Market Update
Europe Movers; Audi, Fresenius Medical, MTU Aero, Phillips, Vestas Wind Systems
Inga Muller
06 May, 2025
Frankfurt
Audi AG gained 0.1% to €96.66 after the German car manufacturer reported 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, and deliveries to customers to be between 1.7 million and 1.8 million vehicles, 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 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 retains its guidance for comparable sales growth between 1% and 3% unchanged.
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 zero 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 provider of products and services for people with chronic kidney failure 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.
China Stock Indexes Advance After Investors Return from Labor Day Holidays
Li Chen
06 May, 2025
Hong Kong
Stock market indexes in China and Hong Kong advanced despite elevated trade tensions with the U.S.
The Hang Seng index advanced 0.5%, and the CSI 300 index gained nearly 1% as foreign investors stepped up purchases in Hong Kong and China.
The Hong Kong Monetary Authority was forced to intervene for the third time in four days to keep the local currency's peg to the U.S. dollar amid rising net inflows from foreign investors.
The Hong Kong dollar traded near the upper end of its trading range at 7.757 against the U.S. dollar, as investors chased technology and financial stocks.
The Hong Kong Monetary Authority sold a record HK$60 billion and purchased $7.8 billion at an exchange rate of HK$7.75 for every U.S. dollar, according to a statement available on the de facto central bank's website.
In overnight trading, the U.S. market indexes declined as much as 0.9% amid growing conviction that the Federal Reserve is less likely to cut rates at the end of a two-day meeting on Wednesday because high level of uncertainty linked to tariffs.
China Indexes and Stocks
The Hang Seng index added 0.5% to 22,617.36, and the mainland-focused CSI 300 index added 0.9% to 3,802.73.
AIA Group Ltd. increased 2.7% to HK$60.70, Ping An Insurance Company edged down 0.6% to HK$46.30, and China Life Insurance added 0.4% to HK$14.56.
BYD increased 0.6% to HK $384.60, Xiaomi decreased 2.6% to HK $51.70, and Li Auto Inc. declined 1% to HK $97.65.
Alibaba Group Holding gained 1.1% to HK $123.40, Tencent Holdings advanced 1.3% to HK $494.20, and Meituan jumped 4.3% to HK $138.20.
China Stock Indexes Advance After Investors Return from Golden Week Holidays
Li Chen
06 May, 2025
Hong Kong
Stock market indexes in China and Hong Kong advanced despite elevated trade tensions with the U.S.
The Hang Seng index advanced 0.5%, and the CSI 300 index gained nearly 1% as foreign investors stepped up purchases in Hong Kong and China.
The Hong Kong Monetary Authority was forced to intervene for the third time in four days to keep the local currency's peg to the U.S. dollar amid rising net inflows from foreign investors.
The Hong Kong dollar traded near the upper end of its trading range at 7.757 against the U.S. dollar, as investors chased technology and financial stocks.
The Hong Kong Monetary Authority sold a record HK$60 billion and purchased $7.8 billion at an exchange rate of HK$7.75 for every U.S. dollar, according to a statement available on the de facto central bank's website.
In overnight trading, the U.S. market indexes declined as much as 0.9% amid growing conviction that the Federal Reserve is less likely to cut rates at the end of a two-day meeting on Wednesday because high level of uncertainty linked to tariffs.
China Indexes and Stocks
The Hang Seng index added 0.5% to 22,617.36, and the mainland-focused CSI 300 index added 0.9% to 3,802.73.
AIA Group Ltd. increased 2.7% to HK$60.70, Ping An Insurance Company edged down 0.6% to HK$46.30, and China Life Insurance added 0.4% to HK$14.56.
BYD increased 0.6% to HK $384.60, Xiaomi decreased 2.6% to HK $51.70, and Li Auto Inc. declined 1% to HK $97.65.
Alibaba Group Holding gained 1.1% to HK $123.40, Tencent Holdings advanced 1.3% to HK $494.20, and Meituan jumped 4.3% to HK $138.20.
S&P 500 Index Set to End 9-Day Rally Amid New Tariffs and Ahead of Rate Decisions
Barry Adams
05 May, 2025
New York City
Wall Street indexes declined in Monday's trading after the U.S. president unleashed another wave of tariffs.
The S&P 500 index fell 0.6%, and the Nasdaq Composite declined 0.7% amid fresh worries of another change in the U.S. trade policy.
