announced a number of steps to improve its operations.
In addition, the company announced its plans to expand its stock repurchase program to £500 million from £150 million and extended the period to December 2025 from March 2025.
Europe Movers: ABB, ATOSS, Glencore, Hexagon AB, Novartis, SKF, Symrise, Stolt-Nielsen
Inga Muller
31 Jan, 2025
Frankfurt
Benchmark indexes in Germany and the UK hovered near record highs, and investors reviewed the latest batch of corporate updates.
France's consumer inflation in January accelerated for the fourth month in a row, Germany's jobless rate in January jumped to a multi-month high, and Spain's retail sales in December advanced by an annual pace of 4%.
The DAX index moved higher by 0.06% to 21,739.32; the CAC-40 index climbed 0.4% to 7,972.21; and the FTSE 100 index advanced by 0.4% to 8,682.65.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.23%, the UK gilts moved down to 4.54%, and Italian bonds edged lower to 3.57%.
ABB Ltd plunged 2% to 606.60 krona although the Swedish engineering company reported higher sales, earnings and orders in the fourth quarter 2024.
Revenue increased 4% to $8.09 billion from $7.65 billion, net income jumped 7% to $987 million from $921 million, and earnings per diluted share rose to 54 cents from 50 cents a year ago.
Revenue in Europe declined 2% although orders in the region rose 9% on comparable basis, led by the Netherlands, while orders in Italy slumped 39%.
Orders in the Americas and Asia, Middle East and Africa also jumped, up 7% and 4%, respectively, led by Brazil and the United Arab Emirates, and despite weakness in Canada and India.
Orders in the machine builder segment declined, while the buildings segment improved despite weakness in China.
On December 18, the company agreed to acquire the power electronics product business of Gamesa Electric in Spain from Siemens Gamesa Renewable Energy, the provider of onshore wind turbine technologies.
The company’s board proposed to increase an ordinary dividend to 0.90 Swiss franc compared to 0.84 Swiss franc in the previous year.
ABB also announced a new $1.5 billion stock repurchase plan, ending on January 28, 2026.
Glencore surged 2.7% to 354.90 pence after the Swiss commodity company released its 2024 production report.
The company’s coal business was supported by the acquisition of Elk Valley Resources, following the significant growth in its Argentina copper resources base reported in 2023.
Glencore saw steady additions to its mineral reserve base, notably in copper, bauxite and steelmaking coal.
In the second half of year 2024 copper production increased 6% and zinc volumes jumped 17% compared to the first half of the year.
Coal energy volumes increased 5.2 mt in line with operational and logistical improvements in Australia and South Africa, while steelmaking coal added 13.1 mt, a near fivefold increase versus first year-half, reflecting a 12.5 mt contribution from EVR.
Symrise AG dropped 1.9% to €99.46 although the German chemicals company reported strong full-year 2024 results.
Gross profit increased to €1.96 billion from €1.69 billion, net income jumped to €478.2 million from €340.5 million, and earnings per share rose to €3.42 from €2.44 a year ago.
Sales in Europe, Africa and the Middle East grew 10.9%, in North America up 1.5%, in the Asia Pacific region up 9.3%, and in Latin America up 15.2% year-on-year.
Growth in the taste, nutrition and health segment was 7.8% and in scent and care sales were up 8.9%.
Stolt-Nielsen Ltd dropped 1.5% to €26.55 after the sea farm and transportation company posted mixed fourth-quarter earnings.
Revenue increased to $709.4 million from $695.2 million, net profit declined to $130.4 million from $140 million, and earnings per diluted share fell to $1.71 from $1.84 a year ago.
The company swung to profit in four of its eight business segments, with the highest growth in tank containers, sea farm, and terminals.
Stolt-Nielsen agreed to acquire all shares of Avenir LNG Ltd during the first quarter of 2025.
Avenir LNG owns and operates a fleet of five small-scale liquefied natural gas (LNG) bunkering vessels, with two new-buildings under construction.
SKF gained 0.9% to 227.80 krona after the Swedish bearing and seal manufacturing company reported strong fourth-quarter results.
Net sales increased to 24.73 billion krona from 24.44 billion krona; operating profit climbed to 2.33 billion krona from 1.93 billion krona, and earnings per share rose to 3.31 krona from 1.37 krona a year ago.
