Europe Mover: Banco Santander, Diego, Infineon, Ferrari, Pandora, Spotify, Tom Tom, Vodafone

Inga Muller
05 Feb, 2025
Frankfurt

European markets remained under pressure amid economic and international trade uncertainties, and investors shifted focus to the latest batch of earnings. 

The DAX index decreased by 0.4% to 21,415.70; the CAC-40 index fell 0.38% to 7,876.58; and the FTSE 100 index declined by 0.06% to 8,565.20. 

The yield on 10-year German bonds inched lower to 2.36%, French bonds eased to 3.07%, the UK gilts moved up to 4.60%, and Italian bonds edged lower to 3.45%.

 

European Stock Movers

Advanced semiconductor equipment makers declined after AMD reported weaker-than-estimated sales in its data center unit. 

ASML decreased 1.1% to €704.40, Infineon Technologies AG gained 0.6% to €34.70, and NXP Semiconductors fell 0.8% to €193.50.

Future plc increased 2.6% to 960.0 pence after the UK-based publishing company, and the parent company of Marie Claire, reiterated its fiscal 2025 annual outlook. 

GSK plc jumped 5.6% to 1,460.04 pence after the UK-based pharmaceutical company reported strong 2024 results, and the company raised its long-term sales outlook. 

Credit Agricole gained 1.6% to €14.82 after the French bank reported better-than-expected earnings for the fourth quarter of 2024, driven by higher revenue.

Banco Santander soared 7.2% to €5.35 after the Spanish bank reported a record quarterly profit and announced a stock repurchase plan worth €10 billion.

The Spanish bank with a vast network of branches across Europe and the Americas is reportedly reviewing its UK retail operations, which could lead to the closure of its branches.

Pandora AS decreased 0.5% to 1,367.0 Danish krone after the fashion jewelry retailer estimated organic growth in 2025 is likely to be lower than in the previous year.

 

Recent Earnings 

Infineon Technologies AG surged 10.4% to €34.49 despite the German semiconductors manufacturer reporting a decline in first quarter sales by 8%, but earnings improved sequentially from the fourth quarter of 2024.

Revenue dropped to €3.42 billion from €3.70 billion, profit decreased to €246 million from €587 million, and earnings per diluted share fell to 18 cents from 44 cents a year ago.

For the second quarter of fiscal 2025, the company estimated revenue of around €3.6 billion.

Infineon raised its full-year 2025 guidance for a flat to slightly higher revenue, compared to its previous forecast for a slight revenue decline.

In the fourth quarter of fiscal 2024, the company swung to a net loss of €84 million, and a diluted loss per share of 7 cents.

Diageo Plc dropped 1.6% to 2,326 pence after the UK-based alcoholic beverage company posted lower-than-expected earnings for the fiscal half year 2025 ending in December.

With 45% of U.S. sales coming from Canada and Mexico, the company expects a short-term hit with potential downside to its lowered fiscal 2025 profitability, if the proposed U.S. tariffs are implemented.

Net sales declined 0.6% to $10.90 billion from $10.96 billion, operating profit fell 5% to $3.15 billion from $3.32 billion, and earnings per share fell 12% to 86.9 cents from 98.4 cents a year ago.

Profit for the period fell to $2.07 billion from $2.34 billion a year earlier.

Diageo plans to pay an interim dividend of 40.50 cents per share on April 24 to holders of ordinary shares and U.S. ADRs on register as of February 28. 

Vodafone Group Plc slumped 7.1% to €65.08 pence after the British telecom company posted steady revenue growth for the third quarter of fiscal 2025, but sales in Germany declined.

Revenue increased to €9.81 billion from €9.35 billion, and operating profit declined to €1.02 billion from €1.25 billion a year ago.

Group service revenue growth accelerated to 5.2%, supported by a step-up in the U.K. and strong performance in Turkey and Africa, while in Germany is impacted by the TV law change.

During the quarter, Vodafone completed the sale of its Italian business for €8 billion, and agreed to merge with mobile data provider Three in the U.K.

Ferrari NV surged 8% to €448.70 after the Italian racing and sports car manufacturer reported higher revenue in fiscal year 2024, despite declining shipments in mainland China, Hong Kong and Taiwan.

Revenue increased to €6.67 billion from €5.97 billion, net profit rose to €1.53 billion from €1.26 billion, and earnings per diluted share rose to €8.46 from €6.90 a year ago.

For the three months ending in December, revenue jumped to €1.74 billion from €1.52 billion, net profit surged to €386 million from €294 million, and earnings per diluted share rose to €2.14 from €1.62 a year earlier.

For fiscal year 2025, Ferrari estimated a 5% revenue increase to €7 billion, operating profit up 7% to €2.03 billion from €1.89 billion in 2024, and earnings per share above €8.60.

The company proposed a share repurchase program worth €150 million, allocated no later than February 20.

TomTom N.V. plunged 14.2% to €4.30 after the Dutch developer and creator of location technology and consumer electronics estimated lower 2025 sales on automotive market slowdown.

Revenue in the fourth quarter decreased by 1% to €142.2 million from €143.4 million, net loss shrank to €5.7 million from €11.6 million, and diluted loss per share declined to 5 cents from 9 cents a year ago.

For fiscal year 2025, the company estimated revenue between €505 million to €565 million, compared to €574 million last year.

Spotify gained 1.3% to €595.90 after the Swedish music streaming company reported higher earnings for its fourth quarter ending in December.

Revenue increased to €4.24 billion from €3.67 billion, net income jumped to €367 million from a loss of €70 million, and earnings per diluted share rose to €1.76 from a loss of 36 cents a year ago.

For the first quarter of 2025, the company estimated monthly active users of 678 million and premium subscribers of 265 million.

The company revenue in the first quarter is estimated to increase to €4.2 billion from €3.6 billion a year earlier.

NXP Semiconductors N.V. dropped 0.8% to €193.50 after the Dutch company posted a 9% decline in fourth-quarter sales.

Revenue declined to $3.11 billion from $3.42 billion, net income slumped to $505 million from $703 million, and earnings per diluted share fell to $1.93 from $2.68 a year ago.

NXP paid $258 million in cash dividends during the quarter, in addition, the company repurchased $455 million of its common shares.

Looking ahead to the first quarter of 2025, NXP estimated revenue between $2.72 billion and $2.69 billion, and earnings per share between $2.29 and $2.79.