Movie studio operators and streaming service providers led the decliners after Donald Trump announced 100% tariffs on foreign-made movies.
Investors turned cautious on Monday after benchmark indexes erased most of the tariff-driven losses over the last four weeks.
Last week, Wall Street indexes rebounded for the second consecutive week and erased April’s losses as investors reacted positively to quarterly results from leading tech and industrial companies.
Investors reviewed a flood of economic reports, including job market and GDP growth updates, and despite the tariff uncertainties, the U.S. job market expanded at a healthy pace, soothing the nerves of investors.
However, April’s increase in payrolls is likely to be revised sharply lower next month because the surveys were conducted in the second week of the month, and businesses still had not experienced the full brunt of the Trump administration’s tariff flip-flops.
Week Ahead
In the week ahead, investors are looking ahead to interest rate decisions from the Federal Reserve and the release of international trade data.
The U.S. Federal Reserve is expected to hold steady its key fed funds rate range between 4.25% and 4.5%, despite the growing pressure from the White House to lower rates at the upcoming meeting.
The Bank of England is widely expected to cut rates by 25 basis points to 4.25% on Thursday, and investors are anticipating two additional rate cuts totaling 50 basis points in the remainder of the year.
On the earnings front, investors anticipate results from Berkshire Hathaway, Marriott International, Costco Wholesale, Uber Technologies, Arm Holdings, Shopify, Walt Disney, ConocoPhillips, and Ford Motor Company.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.7% to 5,646.96, the Nasdaq Composite edged down 0.7% to 17,850.61, and the Russell 2000 index was down 0.9% to 2,002.72.
The yield on 2-year Treasury notes edged lower to 3.82%, 10-year Treasury notes increased to 4.32%, and 30-year Treasury bonds advanced to 4.83%.
WTI crude oil decreased $0.96 to $57.33 a barrel, and natural gas prices edged higher by $0.01 to $3.64 a thermal unit.
Gold increased by $78.95 to $3,318.31 an ounce, and silver edged up by $0.54 to $32.54.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.54 to 99.49, and it traded at the lowest level since April 2022.
U.S. Stock Movers
Movie studios were under pressure after the U.S. president proposed a levy of 100% on movies made outside of the United States.
Warner Brothers Discovery declined 3.6% to $8.23, Walt Disney Company decreased 3.5% to $89.38, and Fox Corp. eased 0.4% to $49.27.
Howard Hughes Holdings jumped 7.5% to $72.50, and Bill Ackman-controlled Pershing Square acquired an additional stake in the company for $900 million.
The company will sell 9 million newly issued shares to Pershing Square, and the purchase price is a 48% premium over Friday's close.
After the latest infusion, Pershing Square's economic stake in the company will increase to 46.9% and voting stake to 40%.
In addition, Howard Hughes will pay Pershing Square a quarterly base fee of $3.75 million and a quarterly management fee that reflects changes in its market capitalization.
S&P 500 Index Set to End 9-Day Rally Amid New Tariffs and Ahead of Rate Decisions
Barry Adams
05 May, 2025
New York City
Wall Street indexes declined in Monday's trading after the U.S. president unleashed another wave of tariffs.
The S&P 500 index fell 0.6%, and the Nasdaq Composite declined 0.7% amid fresh worries of another change in the U.S. trade policy.
Movie studio operators and streaming service providers led the decliners after Donald Trump announced 100% tariffs on foreign-made movies.
Investors turned cautious on Monday after benchmark indexes erased most of the tariff-driven losses over the last four weeks.
Last week, Wall Street indexes rebounded for the second consecutive week and erased April’s losses as investors reacted positively to quarterly results from leading tech and industrial companies.
Investors reviewed a flood of economic reports, including job market and GDP growth updates, and despite the tariff uncertainties, the U.S. job market expanded at a healthy pace, soothing the nerves of investors.
However, April’s increase in payrolls is likely to be revised sharply lower next month because the surveys were conducted in the second week of the month, and businesses still had not experienced the full brunt of the Trump administration’s tariff flip-flops.
Week Ahead
In the week ahead, investors are looking ahead to interest rate decisions from the Federal Reserve and the release of international trade data.
The U.S. Federal Reserve is expected to hold steady its key fed funds rate range between 4.25% and 4.5%, despite the growing pressure from the White House to lower rates at the upcoming meeting.
