- Inga Muller
- 11 Feb, 2025
- Frankfurt
European markets hovered near recent highs as investors reviewed the latest updates on earnings.
France's jobless rate edged slightly lower in the fourth quarter, and the youth unemployment rate remained elevated.
The DAX index increased by 0.10% to 21,934.27, the CAC-40 index edged lower 0.05% to 8,001.99; and the FTSE 100 index advanced by 0.05% to 8,772.53.
The yield on 10-year German bonds inched higher to 2.41%, French bonds increased to 3.14%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.51%.
Europe Stock Movers
Novartis AG was nearly unchanged at CHF 96.94, and the Swiss pharmaceutical company agreed to acquire Anthos Therapeutics for $3.1 billion.
BP plc decreased 0.6% to 462.30 pence, and the British oil company reported a steep decline in profit in the fourth quarter.
UniCredit SpA decreased 2.8% to €45.93, and the Italian bank estimated a moderate decline in net interest margin in 2025 and reported better-than-expected 2024 earnings.
Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter.
Entain PLC plunged 10.5% to 667.32 pence after the UK-based online gambling company's chief executive Gavin Issacs stepped down immediately after six months in the office.
ams-OSRAM AG jumped 16.8% to CHF 7.95, and the Austrian semiconductor company posted weak sales in the first quarter but held out for a strong recovery in automotive electronics in the fiscal second half.
Recent Earnings Movers
Ceconomy AG gained 0.6% to €3.17 after the German electronics retailer posted revenue growth for the fiscal year 2024.
Sales increased to €22.44 billion from €22.24 billion, net income swung to a profit of €77 million from a loss of €37 million, and earnings per diluted share rose to 16 cents from a loss of 8 cents a year ago.
Same-store sales growth slowed to an increase of 4.1%, compared to 4.3% increase a year earlier.
Chinese e-commerce giant JD.com has signaled an interest to acquire the specialty electronics retailer Ceconomy.
Vinci SA dropped 1.5% to €108.20 despite the French concessions and construction company reporting revenue growth in fiscal year 2024.
Revenue increased to €71.62 billion from €68.39 billion, net income climbed to €5.27 billion from €5.10 billion, and earnings per diluted share rose to €8.43 from €8.18 a year ago.
The company proposed a dividend of €3.70 per share, higher than €3.45 in 2023, and payable on April 24.
In addition, Vinci proposed to purchase shares up to a maximum of 10% of the number of shares making up the company's share capital over a period of 18 months from April 9 to October 8.
GN Store Nord A/S dropped 2.9% to 139.90 krona after the Danish manufacturer of hearing aids, speakerphones, videobars and headsets said revenue declined in the fiscal year 2024.
Revenue decreased to DKK 17.98 billion from DKK 18.12 billion, profit jumped to DKK 1.06 billion from DKK 266 million, and earnings per diluted share rose to DKK 6.78 from DKK 1.64 a year ago.
Revenue in the fourth quarter declined to DKK 5.02 billion from DKK 5.07 billion a year earlier.
GN Store will not pay out dividends for 2024, and the company paused is stock repurchase program for now.
UniCredit SpA dropped 3.1% to 45.83 after Italy’s second-largest lender posted higher-than-expected fourth quarter earnings, but guided weak revenue growth for fiscal 2025.
The bank raised its cash dividend payout guidance to 50% of net profit in 2025, from 40% in 2024.
In fiscal 2024, revenue increased 4% to €24.2 billion from €23.8 billion, and net profit jumped 2% to €9.7 billion from €9.5 billion a year ago.
For fiscal 2025, the bank estimated revenue of above €23 billion, compared to €24.2 billion last year, reflecting compression of its business in Russia and “moderate decline” in expected net interest income.
In November, UniCredit issued a €1 billion floating rate senior preferred bond with 4 years maturity, callable after 3 years, targeted to institutional investors.
Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter.
Revenue declined to €17.19 billion from €19.57 billion, net income dropped to €1.13 billion from €2.98 billion, and earnings per diluted share fell to €9.24 from €24.37 a year ago.
Sales in the Gucci segment decreased 24% to €1.92 billion from €2.53 billion a year earlier, in Yves Saint Laurent they were down 8% to €770 million from €835 million, while in Bottega Veneta sales increased 12% to €480 million from €431 million.
Revenue in the company’s Eyewear and Corporate segment jumped 10% to €434 million from €366 million a year ago.
During the year, Kering acquired real estate assets in New York and Milan as the key desirable locations for its houses.
Ams-OSRAM AG surged 17.6% to CHF 8.01 despite the Austrian semiconductor manufacturer reporting weak results for the fourth quarter ending in December.
