Market Update
Europe Movers: Hugo Boss, Pandora, TeamViewer, Zalando
Inga Muller
07 May, 2025
Frankfurt
Zalando SE dropped 3.3% to €31.13 after the German fashion retailer reported first-quarter 2025 results.
Revenue increased to €2.42 billion from €2.24 billion, and net income was €9.9 million compared to a loss of €8.9 million a year ago.
The number of orders jumped to 58.5 million from 55.2 million, and the number of active customers edged up to 52.4 million from 49.5 million a year earlier.
Gross merchandise volume in the quarter increased to €3.49 billion from €3.28 billion in the prior year.
The company guided fiscal 2025 revenue and gross merchandise volume to grow between 4% and 9% compared to 2024, and the adjusted EBIT to reach a level between €530 million and €590 million.
The guidance does not account for effects from the planned acquisition of Hamburg-based About You.
In comparison, revenue in 2024 was €10.57 billion, gross merchandise volume was €15.30 billion, and adjusted EBIT was €511.1 million.
TeamViewer SE plunged 16.5% to €11.16 after the German digital workplace platform operator reported lower-than-expected first-quarter 2025 results.
Revenue jumped to €178.75 million from €161.65 million, net income climbed to €29.63 million from €22.34 million, and diluted earnings per share rose to 19 cents from 14 cents a year ago.
The company reiterated its full-year guidance, expecting annual recurring revenue to grow between 7.5% and 10.8% and pro forma revenue to grow between 5.1% and 7.7% from a year earlier.
In comparison, 2024 revenue was €671.4 million.
Hugo Boss Group advanced 5.8% to €38.55 after the German fashion and lifestyle company reported first-quarter 2025 results.
Sales declined to €999 million from €1.01 billion, net income edged down to €35 million from €38 million, and earnings per share fell to 51 cents from 55 cents a year ago.
Sales in the Asia Pacific region plunged 8% from the prior year, impacted by ongoing subdued consumer demand in China, the company said in a release to investors.
The company guided full-year sales to remain broadly stable, with the EBIT increasing 5% to 22% and the EBIT margin to be between 9% and 10%.
In comparison, sales in 2024 were €4.3 billion, EBIT was €361 million, and the EBIT margin amounted to 8.4%.
Pandora Group eased 2.2% to 982.00 krona after the Danish jewelry retailer reported first-quarter 2025 results.
Revenue jumped to DKK 7.35 billion from DKK 6.83 billion, net profit edged up to DKK 1.10 billion from DKK 965 million, and diluted earnings per share rose to DKK 14.0 from DKK 11.8 a year ago.
The company retained its full-year guidance for organic growth between 7% and 8%, with the EBIT margin expected to be around 24%, reflecting the recent adverse foreign exchange movements and a 30 basis points impact from current tariffs in place over a 90-day period.
Pandora estimated full-year revenue to be between DKK 33.2 billion and DKK 33.5 billion, compared to DKK 31.7 billion in 2024, expecting same-store sales to grow between 4% and 5%.
Europe Movers: Hugo Boss, Pandora, TeamViewer, Zalando
Inga Muller
07 May, 2025
Frankfurt
Zalando SE dropped 3.3% to €31.13 after the German fashion retailer reported first-quarter 2025 results.
Revenue increased to €2.42 billion from €2.24 billion, and net income was €9.9 million compared to a loss of €8.9 million a year ago.
The number of orders jumped to 58.5 million from 55.2 million, and the number of active customers edged up to 52.4 million from 49.5 million a year earlier.
Gross merchandise volume in the quarter increased to €3.49 billion from €3.28 billion in the prior year.
The company guided fiscal 2025 revenue and gross merchandise volume to grow between 4% and 9% compared to 2024, and the adjusted EBIT to reach a level between €530 million and €590 million.
The guidance does not account for effects from the planned acquisition of Hamburg-based About You.
In comparison, revenue in 2024 was €10.57 billion, gross merchandise volume was €15.30 billion, and adjusted EBIT was €511.1 million.
TeamViewer SE plunged 16.5% to €11.16 after the German digital workplace platform operator reported lower-than-expected first-quarter 2025 results.
Revenue jumped to €178.75 million from €161.65 million, net income climbed to €29.63 million from €22.34 million, and diluted earnings per share rose to 19 cents from 14 cents a year ago.
The company reiterated its full-year guidance, expecting annual recurring revenue to grow between 7.5% and 10.8% and pro forma revenue to grow between 5.1% and 7.7% from a year earlier.
In comparison, 2024 revenue was €671.4 million.
Hugo Boss Group advanced 5.8% to €38.55 after the German fashion and lifestyle company reported first-quarter 2025 results.
Sales declined to €999 million from €1.01 billion, net income edged down to €35 million from €38 million, and earnings per share fell to 51 cents from 55 cents a year ago.