The Bank of England is widely expected to cut rates by 25 basis points to 4.25% on Thursday, and investors are anticipating two additional rate cuts totaling 50 basis points in the remainder of the year.
On the earnings front, investors anticipate results from Berkshire Hathaway, Marriott International, Costco Wholesale, Uber Technologies, Arm Holdings, Shopify, Walt Disney, ConocoPhillips, and Ford Motor Company.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 0.7% to 5,646.96, the Nasdaq Composite edged down 0.7% to 17,850.61, and the Russell 2000 index was down 0.9% to 2,002.72.
The yield on 2-year Treasury notes edged lower to 3.82%, 10-year Treasury notes increased to 4.32%, and 30-year Treasury bonds advanced to 4.83%.
WTI crude oil decreased $0.96 to $57.33 a barrel, and natural gas prices edged higher by $0.01 to $3.64 a thermal unit.
Gold increased by $78.95 to $3,318.31 an ounce, and silver edged up by $0.54 to $32.54.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.54 to 99.49, and it traded at the lowest level since April 2022.
U.S. Stock Movers
Movie studios were under pressure after the U.S. president proposed a levy of 100% on movies made outside of the United States.
Warner Brothers Discovery declined 3.6% to $8.23, Walt Disney Company decreased 3.5% to $89.38, and Fox Corp. eased 0.4% to $49.27.
Howard Hughes Holdings jumped 7.5% to $72.50, and Bill Ackman-controlled Pershing Square acquired an additional stake in the company for $900 million.
The company will sell 9 million newly issued shares to Pershing Square, and the purchase price is a 48% premium over Friday's close.
After the latest infusion, Pershing Square's economic stake in the company will increase to 46.9% and voting stake to 40%.
In addition, Howard Hughes will pay Pershing Square a quarterly base fee of $3.75 million and a quarterly management fee that reflects changes in its market capitalization.
Europe Markets Lack Direction Ahead of Rate Decisions and Busy Week of Earnings and Economic Releases
Bridgette Randall
05 May, 2025
London
European markets diverged in Monday's trading, and investors awaited a busy week of earnings and economic data.
Benchmark indexes in Frankfurt advanced but fell in Paris, and financial markets were closed in London for a holiday.
Stock market indexes extended their rebound to the third week in a row amid positive earnings and hopes of a cooling of trade tensions between China and the U.S.
Investors are also hoping that the U.S. will extend the pause on tariffs on steel and aluminum imports from Europe beyond June.
The Bank of England is widely expected to cut rates by 25 basis points to 4.25% on Thursday, and investors are anticipating two additional rate cuts totaling 50 basis points in the remainder of the year.
The U.S. Federal Reserve is expected to hold steady its key fed funds rate range between 4.25% and 4.5%, despite the growing pressure from the White House to lower rates at the upcoming meeting.
Week Ahead
In Europe, investors are looking ahead to the release of the service sector activities, factory orders in Germany, France’s international trade data, and wholesale inflation in the eurozone.
Italy and the euro area are scheduled to release their retail sales reports, and Germany will report on construction, industrial production, and balance of trade as well.
Spain is scheduled to release its industrial production figures, and the U.K. will report on house prices, the Bank of England’s interest rate decision, and industrial and manufacturing production.
Italy is scheduled to release its industrial production data on Friday.
On the earnings front in Europe, investors are looking ahead to results from Ferrari, Phillips, Telenor, UniCredit, Novo Nordisk, BMW AG, Siemens Energy, Infineon Technologies, Commerzbank, Heidelberg Materials, and Swisscom.
Europe Indexes and Yields
The DAX index increased by 0.4% to 23,174.75, the CAC-40 index edged lower 0.4% to 7,737.89, and trading in London is closed on Monday.
The yield on 10-year German bonds inched higher to 2.52%, French bonds increased to 3.24%, UK gilts moved down to 4.52%, and Italian bonds edged lower to 3.63%.
The euro increased to $1.13; the British pound was higher at $1.33; and the U.S. dollar was lower and traded at 82.60 Swiss cents.
Brent crude decreased $1.22 to $60.07 a barrel, and the Dutch TTF natural gas was higher by €0.14 to €32.76 per MWh.
Europe Movers
Luxury fashion stocks traded higher after China and the U.S. appeared to warm up to start trade negotiations.