Sales in the company’s industrial segment rose 1.1%, while in automotive they were up 1.8%, supported by strong sales in India and Southeast Asia.
In October SKF completed the acquisition of John Sample Group’s lubrication and flow management businesses.
Novartis AG jumped 3.8% to CHF 97.40 after the Swiss pharmaceutical company reported better-than-expected sales in the fourth quarter, and the company lifted its dividend.
Hexagon AB soared 8.2% to 128.55 krona after the Swedish engineering company reported an unexpected increase in its operating profit.
ATOSS Software SE jumped 4.7% to €120.0 after the workforce management software developer proposed to increase the dividend after profit advanced in the fourth quarter.
Smiths Group plc soared 11.5% to 2,084.0 pence after the UK-based diversified industrial company announced a number of steps to improve its operations.
In addition, the company announced its plans to expand its stock repurchase program to £500 million from £150 million and extended the period to December 2025 from March 2025.
Benchmark Indexes In Germany and UK Hover Near Record Highs, Germany's Jobless Rate Advanced to 4-Year High
Bridgette Randall
31 Jan, 2025
London
Stock market indexes across Europe advanced amid hopes of additional rate cuts in the near future, and investors reviewed the latest batch of positive earnings.
Benchmark indexes in Paris, Frankfurt, Milan, and London advanced a day after the European Central Bank delivered a 25 basis point rate cut.
Market sentiment was positive after the central bank showed its willingness to cut rates at the next meeting if economic data warrants.
Policymakers confirmed that inflation is developing as estimated and it is on the downward path to the target rate of 2%, paving the way for the central bank to deliver additional rate cuts in the year.
Economists are anticipating at least three more rate cuts totaling 75 basis points in 2025.
Earlier in the week, the statistical agency of the European Union confirmed weak economic growth in the fourth quarter, largely because of shrinking activities in Germany and France.
Investors reacted positively to the latest batch of earnings, including results from Novartis, Hexagon, Smiths Group, and ATOSS Software.
On the economic front, investors reviewed the latest uptick in consumer price inflation in France, the German jobless rate, and Spain's retail sales.
France's Consumer Inflation Accelerated In January
Consumer price inflation in France rose to 1.4% in January from 1.3% in December, according to the latest data released by the statistical agency INSEE.
CPI advanced for the fourth month in a row and reached the highest since September, when it dropped to 1.1%, the lowest since 2021.
The latest pace of annual increase in inflation was driven by a rebound in manufactured goods prices and a renewed acceleration in energy prices, partially offset by weakness in service prices.
Germany's Jobless Rate Extended Recent Increases In January
Germany's seasonally adjusted jobless rate increased to 6.2% in January, after holding steady at 6.1% for three months to December, according to the latest data released by the Ministry of Labor.
The number of unemployed increased by 11,000 to 2.88 million, driving the jobless rate to the highest since May 2020, when it dropped to 5.0%.
Europe Indexes and Yields
The DAX index moved higher by 0.06% to 21,739.32; the CAC-40 index climbed 0.4% to 7,972.21; and the FTSE 100 index advanced by 0.4% to 8,682.65.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.23%, the UK gilts moved down to 4.54%, and Italian bonds edged lower to 3.57%.
The euro declined to $1.04; the British pound was lower at $1.24; and the U.S. dollar was higher and traded at 91.13 Swiss cents.
Brent crude decreased $0.02 to $75.92 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Novartis AG jumped 3.8% to CHF 97.40 after the Swiss pharmaceutical company reported better-than-expected sales in the fourth quarter, and the company lifted its dividend.
Hexagon AB soared 8.2% to 128.55 krona after the Swedish engineering company reported an unexpected increase in its operating profit.
ATOSS Software SE jumped 4.7% to €120.0 after the workforce management software developer proposed to increase the dividend after profit advanced in the fourth quarter.
SKF AB decreased 1.6% to 224.20 krona after the Swedish bearing and seal manufacturing company reported a 3.1% decline in organic sales in the fourth quarter.
Smiths Group plc soared 11.5% to 2,084.0 pence after the UK-based diversified industrial company announced a number of steps to improve its operations.