Sales in the Asia Pacific region plunged 8% from the prior year, impacted by ongoing subdued consumer demand in China, the company said in a release to investors.
The company guided full-year sales to remain broadly stable, with the EBIT increasing 5% to 22% and the EBIT margin to be between 9% and 10%.
In comparison, sales in 2024 were €4.3 billion, EBIT was €361 million, and the EBIT margin amounted to 8.4%.
Pandora Group eased 2.2% to 982.00 krona after the Danish jewelry retailer reported first-quarter 2025 results.
Revenue jumped to DKK 7.35 billion from DKK 6.83 billion, net profit edged up to DKK 1.10 billion from DKK 965 million, and diluted earnings per share rose to DKK 14.0 from DKK 11.8 a year ago.
The company retained its full-year guidance for organic growth between 7% and 8%, with the EBIT margin expected to be around 24%, reflecting the recent adverse foreign exchange movements and a 30 basis points impact from current tariffs in place over a 90-day period.
Pandora estimated full-year revenue to be between DKK 33.2 billion and DKK 33.5 billion, compared to DKK 31.7 billion in 2024, expecting same-store sales to grow between 4% and 5%.
Europe Movers: Hugo Boss, Pandora, TeamViewer, Zalando
Inga Muller
07 May, 2025
Frankfurt
Zalando SE dropped 3.3% to €31.13 after the German fashion retailer reported first-quarter 2025 results.
Revenue increased to €2.42 billion from €2.24 billion, and net income was €9.9 million compared to a loss of €8.9 million a year ago.
The number of orders jumped to 58.5 million from 55.2 million, and the number of active customers edged up to 52.4 million from 49.5 million a year earlier.
Gross merchandise volume in the quarter increased to €3.49 billion from €3.28 billion in the prior year.
The company guided fiscal 2025 revenue and gross merchandise volume to grow between 4% and 9% compared to 2024, and the adjusted EBIT to reach a level between €530 million and €590 million.
The guidance does not account for effects from the planned acquisition of Hamburg-based About You.
In comparison, revenue in 2024 was €10.57 billion, gross merchandise volume was €15.30 billion, and adjusted EBIT was €511.1 million.
TeamViewer SE plunged 16.5% to €11.16 after the German digital workplace platform operator reported lower-than-expected first-quarter 2025 results.
Revenue jumped to €178.75 million from €161.65 million, net income climbed to €29.63 million from €22.34 million, and diluted earnings per share rose to 19 cents from 14 cents a year ago.
The company reiterated its full-year guidance, expecting annual recurring revenue to grow between 7.5% and 10.8% and pro forma revenue to grow between 5.1% and 7.7% from a year earlier.
In comparison, 2024 revenue was €671.4 million.
Hugo Boss Group advanced 5.8% to €38.55 after the German fashion and lifestyle company reported first-quarter 2025 results.
Sales declined to €999 million from €1.01 billion, net income edged down to €35 million from €38 million, and earnings per share fell to 51 cents from 55 cents a year ago.
Sales in the Asia Pacific region plunged 8% from the prior year, impacted by ongoing subdued consumer demand in China, the company said in a release to investors.
The company guided full-year sales to remain broadly stable, with the EBIT increasing 5% to 22% and the EBIT margin to be between 9% and 10%.
In comparison, sales in 2024 were €4.3 billion, EBIT was €361 million, and the EBIT margin amounted to 8.4%.
Pandora Group eased 2.2% to 982.00 krona after the Danish jewelry retailer reported first-quarter 2025 results.
Revenue jumped to DKK 7.35 billion from DKK 6.83 billion, net profit edged up to DKK 1.10 billion from DKK 965 million, and diluted earnings per share rose to DKK 14.0 from DKK 11.8 a year ago.
The company retained its full-year guidance for organic growth between 7% and 8%, with the EBIT margin expected to be around 24%, reflecting the recent adverse foreign exchange movements and a 30 basis points impact from current tariffs in place over a 90-day period.
Pandora estimated full-year revenue to be between DKK 33.2 billion and DKK 33.5 billion, compared to DKK 31.7 billion in 2024, expecting same-store sales to grow between 4% and 5%.
Japan's Service Sector Activities Expanded In April, U.S.-Japan Trade Talks Stalled
Akira Ito
07 May, 2025
Tokyo
Japan's stock market indexes struggled to advance in Tuesday's trading, and investors awaited rate decisions from major central banks.
Investors stayed on the sidelines after returning from long weekend, following the lack of progress on trade talks with the U.S.
The Nikkei index traded in a tight range, and the broader Topix index trimmed gains of the session as investors dialed down expectations of rate cuts in the U.S.
The U.S. Federal Reserve is widely anticipated to hold rates steady later today and maintain its federal funds rate range between 4.25% and 4.50%.