Revenue declined to €882 million from €908 million, net loss shrank to €58 million from €82 million, and loss per diluted share declined to 59 cents from a loss of €1.79 a year ago.
For the first quarter of 2025, the company estimated revenue between €750 million and €850 million, in line with further savings efforts.
BP Plc. dropped 0.8% to 461.65 pence after the British energy company reported a sharp drop in fourth-quarter profit on weaker refining margins.
Revenue declined to $45.75 billion from $52.14 billion, net income swung to a loss $1.62 billion from to a profit of $436 million, and loss per diluted share came in at $12.33 from a profit of 13 cents a year ago.
The company launched a $1.75 billion share buyback in the fourth quarter.
During the quarter, BP paid dividends per ADS of 48 cents, higher than 43.62 cents a year earlier.
For fiscal year 2025, the company expects $3 billion in divestment and other proceeds, and the Gulf of Mexico settlement payments of around $1.2 billion pre-tax, including $1.1 billion pre-tax to be paid during the second quarter.
- Inga Muller
- 11 Feb, 2025
- Frankfurt
European markets hovered near recent highs as investors reviewed the latest updates on earnings.
France's jobless rate edged slightly lower in the fourth quarter, and the youth unemployment rate remained elevated.
The DAX index increased by 0.10% to 21,934.27, the CAC-40 index edged lower 0.05% to 8,001.99; and the FTSE 100 index advanced by 0.05% to 8,772.53.
The yield on 10-year German bonds inched higher to 2.41%, French bonds increased to 3.14%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.51%.
Europe Stock Movers
Novartis AG was nearly unchanged at CHF 96.94, and the Swiss pharmaceutical company agreed to acquire Anthos Therapeutics for $3.1 billion.
BP plc decreased 0.6% to 462.30 pence, and the British oil company reported a steep decline in profit in the fourth quarter.
UniCredit SpA decreased 2.8% to €45.93, and the Italian bank estimated a moderate decline in net interest margin in 2025 and reported better-than-expected 2024 earnings.
Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter.
Entain PLC plunged 10.5% to 667.32 pence after the UK-based online gambling company's chief executive Gavin Issacs stepped down immediately after six months in the office.
ams-OSRAM AG jumped 16.8% to CHF 7.95, and the Austrian semiconductor company posted weak sales in the first quarter but held out for a strong recovery in automotive electronics in the fiscal second half.
Recent Earnings Movers
Ceconomy AG gained 0.6% to €3.17 after the German electronics retailer posted revenue growth for the fiscal year 2024.
Sales increased to €22.44 billion from €22.24 billion, net income swung to a profit of €77 million from a loss of €37 million, and earnings per diluted share rose to 16 cents from a loss of 8 cents a year ago.
Same-store sales growth slowed to an increase of 4.1%, compared to 4.3% increase a year earlier.
Chinese e-commerce giant JD.com has signaled an interest to acquire the specialty electronics retailer Ceconomy.
Vinci SA dropped 1.5% to €108.20 despite the French concessions and construction company reporting revenue growth in fiscal year 2024.
Revenue increased to €71.62 billion from €68.39 billion, net income climbed to €5.27 billion from €5.10 billion, and earnings per diluted share rose to €8.43 from €8.18 a year ago.
The company proposed a dividend of €3.70 per share, higher than €3.45 in 2023, and payable on April 24.
In addition, Vinci proposed to purchase shares up to a maximum of 10% of the number of shares making up the company's share capital over a period of 18 months from April 9 to October 8.
GN Store Nord A/S dropped 2.9% to 139.90 krona after the Danish manufacturer of hearing aids, speakerphones, videobars and headsets said revenue declined in the fiscal year 2024.
Revenue decreased to DKK 17.98 billion from DKK 18.12 billion, profit jumped to DKK 1.06 billion from DKK 266 million, and earnings per diluted share rose to DKK 6.78 from DKK 1.64 a year ago.
Revenue in the fourth quarter declined to DKK 5.02 billion from DKK 5.07 billion a year earlier.
GN Store will not pay out dividends for 2024, and the company paused is stock repurchase program for now.
UniCredit SpA dropped 3.1% to 45.83 after Italy’s second-largest lender posted higher-than-expected fourth quarter earnings, but guided weak revenue growth for fiscal 2025.
The bank raised its cash dividend payout guidance to 50% of net profit in 2025, from 40% in 2024.
In fiscal 2024, revenue increased 4% to €24.2 billion from €23.8 billion, and net profit jumped 2% to €9.7 billion from €9.5 billion a year ago.