Kering SA decreased 0.6% to €179.62, Hermes International edged up 0.2% to €2,435.0, and LVMH decreased 0.4% to €493.95.
Banks led broader averages higher ahead of earnings results this week.
UniCredit SpA decreased 0.8% to €52.22, Commerzbank jumped 1.9% to €24.04, and Intesa Sanpaolo SpA advanced 0.3% to €4.77.
Europe Markets Lack Direction Ahead of Rate Decisions and Busy Week of Earnings and Economic Releases
Bridgette Randall
05 May, 2025
London
European markets diverged in Monday's trading, and investors awaited a busy week of earnings and economic data.
Benchmark indexes in Frankfurt advanced but fell in Paris, and financial markets were closed in London for a holiday.
Stock market indexes extended their rebound to the third week in a row amid positive earnings and hopes of a cooling of trade tensions between China and the U.S.
Investors are also hoping that the U.S. will extend the pause on tariffs on steel and aluminum imports from Europe beyond June.
The Bank of England is widely expected to cut rates by 25 basis points to 4.25% on Thursday, and investors are anticipating two additional rate cuts totaling 50 basis points in the remainder of the year.
The U.S. Federal Reserve is expected to hold steady its key fed funds rate range between 4.25% and 4.5%, despite the growing pressure from the White House to lower rates at the upcoming meeting.
Week Ahead
In Europe, investors are looking ahead to the release of the service sector activities, factory orders in Germany, France’s international trade data, and wholesale inflation in the eurozone.
Italy and the euro area are scheduled to release their retail sales reports, and Germany will report on construction, industrial production, and balance of trade as well.
Spain is scheduled to release its industrial production figures, and the U.K. will report on house prices, the Bank of England’s interest rate decision, and industrial and manufacturing production.
Italy is scheduled to release its industrial production data on Friday.
On the earnings front in Europe, investors are looking ahead to results from Ferrari, Phillips, Telenor, UniCredit, Novo Nordisk, BMW AG, Siemens Energy, Infineon Technologies, Commerzbank, Heidelberg Materials, and Swisscom.
Europe Indexes and Yields
The DAX index increased by 0.4% to 23,174.75, the CAC-40 index edged lower 0.4% to 7,737.89, and trading in London is closed on Monday.
The yield on 10-year German bonds inched higher to 2.52%, French bonds increased to 3.24%, UK gilts moved down to 4.52%, and Italian bonds edged lower to 3.63%.
The euro increased to $1.13; the British pound was higher at $1.33; and the U.S. dollar was lower and traded at 82.60 Swiss cents.
Brent crude decreased $1.22 to $60.07 a barrel, and the Dutch TTF natural gas was higher by €0.14 to €32.76 per MWh.
Europe Movers
Luxury fashion stocks traded higher after China and the U.S. appeared to warm up to start trade negotiations.
Kering SA decreased 0.6% to €179.62, Hermes International edged up 0.2% to €2,435.0, and LVMH decreased 0.4% to €493.95.
Banks led broader averages higher ahead of earnings results this week.
UniCredit SpA decreased 0.8% to €52.22, Commerzbank jumped 1.9% to €24.04, and Intesa Sanpaolo SpA advanced 0.3% to €4.77.
U.S. Movers: Berkshire Hathaway, Chevron, Exxon Mobil, Terex, T. Rowe
Scott Peters
05 May, 2025
New York City
Berkshire Hathaway Inc. advanced 1.8% to $539.80 after the diversified conglomerate with businesses in insurance, freight rail transportation, and utility sectors reported first-quarter 2025 results.
Revenue edged down to $89.72 billion from $89.87 billion, net earnings plunged to $4.60 billion from $12.70 billion, and earnings per share fell to $2.13 from $5.88 a year ago.
Exxon Mobil Corp. eased 0.06% to $106.15 after the energy company reported first-quarter 2025 results.
Revenue edged up to $83.13 billion from $83.08 billion, net income declined to $7.71 billion from $8.22 billion, and diluted earnings per share fell to $1.76 from $2.06 a year ago.
Cash flow from operating activities was $13.0 billion, and free cash flow was $8.8 billion.
During the quarter, the company returned $9.1 billion to shareholders, of which $4.3 billion was in dividends and $4.8 billion in share repurchases.
“This year, we're starting up 10 advantaged projects that are expected to generate more than $3 billion of earnings in 2026 at constant prices and margins,” the company said in a release to investors.