Investors are awaiting comments from the central bank policymakers and are looking for insights about the impact of U.S. tariffs on inflation and economic growth outlook.
The Bank of England is widely anticipated to cut its bank rate by 25 basis points to 4.25%, reflecting weakening inflation and a deteriorating economic outlook.
Japan's Service Sector Expanded in April
Closer to home, Japan's services sector growth accelerated in April after stagnating in March, according to a report released by S&P Global.
The au Jibun Services PMI increased to 52.4 in April from 50.0 in March, as cost pressures intensified, with average input prices rising at the fastest pace in over two years.
The headline figure is the Services Business Activity Index, which tracks changes in the volume of business activity compared with one month previously.
A reading above 50.0 indicates an overall increase compared to the previous month, and below 50.0 an overall decrease.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged down 0.1% to 36,779.66, and the Topix index added 0.3% to 2,696.16.
Stocks in heavy industries and automobile sectors declined amid a lack of progress on trade talks with the U.S.
Kawasaki Heavy Industries declined 1.4% to ¥8,311.0, IHI Corp rose 0.9% to ¥11,320.0, and Mitsubishi Heavy Industries advanced 1.9% to ¥2,844.50.
Toyota Motor Corp. declined 2.5% to ¥2,706.0, Honda Motor decreased 1.9% to ¥1,458.0, and Nissan Motor eased 2.4% to ¥338.10.
Shipping companies traded volatile as investors worried that the erratic U.S. trade policy may dampen shipping volume to the U.S.
Shipping companies are signaling a sharp decline in shipping volumes from China and Asia to the U.S. ports on the West Coast.
Nippon Yusen advanced 0.4% to ¥4,679.0, Mitsui O.S.K. Lines Ltd. added 1.7% to ¥4,675.0, and Kawasaki Kisen Kaisha decreased 0.2% to ¥1,946.0.
Japan's Service Sector Activities Expanded In April, U.S.-Japan Trade Talks Stalled
Akira Ito
07 May, 2025
Tokyo
Japan's stock market indexes struggled to advance in Tuesday's trading, and investors awaited rate decisions from major central banks.
Investors stayed on the sidelines after returning from long weekend, following the lack of progress on trade talks with the U.S.
The Nikkei index traded in a tight range, and the broader Topix index trimmed gains of the session as investors dialed down expectations of rate cuts in the U.S.
The U.S. Federal Reserve is widely anticipated to hold rates steady later today and maintain its federal funds rate range between 4.25% and 4.50%.
Investors are awaiting comments from the central bank policymakers and are looking for insights about the impact of U.S. tariffs on inflation and economic growth outlook.
The Bank of England is widely anticipated to cut its bank rate by 25 basis points to 4.25%, reflecting weakening inflation and a deteriorating economic outlook.
Japan's Service Sector Expanded in April
Closer to home, Japan's services sector growth accelerated in April after stagnating in March, according to a report released by S&P Global.
The au Jibun Services PMI increased to 52.4 in April from 50.0 in March, as cost pressures intensified, with average input prices rising at the fastest pace in over two years.
The headline figure is the Services Business Activity Index, which tracks changes in the volume of business activity compared with one month previously.
A reading above 50.0 indicates an overall increase compared to the previous month, and below 50.0 an overall decrease.
Japan Indexes and Stocks
The Nikkei 225 Stock Average edged down 0.1% to 36,779.66, and the Topix index added 0.3% to 2,696.16.
Stocks in heavy industries and automobile sectors declined amid a lack of progress on trade talks with the U.S.
Kawasaki Heavy Industries declined 1.4% to ¥8,311.0, IHI Corp rose 0.9% to ¥11,320.0, and Mitsubishi Heavy Industries advanced 1.9% to ¥2,844.50.
Toyota Motor Corp. declined 2.5% to ¥2,706.0, Honda Motor decreased 1.9% to ¥1,458.0, and Nissan Motor eased 2.4% to ¥338.10.
Shipping companies traded volatile as investors worried that the erratic U.S. trade policy may dampen shipping volume to the U.S.
Shipping companies are signaling a sharp decline in shipping volumes from China and Asia to the U.S. ports on the West Coast.
Nippon Yusen advanced 0.4% to ¥4,679.0, Mitsui O.S.K. Lines Ltd. added 1.7% to ¥4,675.0, and Kawasaki Kisen Kaisha decreased 0.2% to ¥1,946.0.
China Unveiled Additional Measures to Stabilize Financial Markets Ahead of Trade Talks with U.S.
Li Chen
07 May, 2025
Hong Kong
Mainland China and Hong Kong stock market indexes shot up in early trading but lost momentum after a few hours of trading as policymakers announced measures to support economic growth.
The Hang Seng index soared as much as 1%, and the mainland-focused China edged down after rising as much as 0.7%.
On Wednesday, the People's Bank of China and the China Securities Regulatory Commission announced a new set of measures to stabilize financial markets and support the smooth functioning of the economy.