For fiscal 2025, the bank estimated revenue of above €23 billion, compared to €24.2 billion last year, reflecting compression of its business in Russia and “moderate decline” in expected net interest income.
In November, UniCredit issued a €1 billion floating rate senior preferred bond with 4 years maturity, callable after 3 years, targeted to institutional investors.
Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter.
Revenue declined to €17.19 billion from €19.57 billion, net income dropped to €1.13 billion from €2.98 billion, and earnings per diluted share fell to €9.24 from €24.37 a year ago.
Sales in the Gucci segment decreased 24% to €1.92 billion from €2.53 billion a year earlier, in Yves Saint Laurent they were down 8% to €770 million from €835 million, while in Bottega Veneta sales increased 12% to €480 million from €431 million.
Revenue in the company’s Eyewear and Corporate segment jumped 10% to €434 million from €366 million a year ago.
During the year, Kering acquired real estate assets in New York and Milan as the key desirable locations for its houses.
Ams-OSRAM AG surged 17.6% to CHF 8.01 despite the Austrian semiconductor manufacturer reporting weak results for the fourth quarter ending in December.
Revenue declined to €882 million from €908 million, net loss shrank to €58 million from €82 million, and loss per diluted share declined to 59 cents from a loss of €1.79 a year ago.
For the first quarter of 2025, the company estimated revenue between €750 million and €850 million, in line with further savings efforts.
BP Plc. dropped 0.8% to 461.65 pence after the British energy company reported a sharp drop in fourth-quarter profit on weaker refining margins.
Revenue declined to $45.75 billion from $52.14 billion, net income swung to a loss $1.62 billion from to a profit of $436 million, and loss per diluted share came in at $12.33 from a profit of 13 cents a year ago.
The company launched a $1.75 billion share buyback in the fourth quarter.
During the quarter, BP paid dividends per ADS of 48 cents, higher than 43.62 cents a year earlier.
For fiscal year 2025, the company expects $3 billion in divestment and other proceeds, and the Gulf of Mexico settlement payments of around $1.2 billion pre-tax, including $1.1 billion pre-tax to be paid during the second quarter.
- Bridgette Randall
- 11 Feb, 2025
- London
Stock market indexes in Europe hovered near recent highs as investors focused on the latest batch of positive earnings.
Benchmark indexes in Frankfurt, Paris, Milan, and London wavered around the flatline, and more than 50 companies reported earnings in the currency union.
Investors reacted to the latest quarterly results from BP plc, Kering SA, UniCredit SpA, and ams-OSRAM.
Thyssenkrupp and Salzgitter dropped 1% after the U.S. announced a 25% tariff on all imports of steel and aluminum products beginning March 4.
The latest round of tariffs appears to placate the most extreme wing of the Republican Party, and the proposed import tax will stoke inflation and provide another reason for the Federal Reserve to hold higher interest rates for longer.
France's Jobless Rate Edged Lower In Fourth Quarter
Closer to home, France's jobless rate unexpectedly dropped marginally in the fourth quarter.
The unemployment rate decreased to 7.3% from 7.4% in the third quarter, according to the latest data released by INSEE, France's statistical office.
The number of unemployed people declined by 63,000 from the previous quarter to 2.3 million.
The unemployment rate in the age group between 15 and 24, the so-called youth jobless rate, edged down by 0.8 percentage point to 19%.
The jobless rate in the age group between 25 and 49 eased by 0.1 percentage point to 6.5%, and for those above the age of 50 and over, it increased by 0.1 percentage point to 4.8%.
Europe Indexes and Yields
The DAX index increased by 0.10% to 21,934.27, the CAC-40 index edged lower 0.05% to 8,001.99; and the FTSE 100 index advanced by 0.05% to 8,772.53.
The yield on 10-year German bonds inched higher to 2.41%, French bonds increased to 3.14%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.51%.
The euro increased to $1.03; the British pound was lower at $1.24; and the U.S. dollar was higher and traded at 91.29 Swiss cents.
Brent crude increased $1.08 to $76.95 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Novartis AG was nearly unchanged at CHF 96.94, and the Swiss pharmaceutical company agreed to acquire Anthos Therapeutics for $3.1 billion.
BP plc decreased 0.6% to 462.30 pence, and the British oil company reported a steep decline in profit in the fourth quarter.
UniCredit SpA decreased 2.8% to €45.93, and the Italian bank estimated a moderate decline in net interest margin in 2025 and reported better-than-expected 2024 earnings.
Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter.