Exxon proposed a second-quarter dividend of 99 cents per share, payable on June 10 to shareholders on record as of May 15.
Chevron Corp. eased 0.07% to $138.40 after the energy company reported first-quarter 2025 results.
Revenue declined to $47.61 billion from $48.72 billion, net income plunged to $3.50 billion from $5.50 billion, and diluted earnings per share fell to $2.00 from $2.97 a year ago.
“Included in the quarter was a net loss of $175 million related to legal reserves and a tax charge due to changes in the energy profits levy in the United Kingdom that were partially offset by the fair value measurement of Hess Corporation shares,” the company said in a release to investors.
Foreign currency effects decreased earnings by $138 million, the company added in the statement.
Over the last three years, Chevron has returned more than $78 billion of cash to shareholders, and during the first quarter, the company returned $6.9 billion of cash, including share repurchases of $3.9 billion and dividends of $3.0 billion.
The energy company proposed a quarterly dividend of $1.71 per share, payable on June 10 to stockholders on record as of May 19.
T. Rowe Price Group Inc. inched down 0.05% to $91.60 after the investment management company reported first-quarter 2025 results.
Revenue edged up to $1.76 billion from $1.75 billion, net income declined to $490.5 million from $573.8 million, and diluted earnings per share fell to $2.15 from $2.49 a year ago.
Quarter-end assets under management increased 1.6% to $1.57 trillion from $1.54 trillion a year earlier.
The company returned $506 million to shareholders in the quarter from the recurring quarterly dividend and stock repurchases.
Terex Corp. traded flat at $39.83 after the industrial equipment provider reported first-quarter 2025 results.
Net sales declined to $1.23 billion from $1.29 billion, operating profit plunged to $111 million from $163 million, and earnings per share fell to 83 cents from $1.74 a year ago.
The company guided fiscal 2025 net sales to range between $5.30 billion and $5.50 billion, compared to $5.13 billion in 2024, and earnings per share to be between $4.70 and $5.10, compared to $4.96 a year earlier.
U.S. Movers: Berkshire Hathaway, Chevron, Exxon Mobil, Terex, T. Rowe
Scott Peters
05 May, 2025
New York City
Berkshire Hathaway Inc. advanced 1.8% to $539.80 after the diversified conglomerate with businesses in insurance, freight rail transportation, and utility sectors reported first-quarter 2025 results.
Revenue edged down to $89.72 billion from $89.87 billion, net earnings plunged to $4.60 billion from $12.70 billion, and earnings per share fell to $2.13 from $5.88 a year ago.
Exxon Mobil Corp. eased 0.06% to $106.15 after the energy company reported first-quarter 2025 results.
Revenue edged up to $83.13 billion from $83.08 billion, net income declined to $7.71 billion from $8.22 billion, and diluted earnings per share fell to $1.76 from $2.06 a year ago.
Cash flow from operating activities was $13.0 billion, and free cash flow was $8.8 billion.
During the quarter, the company returned $9.1 billion to shareholders, of which $4.3 billion was in dividends and $4.8 billion in share repurchases.
“This year, we're starting up 10 advantaged projects that are expected to generate more than $3 billion of earnings in 2026 at constant prices and margins,” the company said in a release to investors.
Exxon proposed a second-quarter dividend of 99 cents per share, payable on June 10 to shareholders on record as of May 15.
Chevron Corp. eased 0.07% to $138.40 after the energy company reported first-quarter 2025 results.
Revenue declined to $47.61 billion from $48.72 billion, net income plunged to $3.50 billion from $5.50 billion, and diluted earnings per share fell to $2.00 from $2.97 a year ago.
“Included in the quarter was a net loss of $175 million related to legal reserves and a tax charge due to changes in the energy profits levy in the United Kingdom that were partially offset by the fair value measurement of Hess Corporation shares,” the company said in a release to investors.
Foreign currency effects decreased earnings by $138 million, the company added in the statement.
Over the last three years, Chevron has returned more than $78 billion of cash to shareholders, and during the first quarter, the company returned $6.9 billion of cash, including share repurchases of $3.9 billion and dividends of $3.0 billion.
The energy company proposed a quarterly dividend of $1.71 per share, payable on June 10 to stockholders on record as of May 19.
T. Rowe Price Group Inc. inched down 0.05% to $91.60 after the investment management company reported first-quarter 2025 results.