The People's Bank of China lowered its reserve ratio requirements by 50 basis points for banks, which is expected to make available an additional one trillion yuan, or about $139 billion.
In addition, the central bank announced its willingness to provide support to listed companies to acquire their shares.
Beijing policymakers are expected to announce measures to provide additional support to export-sensitive companies and facilitate foreign fund flows into the stock market.
Despite the fresh efforts by policymakers, central bankers, and regulators, investors remained skeptical and worried about the effectiveness of the measures.
The Hong Kong Monetary Authority intervened in the foreign exchange market for the fourth time since Friday to keep the Hong Kong dollar's peg stable amid rising inflow of foreign funds ahead of the Hong Kong listing of CATL.
Contemporary Amperex Technology, the largest maker of electric vehicle batteries, moved one step closer to its Hong Kong listing after the exchange's committee approved its listing.
Earlier on Wednesday, China said tariff-related talks with the U.S. will start later in the week in Switzerland.
China's Vice Premier He Lifeng is scheduled to meet the U.S. Treasury Secretary Scott Bessent from May 9 to 12 in Switzerland.
China Indexes and Stocks
The Hang Seng index inched up 0.5% to 22,779.11, and the mainland-focused CSI 300 index edged up 0.5% to 3,826.88.
CATL advanced 2.2% to ¥236.16 in Shanghai trading ahead of the company's $5 billion listing on the Hong Kong Stock Exchange next week.
Nongfu Spring Co. Ltd. declined 2% to HK $37.85, JD Health International Inc. rose 1.3% to HK $38.0, and Trip.com Group Ltd. rose 3% to HK $485.60.
Alibaba Group declined 1.3% to HK $122.10, Tencent Holdings decreased 1.2% to HK $493.0, and Baidu Inc. gained 0.7% to HK $88.40.
China Unveiled Additional Measures to Stabilize Financial Markets Ahead of Trade Talks with U.S.
Li Chen
07 May, 2025
Hong Kong
Mainland China and Hong Kong stock market indexes shot up in early trading but lost momentum after a few hours of trading as policymakers announced measures to support economic growth.
The Hang Seng index soared as much as 1%, and the mainland-focused China edged down after rising as much as 0.7%.
On Wednesday, the People's Bank of China and the China Securities Regulatory Commission announced a new set of measures to stabilize financial markets and support the smooth functioning of the economy.
The People's Bank of China lowered its reserve ratio requirements by 50 basis points for banks, which is expected to make available an additional one trillion yuan, or about $139 billion.
In addition, the central bank announced its willingness to provide support to listed companies to acquire their shares.
Beijing policymakers are expected to announce measures to provide additional support to export-sensitive companies and facilitate foreign fund flows into the stock market.
Despite the fresh efforts by policymakers, central bankers, and regulators, investors remained skeptical and worried about the effectiveness of the measures.
The Hong Kong Monetary Authority intervened in the foreign exchange market for the fourth time since Friday to keep the Hong Kong dollar's peg stable amid rising inflow of foreign funds ahead of the Hong Kong listing of CATL.
Contemporary Amperex Technology, the largest maker of electric vehicle batteries, moved one step closer to its Hong Kong listing after the exchange's committee approved its listing.
Earlier on Wednesday, China said tariff-related talks with the U.S. will start later in the week in Switzerland.
China's Vice Premier He Lifeng is scheduled to meet the U.S. Treasury Secretary Scott Bessent from May 9 to 12 in Switzerland.
China Indexes and Stocks
The Hang Seng index inched up 0.5% to 22,779.11, and the mainland-focused CSI 300 index edged up 0.5% to 3,826.88.
CATL advanced 2.2% to ¥236.16 in Shanghai trading ahead of the company's $5 billion listing on the Hong Kong Stock Exchange next week.
Nongfu Spring Co. Ltd. declined 2% to HK $37.85, JD Health International Inc. rose 1.3% to HK $38.0, and Trip.com Group Ltd. rose 3% to HK $485.60.
Alibaba Group declined 1.3% to HK $122.10, Tencent Holdings decreased 1.2% to HK $493.0, and Baidu Inc. gained 0.7% to HK $88.40.
Wall Street Indexes Extend Two-Day Losses Ahead of Rate Decisions
Barry Adams
06 May, 2025
New York City
Stock market indexes in New York decreased for the second session in a row amid import tax uncertainty.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite declined 0.3%, as investors awaited the Federal Reserve's rate decisions.
The Federal Open Market Committee started its two-day meeting on Tuesday, and policymakers are widely expected to hold rates steady on Wednesday.
The uncertainty surrounding the U.S. trade policy weighed on the market sentiment, and the S&P 500 index halted its 9-day rally on Monday.