In addition, the company announced its plans to expand its stock repurchase program to £500 million from £150 million and extended the period to December 2025 from March 2025.
Benchmark Indexes In Germany and UK Hover Near Record Highs, Germany's Jobless Rate Advanced to 4-Year High
Bridgette Randall
31 Jan, 2025
London
Stock market indexes across Europe advanced amid hopes of additional rate cuts in the near future, and investors reviewed the latest batch of positive earnings.
Benchmark indexes in Paris, Frankfurt, Milan, and London advanced a day after the European Central Bank delivered a 25 basis point rate cut.
Market sentiment was positive after the central bank showed its willingness to cut rates at the next meeting if economic data warrants.
Policymakers confirmed that inflation is developing as estimated and it is on the downward path to the target rate of 2%, paving the way for the central bank to deliver additional rate cuts in the year.
Economists are anticipating at least three more rate cuts totaling 75 basis points in 2025.
Earlier in the week, the statistical agency of the European Union confirmed weak economic growth in the fourth quarter, largely because of shrinking activities in Germany and France.
Investors reacted positively to the latest batch of earnings, including results from Novartis, Hexagon, Smiths Group, and ATOSS Software.
On the economic front, investors reviewed the latest uptick in consumer price inflation in France, the German jobless rate, and Spain's retail sales.
France's Consumer Inflation Accelerated In January
Consumer price inflation in France rose to 1.4% in January from 1.3% in December, according to the latest data released by the statistical agency INSEE.
CPI advanced for the fourth month in a row and reached the highest since September, when it dropped to 1.1%, the lowest since 2021.
The latest pace of annual increase in inflation was driven by a rebound in manufactured goods prices and a renewed acceleration in energy prices, partially offset by weakness in service prices.
Germany's Jobless Rate Extended Recent Increases In January
Germany's seasonally adjusted jobless rate increased to 6.2% in January, after holding steady at 6.1% for three months to December, according to the latest data released by the Ministry of Labor.
The number of unemployed increased by 11,000 to 2.88 million, driving the jobless rate to the highest since May 2020, when it dropped to 5.0%.
Europe Indexes and Yields
The DAX index moved higher by 0.06% to 21,739.32; the CAC-40 index climbed 0.4% to 7,972.21; and the FTSE 100 index advanced by 0.4% to 8,682.65.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.23%, the UK gilts moved down to 4.54%, and Italian bonds edged lower to 3.57%.
The euro declined to $1.04; the British pound was lower at $1.24; and the U.S. dollar was higher and traded at 91.13 Swiss cents.
Brent crude decreased $0.02 to $75.92 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Novartis AG jumped 3.8% to CHF 97.40 after the Swiss pharmaceutical company reported better-than-expected sales in the fourth quarter, and the company lifted its dividend.
Hexagon AB soared 8.2% to 128.55 krona after the Swedish engineering company reported an unexpected increase in its operating profit.
ATOSS Software SE jumped 4.7% to €120.0 after the workforce management software developer proposed to increase the dividend after profit advanced in the fourth quarter.
SKF AB decreased 1.6% to 224.20 krona after the Swedish bearing and seal manufacturing company reported a 3.1% decline in organic sales in the fourth quarter.
Smiths Group plc soared 11.5% to 2,084.0 pence after the UK-based diversified industrial company announced a number of steps to improve its operations.
In addition, the company announced its plans to expand its stock repurchase program to £500 million from £150 million and extended the period to December 2025 from March 2025.
India Movers: Adani Enterprises, Adani Ports, Bajaj Finserv, Bank of Baroda, Biocon, Dabur, GAIL, Geojit Financial, Kalyan Jewellers, L&T
Arun Goswami
31 Jan, 2025
Mumbai
The Sensex and the Nifty indexes extended gains for the fourth session in a row. Benchmark indexes advance 1.5% after closing down in the previous three consecutive weeks.
The Sensex index increased by 0.4% to 77,081.03, and the Nifty index advanced by 0.5% to 23,375.80.
On the Mumbai stock exchange, 47 stocks traded at their 52-week highs, and 56 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 traded at a record of 86.64 against the U.S. dollar.