Revenue edged up to $1.76 billion from $1.75 billion, net income declined to $490.5 million from $573.8 million, and diluted earnings per share fell to $2.15 from $2.49 a year ago.
Quarter-end assets under management increased 1.6% to $1.57 trillion from $1.54 trillion a year earlier.
The company returned $506 million to shareholders in the quarter from the recurring quarterly dividend and stock repurchases.
Terex Corp. traded flat at $39.83 after the industrial equipment provider reported first-quarter 2025 results.
Net sales declined to $1.23 billion from $1.29 billion, operating profit plunged to $111 million from $163 million, and earnings per share fell to 83 cents from $1.74 a year ago.
The company guided fiscal 2025 net sales to range between $5.30 billion and $5.50 billion, compared to $5.13 billion in 2024, and earnings per share to be between $4.70 and $5.10, compared to $4.96 a year earlier.
Europe Movers: Mercedes Benz, NatWest Group, Pearson
Inga Muller
05 May, 2025
Frankfurt
Mercedes-Benz Group gained 1.6% to €53.30 after the German vehicle manufacturer reported first-quarter 2025 results.
Revenue declined to €33.22 billion from €35.87 billion, net profit dropped to €1.68 billion from €2.97 billion, and diluted earnings per share fell to €1.74 from €2.86 a year ago.
“Weak consumer sentiment and the impact of a significant increase in US tariffs will weigh on growth this year, particularly in the USA,” the company said in a release to investors.
In China, the tariffs are expected to contribute to a significant slowdown in exports, amid persistently weak domestic demand; however, fiscal stimulus should support growth in return, the company added in the statement.
Overall, the company estimated a noticeable slowdown in global growth to just over 2%, partially offset by an increase in sales of mid-size vans in China.
Pearson plc advanced 0.7% to 1,182.50 pence after the UK-based learning company released a first-quarter trading update.
Group sales were up 1%, with growth expected to accelerate in the second half of the year, and sales in the higher education segment were up 6%.
The company launched a £350 million share buyback program during the quarter.
“We continue to make good progress against our strategy, supporting our medium-term growth outlook,” the company said in a release to investors.
Assessment and qualification sales were up 1% in the quarter, virtual learning sales decreased 4%, English language learning sales edged down 6%, and enterprise learning and skills sales were up 1%.
NatWest Group plc surged 0.7% to 479.10 pence after the UK-based banking and financial services company reported first-quarter 2025 results.
Total income increased by 14.5% to £3.98 billion from £3.47 billion, and attributable profit edged up 36.4% to £1.25 billion from £918 million a year ago.
The company guided fiscal 2025 return on tangible equity to be at the upper end of its previous estimated range of between 15% and 16%.
Income excluding notable items is expected to be at the upper end of the company’s previously guided range of £15.2 billion and £15.7 billion.
The bank expects group operating costs, excluding litigation and conduct costs, to be around £8.1 billion, including around £0.1 billion of one-time integration costs.
Europe Movers: Mercedes Benz, NatWest Group, Pearson
Inga Muller
05 May, 2025
Frankfurt
Mercedes Benz Group gained 1.6% to €53.30 after the German vehicle manufacturer reported first-quarter 2025 results.
Revenue declined to €33.22 billion from €35.87 billion, net profit dropped to €1.68 billion from €2.97 billion, and diluted earnings per share fell to €1.74 from €2.86 a year ago.
“Weak consumer sentiment and the impact of a significant increase in US tariffs will weigh on growth this year, particularly in the USA,” the company said in a release to investors.
In China, the tariffs are expected to contribute to a significant slowdown in exports, amid persistently weak domestic demand; however, fiscal stimulus should support growth in return, the company added in the statement.
Overall, the company estimated a noticeable slowdown in global growth to just over 2%, partially offset by an increase in sales of mid-size vans in China.
Pearson plc advanced 0.7% to 1,182.50 pence after the UK-based learning company released a first-quarter trading update.
Group sales were up 1%, with growth expected to accelerate in the second half of the year, and sales in the higher education segment were up 6%.
The company launched a £350 million share buyback program during the quarter.
“We continue to make good progress against our strategy, supporting our medium-term growth outlook,” the company said in a release to investors.
Assessment and qualification sales were up 1% in the quarter, virtual learning sales decreased 4%, English language learning sales edged down 6%, and enterprise learning and skills sales were up 1%.