The longest rally in 20 years came to a halt after the U.S. president unilaterally slapped a 100% tariff on foreign-made movies.
The unexpected announcement shocked the industry executives and confused investors, as the Trump administration provided few details about the scope and timetable for import tax implementation.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 1.1% to 5,588.45, the Nasdaq Composite edged down 1.3% to 17,613.27, and the Russell 2000 index was down 0.9% to 1,986.87.
The yield on 2-year Treasury notes edged lower to 3.80%, 10-year Treasury notes increased to 4.35%, and 30-year Treasury bonds advanced to 4.85%.
WTI crude oil increased $2.12 to $59.22 a barrel, and natural gas prices edged higher by $0.05 to $3.60 a thermal unit.
Gold increased by $60.84 to 3,395.30 an ounce, and silver edged up by $0.69 to $33.20.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.30 to 99.53, and it traded at the lowest level since April 2022.
U.S. Stock Movers
Mattel Inc. decreased 0.6% to $16.11 after the company withdrew its 2025 full-year outlook because of tariff uncertainty.
Meanwhile, the company's first-quarter results surpassed market expectations.
Palantir Technologies dropped 7.4% to $114.60 after the big data analysis software company reported quarterly results that met investor expectations.
However, the company's 2025 sales revision fell short of some investor expectations.
Ferrari N.V. declined 0.5% to $464.0 despite the luxury sports vehicle maker reporting a 17% jump in first-quarter earnings.
The company warned that U.S. tariffs on imported cars from the European Union could negatively impact the automaker's profitability in 2025.
DoorDash Inc. fell 5.5% to $194.0 after the food delivery company reported weaker-than-anticipated revenue in the first quarter.
Revenue was $3.09 billion, net income swung to a profit of $193 million from a net loss of $23 million, and diluted earnings per share were a profit of 44 cents compared to a loss of 6 cents a year ago.
The food delivery company also announced an acquisition of SevenRooms, a New York City-based online booking platform for hotels and restaurants.
Wall Street Index Extend Two-Day Losses Ahead of Rate Decisions,
Barry Adams
06 May, 2025
New York City
Stock market indexes in New York decreased for the second session in a row amid import tax uncertainty.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite declined 0.3%, as investors awaited the Federal Reserve's rate decisions.
The Federal Open Market Committee started its two-day meeting on Tuesday, and policymakers are widely expected to hold rates steady on Wednesday.
The uncertainty surrounding the U.S. trade policy weighed on the market sentiment, and the S&P 500 index halted its 9-day rally on Monday.
The longest rally in 20 years came to a halt after the U.S. president unilaterally slapped a 100% tariff on foreign-made movies.
The unexpected announcement shocked the industry executives and confused investors, as the Trump administration provided few details about the scope and timetable for import tax implementation.
U.S. Stock Movers
Mattel Inc. decreased 0.6% to $16.11 after the company withdrew its 2025 full-year outlook because of tariff uncertainty.
Meanwhile, the company's first-quarter results surpassed market expectations.
Palantir Technologies dropped 7.4% to $114.60 after the big data analysis software company reported quarterly results that met investor expectations.
However, the company's 2025 sales revision fell short of some investor expectations.
Ferrari N.V. declined 0.5% to $464.0 despite the luxury sports vehicle maker reporting a 17% jump in first-quarter earnings.
The company warned that U.S. tariffs on imported cars from the European Union could negatively impact the automaker's profitability in 2025.
DoorDash Inc. fell 5.5% to $194.0 after the food delivery company reported weaker-than-anticipated revenue in the first quarter.
Revenue was $3.09 billion, net income swung to a profit of $193 million from a net loss of $23 million, and diluted earnings per share were a profit of 44 cents compared to a loss of 6 cents a year ago.
The food delivery company also announced an acquisition of SevenRooms, a New York City-based online booking platform for hotels and restaurants.
European Markets Struggled to Advance Ahead of Rate Decisions
Bridgette Randall
06 May, 2025
London
European markets lacked direction in Tuesday's trading as investors remained focused on corporate earnings and merger announcements.
Benchmark indexes in Frankfurt, Paris, Milan, and London traded in a tight range as investors reacted to corporate earnings.
Market sentiment was cautious after the Trump administration announced 100% tariffs on foreign-made movies but did not clarify if the import duties apply to streaming services.
Moreover, investors remained on the sidelines ahead of rate decisions from the Federal Reserve on Wednesday and the Bank of England on Thursday.
Deliveroo agreed to be acquired by the U.S.-based Door Dash for £2.9 billion, or $3.9 billion.
Europe Indexes and Yields
The DAX index decreased by 0.2% to 23,305.13, the CAC-40 index edged higher 0.03% to 7,730.23, and the FTSE 100 index advanced 0.3% to 8,623.00.
The yield on 10-year German bonds inched higher to 2.55%, French bonds increased to 3.27%, UK gilts moved up to 4.57%, and Italian bonds edged higher to 3.64%.