Kalyan Jewellers India Ltd. increased 8% to ₹475.85, and the company reported a sharp jump in revenue and earnings in the December quarter.
Consolidated revenue in the December quarter increased to ₹7,318.2 crore from ₹5,243.2 crore, after-tax profit rose to ₹218.7 crore from ₹182.4 crore, and diluted earnings per share advanced to ₹2.12 from ₹1.75 a year ago.
Geojit Financial Services Ltd. decreased 6% to ₹86.70 after the company reported a decline in net income in the December quarter.
Consolidated revenue in the December quarter increased to ₹172.1 crore from ₹153.9 crore, net income dropped to ₹370.4 crore from ₹379.1 crore, and diluted earnings per share fell to ₹1.30 from ₹1.39 a year ago.
Adani Ports and Special Economic Zone Ltd. increased 1.1% to ₹1,088.65, and the company reported a 12% increase in revenue in the December quarter.
Consolidated revenue in the December quarter increased to ₹8,186.90 crore from ₹7,426.95 crore, after-tax profit rose to ₹2,518.39 crore from ₹2,208.21 crore, and diluted earnings per share jumped to ₹11.67 from ₹10.22 a year ago.
Adani Enterprises Ltd. fell 0.05% to ₹2,251, and the company reported an 88% plunge in quarterly profit from a year ago.
Consolidated revenue in the December quarter decreased to ₹23,500.54 crore from ₹25,540.35 crore, net income plunged to ₹228.64 crore from ₹1,972.75 crore, and diluted earnings per share fell to 4 paisa from ₹16.10 a year ago.
Gail (India) Ltd. advanced 3.3% to ₹172.50 after the company reported a 28% increase in net income in the fiscal third quarter ending in December.
Consolidated revenue in the December quarter increased to ₹37,315.11 crore from ₹35,181.78 crore, after-tax profit rose to ₹4,084.24 crore from ₹3,193.34 crore, and diluted earnings per share jumped to ₹6.21 from ₹4.86 a year ago.
Tata Consumer Products Ltd. increased 3.2% to ₹998.50, and the company reported a marginal decline in the December quarter profit.
Consolidated revenue in the December quarter increased to ₹4,495.16 crore from ₹3,863.51 crore, net income fell to ₹299.8 crore from ₹315.53 crore, and diluted earnings per share dropped to ₹2.82 from ₹2.97 a year ago.
Dabur India Ltd. decreased 0.6% to ₹530.30, and the company reported an increase in revenue and earnings in the December quarter.
Consolidated revenue in the December quarter increased to ₹3,483.3 crore from ₹3,382.4 crore, after-tax profit rose to ₹515.8 crore from ₹506.4 crore, and diluted earnings per share advanced to ₹2.94 from ₹2.90 a year ago.
Biocon Ltd. rose 1.6% to ₹362.95 despite the company reporting an 89% plunge in consolidated profit in the December quarter.
Consolidated revenue in the December quarter declined to ₹38,562 crore from ₹45,192 crore, net income dropped to ₹81.1 crore from ₹753.3 crore, and diluted earnings per share fell to 21 paisa from ₹5.51 a year ago.
Bank of Baroda decreased 4.3% to ₹212.90 despite the company saying profit soared 9% in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹37,732.5 crore from ₹35,084 crore, after-tax profit rose to ₹5,213.7 crore from ₹4,788.5 crore, and diluted earnings per share jumped to ₹10.08 from ₹9.26 a year ago.
Bajaj Finserv advanced 0.4% to ₹1,752.25 after the company reported a rise in revenue and net income in the December quarter.
Consolidated revenue in the December quarter advanced to ₹32,041.8 crore from ₹29,038.4 crore, net income increased to ₹2,231 crore from ₹2,157.7 crore, and diluted earnings per share rose to ₹13.9 from ₹13.4 a year ago.
Larsen & Toubro Ltd. soared 4% to ₹3,569.80 after the company reported a 17% increase in revenue in the fiscal third quarter ending in December.
Consolidated revenue in the December quarter increased to ₹65,635.7 crore from ₹55,965.6 crore, after-tax profit rose to ₹4,001.03 crore from ₹3,594.51 crore, and diluted earnings per share advanced to ₹24.41 from ₹21.42 a year ago.