NatWest Group plc surged 0.7% to 479.10 pence after the UK-based banking and financial services company reported first-quarter 2025 results.
Total income increased by 14.5% to £3.98 billion from £3.47 billion, and attributable profit edged up 36.4% to £1.25 billion from £918 million a year ago.
The company guided fiscal 2025 return on tangible equity to be at the upper end of its previous estimated range of between 15% and 16%.
Income excluding notable items is expected to be at the upper end of the company’s previously guided range of £15.2 billion and £15.7 billion.
The bank expects group operating costs, excluding litigation and conduct costs, to be around £8.1 billion, including around £0.1 billion of one-time integration costs.
India Indexes Extend Gains Despite Weak Bank Earnings, Crude Oil Drops to 4-Year Low
Arjun Pandit
05 May, 2025
Select
Stock market indexes in India advanced in Monday's trading as investors reviewed the fresh batch of earnings, and crude oil prices eased.
The Sensex and Nifty indexes advanced as investors increased exposures to recently beaten-down stocks.
Market sentiment improved after the international price of crude oil dropped to a four-year low of $56.45 a barrel after OPEC+ announced it would increase production after a meeting on Saturday.
Saudi Arabia, the leader of the OPEC+, decided to flood the market by as much as 2 million barrels over the six months to November and influence other members to curtail their excess production.
Investors also took note of a possible thawing of trade tensions between the U.S. and China after Beijing showed a willingness to discuss tariffs and trade frameworks.
Over the weekend, Singapore's long-ruling party, PAP, won another landslide victory in the general election held over the weekend, giving a boost to the new prime minister, Lawrence Wong.
In Australia, the Labor Party, headed by Prime Minister Anthony Albanese, increased its tally of members in the lower house of the parliament after the federal election on Sunday.
India Indexes and Stocks
Avenue Supermarts decreased 2.6% to ₹3,954.70, and the parent company of D Mart reported a 2% decline in profit in the March quarter.
Kotak Mahindra declined 5.5% to ₹2,070.50, and the financial services provider reported that revenue increased 17% and profit declined 14% in the March quarter.
State Bank of India decreased 1.4% to ₹2,070.50, and the financial services provider reported a profit in the March quarter declined 10% to ₹18,643 crore.
Marico Ltd. advanced 3.5% to ₹718.0, and the consumer products maker said March quarter profit rose 8%.
Tata Motors increased 1% to ₹661.70, and the company's board approved the sale of ₹500 crore non-convertible bonds.
India Indexes Extend Gains Despite Weak Bank Earnings, Crude Oil Drops to 4-Year Low
Arjun Pandit
05 May, 2025
Select
Stock market indexes in India advanced in Monday's trading as investors reviewed the fresh batch of earnings, and crude oil prices eased.
The Sensex and Nifty indexes advanced as investors increased exposures to recently beaten-down stocks.
Market sentiment improved after the international price of crude oil dropped to a four-year low of $56.45 a barrel after OPEC+ announced it would increase production after a meeting on Saturday.
Saudi Arabia, the leader of the OPEC+, decided to flood the market by as much as 2 million barrels over the six months to November and influence other members to curtail their excess production.
Investors also took note of a possible thawing of trade tensions between the U.S. and China after Beijing showed a willingness to discuss tariffs and trade frameworks.
Over the weekend, Singapore's long-ruling party, PAP, won another landslide victory in the general election held over the weekend, giving a boost to the new prime minister, Lawrence Wong.
In Australia, the Labor Party, headed by Prime Minister Anthony Albanese, increased its tally of members in the lower house of the parliament after the federal election on Sunday.
India Indexes and Stocks
Avenue Supermarts decreased 2.6% to ₹3,954.70, and the parent company of D Mart reported a 2% decline in profit in the March quarter.
Kotak Mahindra declined 5.5% to ₹2,070.50, and the financial services provider reported that revenue increased 17% and profit declined 14% in the March quarter.
State Bank of India decreased 1.4% to ₹2,070.50, and the financial services provider reported a profit in the March quarter declined 10% to ₹18,643 crore.
Marico Ltd. advanced 3.5% to ₹718.0, and the consumer products maker said March quarter profit rose 8%.
Tata Motors increased 1% to ₹661.70, and the company's board approved the sale of ₹500 crore non-convertible bonds.