The euro increased to $1.13; the British pound was higher at $1.33; and the U.S. dollar was higher and traded at 82.41 Swiss cents.
Brent crude increased $1.33 to $61.56 a barrel, and the Dutch TTF natural gas was higher by €0.24 to €33.29 per MWh.
Europe Movers
Hugo Boss jumped 5.5% to €38.45 after the German fashion company reported better-than-expected revenue in the first quarter.
Philips NV declined 1.9% to €22.12, and the Dutch consumer appliance maker lowered its annual outlook.
Covestro AG increased 0.5% to €58.62 after the polycarbonate raw material maker lowered its earnings outlook.
Continental AG increased 1.2% to €70.92, and the Germany-based automotive parts maker reported better-than-expected revenue and earnings in the latest quarter, and sales rose to a four-year high.
Vestas Wind Systems increased 4.7% to DKK 92.68, and the Danish wind energy company's net income swung to a profit in the first quarter.
European Markets Struggled to Advance Ahead of
Bridgette Randall
06 May, 2025
London
European markets lacked direction in Tuesday's trading as investors remained focused on corporate earnings and merger announcements.
Benchmark indexes in Frankfurt, Paris, Milan, and London traded in a tight range as investors reacted to corporate earnings.
Market sentiment was cautious after the Trump administration announced 100% tariffs on foreign-made movies but did not clarify if the import duties apply to streaming services.
Moreover, investors remained on the sidelines ahead of rate decisions from the Federal Reserve on Wednesday and the Bank of England on Thursday.
Deliveroo agreed to be acquired by the U.S.-based Door Dash for £2.9 billion, or $3.9 billion.
Europe Indexes and Yields
The DAX index decreased by 0.2% to 23,305.13, the CAC-40 index edged higher 0.03% to 7,730.23, and the FTSE 100 index advanced 0.3% to 8,623.00.
The yield on 10-year German bonds inched higher to 2.55%, French bonds increased to 3.27%, UK gilts moved up to 4.57%, and Italian bonds edged higher to 3.64%.
The euro increased to $1.13; the British pound was higher at $1.33; and the U.S. dollar was higher and traded at 82.41 Swiss cents.
Brent crude increased $1.33 to $61.56 a barrel, and the Dutch TTF natural gas was higher by €0.24 to €33.29 per MWh.
Europe Movers
Hugo Boss jumped 5.5% to €38.45 after the German fashion company reported better-than-expected revenue in the first quarter.
Philips NV declined 1.9% to €22.12, and the Dutch consumer appliance maker lowered its annual outlook.
Covestro AG increased 0.5% to €58.62 after the polycarbonate raw material maker lowered its earnings outlook.
Continental AG increased 1.2% to €70.92, and the Germany-based automotive parts maker reported better-than-expected revenue and earnings in the latest quarter, and sales rose to a four-year high.
Vestas Wind Systems increased 4.7% to DKK 92.68, and the Danish wind energy company's net income swung to a profit in the first quarter.
U.S. Movers: Air Lease, Cummins, Lattice Semiconductor
Scott Peters
06 May, 2025
New York City
Cummins Inc. traded flat at $302.30 after the provider of diesel and alternative fuel engines reported first-quarter 2025 results.
Net sales edged down 3% to $8.17 billion from $8.40 billion, net income plunged to $824 million from $1.99 billion, and diluted earnings per share fell to $5.96 from $14.03 a year ago.
“Sales in North America decreased 1%, and international revenues decreased 5% due to lower demand in Latin America and Asia Pacific, partially offset by higher sales in China,” the company said in a release to investors.
The company proposed a quarterly dividend of $1.82 per share, compared to $1.68 per share a year earlier.
Lattice Semiconductor Corp. advanced 0.2% to $54.55 after the semiconductor company reported first-quarter 2025 results.
Revenue increased to $120.15 million from $117.42 million, net income plunged to $5.02 million from $16.51 million, and diluted earnings per share fell to 4 cents from 12 cents a year ago.
The company guided second-quarter revenue to be between $118.5 million and $128.5 million, compared to $124.1 million in 2024, and non-GAAP earnings per share to be between 22 cents and 26 cents, compared to 23 cents a year earlier.
Air Lease Corp. advanced 2.3% to $49.90 after the aircraft leasing company reported first-quarter 2025 results.
Revenue increased to $738.28 million from $663.31 million, net income jumped to $364.75 million from $97.44 million, and diluted earnings per share rose to $3.26 from 87 cents a year ago.
“To date, we have no aircraft delivering to any country that has announced reciprocal tariffs applicable to aircraft,” said John L. Plueger, the company’s CEO and president.
The company continues to benefit from strong global aircraft demand in both leasing and aircraft trading as significant aircraft supply constraints persist, Plueger added in the statement to investors.
U.S. Movers: Air Lease, Cummins, Lattice Semiconductor
Scott Peters
06 May, 2025
New York City
Cummins Inc. traded flat at $302.30 after the provider of diesel and alternative fuel engines reported first-quarter 2025 results.
Net sales edged down 3% to $8.17 billion from $8.40 billion, net income plunged to $824 million from $1.99 billion, and diluted earnings per share fell to $5.96 from $14.03 a year ago.
“Sales in North America decreased 1%, and international revenues decreased 5% due to lower demand in Latin America and Asia Pacific, partially offset by higher sales in China,” the company said in a release to investors.
The company proposed a quarterly dividend of $1.82 per share, compared to $1.68 per share a year earlier.
Lattice Semiconductor Corp. advanced 0.2% to $54.55 after the semiconductor company reported first-quarter 2025 results.
Revenue increased to $120.15 million from $117.42 million, net income plunged to $5.02 million from $16.51 million, and diluted earnings per share fell to 4 cents from 12 cents a year ago.
The company guided second-quarter revenue to be between $118.5 million and $128.5 million, compared to $124.1 million in 2024, and non-GAAP earnings per share to be between 22 cents and 26 cents, compared to 23 cents a year earlier.
Air Lease Corp. advanced 2.3% to $49.90 after the aircraft leasing company reported first-quarter 2025 results.
Revenue increased to $738.28 million from $663.31 million, net income jumped to $364.75 million from $97.44 million, and diluted earnings per share rose to $3.26 from 87 cents a year ago.
“To date, we have no aircraft delivering to any country that has announced reciprocal tariffs applicable to aircraft,” said John L. Plueger, the company’s CEO and president.
The company continues to benefit from strong global aircraft demand in both leasing and aircraft trading as significant aircraft supply constraints persist, Plueger added in the statement to investors.
Europe Movers; Audi, Ferrari, Fresenius Medical, MTU Aero, Phillips, Vestas
Inga Muller
06 May, 2025
Frankfurt
Audi AG gained 0.1% to €96.66 after the German passenger car manufacturer reported mixed first-quarter 2025 results.
Revenue increased 12% to €15.4 billion from €13.72 billion, and operating profit amounted to €0.5 billion from €466 million a year ago, mainly driven by a better mix as well as a higher battery electric vehicle share.
The company delivered 388,756 cars of the Audi, Lamborghini, and Bentley brands, a decline of 3.3% from a year earlier, while deliveries of fully electric Audi models increased by 30%.
Audi guided fiscal 2025 revenue to be between €67.5 billion and €72.5 billion, compared to €64.53 billion in 2024.
The company estimated vehicle deliveries between 1.7 million and 1.8 million, compared to 1.69 million vehicles a year ago.
Koninklijke Philips NV dropped 0.97% to €22.50 after the Dutch electric appliances manufacturer reported first-quarter 2025 results.
Sales decreased to €4.10 billion from €4.14 billion, net income swung to a profit of €76 million from a loss of €999 million, and earnings per share swung to a profit of 8 cents from a loss of €1.07 a year ago.
The company said comparable sales dropped 2% in the quarter, mainly due to slower demand in China, but sales were offset by growth in the personal health segment and royalty phasing.
Comparable order intake increased 2%, primarily driven by strong performance in North America, and the company reiterated its guidance for comparable sales growth between 1% and 3%.
MTU Aero Engines AG advanced 1.4% to €323.40 after the German aircraft engine manufacturer reported first-quarter 2025 results.
Revenue jumped 28% to €2.11 billion from €1.65 billion, net income climbed 77% to €224 million from €126 million, and basic earnings per share rose 71% to €4.03 from €2.35 a year ago.
The company guided fiscal 2025 revenue to be between €8.3 billion and €8.5 billion, compared to €7.41 billion in 2024, and adjusted EBIT to be in the mid-teens percentage range, compared to €1.05 billion a year earlier.
Vestas Wind Systems AS eased 0.98% to 88.50 krona after the Danish wind turbine manufacturer reported first-quarter 2025 results.
Revenue jumped 29% to €3.47 billion from €2.68 billion, net income swung to a profit of €5 million from a loss of €68 million, and earnings per share were breakeven compared to a loss of 7 cents a year ago.
Order intake increased by 36% from a year earlier, driven by strong momentum in offshore and EMEA onshore, the company said in a release to investors.
The company estimated full-year revenue to range between €18 billion and €20 billion, compared to €17.29 billion in 2024; an EBIT margin before special times to be between 4% and 7%, compared to 4.3% a year earlier; and total investments to amount to approximately €1.2 billion, compared to €1.14 billion in 2024.
Fresenius Medical Care AG advanced 1.5% to €46.04 after the kidney dialysis services reported first-quarter 2025 results.
Revenue edged up 3% to €4.88 billion from €4.72 billion, net income surged 113% to €151 million from €71 million, and earnings per share rose 113% to 52 cents from 24 cents a year ago.
As of March 31, Fresenius Medical Care treated 299,358 patients in 3,674 dialysis clinics worldwide and had 112,035 employees globally, compared to 111,513 employees as of December 31.
Ferrari NV surged 1.5% to €416.50 after the Italy-based luxury sports car manufacturer reported first-quarter 2025 results.
Revenue increased 13% to €1.79 billion from €1.58 billion, net profit jumped 17% to €412 million from €352 million, and diluted earnings per share rose 18% to €2.30 from €1.95 a year ago.
Shipments in the quarter rose 0.9% to 3,593 from 3,560 a year earlier, and the company plans to launch six new models this year.
“All key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalizations,” said Benedetto Vigna, CEO of Ferrari.
During the quarter, EMEA was up by 128 units, the Americas increased by 25 units, Mainland China, Hong Kong, and Taiwan decreased by 80 units, and the rest of APAC decreased by 40 units.
The products delivered in the quarter included eight internal combustion engine models and five hybrid engine models, which represented 51% and 49% of total shipments, respectively.
The company guided fiscal 2025 revenue to increase by at least 5% to €7.0 billion compared to €6.7 billion in 2024, and adjusted diluted earnings per share to grow by at least 7% to €8.60, compared to €8.46 a year ago.
The company said its outlook is subject to a potential risk of a 50 basis point reduction in profitability percentage margins in relation to the import tariffs on EU cars into the U.S.
Europe Movers; Audi, Fresenius Medical, MTU Aero, Phillips, Vestas
Inga Muller
06 May, 2025
Frankfurt
Audi AG gained 0.1% to €96.66 after the German passenger car manufacturer reported mixed first-quarter 2025 results.
Revenue increased 12% to €15.4 billion from €13.72 billion, and operating profit amounted to €0.5 billion from €466 million a year ago, mainly driven by a better mix as well as a higher battery electric vehicle share.
The company delivered 388,756 cars of the Audi, Lamborghini, and Bentley brands, a decline of 3.3% from a year earlier, while deliveries of fully electric Audi models increased by 30%.
Audi guided fiscal 2025 revenue to be between €67.5 billion and €72.5 billion, compared to €64.53 billion in 2024.
The company estimated vehicle deliveries between 1.7 million and 1.8 million, compared to 1.69 million vehicles a year ago.
Koninklijke Philips NV dropped 0.97% to €22.50 after the Dutch electric appliances manufacturer reported first-quarter 2025 results.
Sales decreased to €4.10 billion from €4.14 billion, net income swung to a profit of €76 million from a loss of €999 million, and earnings per share swung to a profit of 8 cents from a loss of €1.07 a year ago.
The company said comparable sales dropped 2% in the quarter, mainly due to slower demand in China, but sales were offset by growth in the personal health segment and royalty phasing.
Comparable order intake increased 2%, primarily driven by strong performance in North America, and the company reiterated its guidance for comparable sales growth between 1% and 3%.
MTU Aero Engines AG advanced 1.4% to €323.40 after the German aircraft engine manufacturer reported first-quarter 2025 results.
Revenue jumped 28% to €2.11 billion from €1.65 billion, net income climbed 77% to €224 million from €126 million, and basic earnings per share rose 71% to €4.03 from €2.35 a year ago.
The company guided fiscal 2025 revenue to be between €8.3 billion and €8.5 billion, compared to €7.41 billion in 2024, and adjusted EBIT to be in the mid-teens percentage range, compared to €1.05 billion a year earlier.
Vestas Wind Systems AS eased 0.98% to 88.50 krona after the Danish wind turbine manufacturer reported first-quarter 2025 results.
Revenue jumped 29% to €3.47 billion from €2.68 billion, net income swung to a profit of €5 million from a loss of €68 million, and earnings per share were breakeven compared to a loss of 7 cents a year ago.
Order intake increased by 36% from a year earlier, driven by strong momentum in offshore and EMEA onshore, the company said in a release to investors.
The company estimated full-year revenue to range between €18 billion and €20 billion, compared to €17.29 billion in 2024; an EBIT margin before special times to be between 4% and 7%, compared to 4.3% a year earlier; and total investments to amount to approximately €1.2 billion, compared to €1.14 billion in 2024.
Fresenius Medical Care AG advanced 1.5% to €46.04 after the kidney dialysis services reported first-quarter 2025 results.
Revenue edged up 3% to €4.88 billion from €4.72 billion, net income surged 113% to €151 million from €71 million, and earnings per share rose 113% to 52 cents from 24 cents a year ago.
As of March 31, Fresenius Medical Care treated 299,358 patients in 3,674 dialysis clinics worldwide and had 112,035 employees globally, compared to 111,513 employees as of December 31.