Entain PLC plunged 10.5% to 667.32 pence after the UK-based online gambling company's chief executive Gavin Issacs stepped down immediately after six months in the office.
ams-OSRAM AG jumped 16.8% to CHF 7.95, and the Austrian semiconductor company posted weak sales in the first quarter but held out for a strong recovery in automotive electronics in the fiscal second half.
- Bridgette Randall
- 11 Feb, 2025
- London
Stock market indexes in Europe hovered near recent highs as investors focused on the latest batch of positive earnings.
Benchmark indexes in Frankfurt, Paris, Milan, and London wavered around the flatline, and more than 50 companies reported earnings in the currency union.
Investors reacted to the latest quarterly results from BP plc, Kering SA, UniCredit SpA, and ams-OSRAM.
Thyssenkrupp and Salzgitter dropped 1% after the U.S. announced a 25% tariff on all imports of steel and aluminum products beginning March 4.
The latest round of tariffs appears to placate the most extreme wing of the Republican Party, and the proposed import tax will stoke inflation and provide another reason for the Federal Reserve to hold higher interest rates for longer.
France's Jobless Rate Edged Lower In Fourth Quarter
Closer to home, France's jobless rate unexpectedly dropped marginally in the fourth quarter.
The unemployment rate decreased to 7.3% from 7.4% in the third quarter, according to the latest data released by INSEE, France's statistical office.
The number of unemployed people declined by 63,000 from the previous quarter to 2.3 million.
The unemployment rate in the age group between 15 and 24, the so-called youth jobless rate, edged down by 0.8 percentage point to 19%.
The jobless rate in the age group between 25 and 49 eased by 0.1 percentage point to 6.5%, and for those above the age of 50 and over, it increased by 0.1 percentage point to 4.8%.
Europe Stock Movers
Novartis AG was nearly unchanged at CHF 96.94, and the Swiss pharmaceutical company agreed to acquire Anthos Therapeutics for $3.1 billion.
BP plc decreased 0.6% to 462.30 pence, and the British oil company reported a steep decline in profit in the fourth quarter.
UniCredit SpA decreased 2.8% to €45.93, and the Italian bank estimated a moderate decline in net interest margin in 2025 and reported better-than-expected 2024 earnings.
Kering SA increased 1.1% to €246.90 after the Paris-based luxury group posted better-than-expected revenue in the fourth quarter.
Entain PLC plunged 10.5% to 667.32 pence after the UK-based online gambling company's chief executive Gavin Issacs stepped down immediately after six months in the office.
ams-OSRAM AG jumped 16.8% to CHF 7.95, and the Austrian semiconductor company posted weak sales in the first quarter but held out for a strong recovery in automotive electronics in the fiscal second half.
- Li Chen
- 11 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong dropped, and investors reviewed the latest round of new tariffs announced by the U.S.
The Hang Seng index and CSI index dropped about 0.6% in choppy trading after the U.S. announced 25% tariffs on steel and aluminum imports with "no exemptions or exceptions."
The U.S. imports most of its steel products from Canada, Brazil, China, and South Korea.
The steel tariffs are slated to be imposed from March 4, and they will be in addition to 10% tariffs on all Chinese imports.
The Trump administration is looking to raise additional federal government revenue, and the tax on imports is the new source that the administration has identified.
The tariffs on imports, which are indirect taxes and paid by all Americans, provide a new source of government revenue as the Trump administration prepares to pass a tax cut for wealthy donors who bankrolled his presidential election.
Chinese manufacturers have accelerated their plans to diversify their manufacturing base away from China and stepped up their efforts to increase shipments to other countries and regions in the world.
Over the last six years, Chinese companies have increased their manufacturing presence in Mexico, Vietnam, the ASEAN region, Hungary, and Brazil.
The offshore Chinese yuan hovered near 7.30 against the U.S. dollar as the U.S. launched a new round of tariffs targeting products shipped by China, Canada, Mexico, and Brazil.
China Stock Movers
The Hang Seng index declined 0.6% to 21,404.70, and the CSI 300 index dropped 0.5% to 3,883.22.
Electric vehicle makers traded down on the worries that the next set of tariffs on Chinese imports will include advanced electronic products.
Li Auto declined 5% to HK $100.20, BYD dropped 0.2% to HK $329.60, Xpeng plunged 9% to HK $62.05, and Geely Automobile Holding declined 10.5% to HK $15.82.
Separately, BYD said it plans to install autopilot systems on almost all of its models as early as this year.
Zijin Mining Group advanced 1.7% to HK $16.42 after the international spot price of gold advanced and traded at a new record high of $2,910.85.
- Li Chen
- 11 Feb, 2025
- Hong Kong
Stock market indexes in China and Hong Kong dropped, and investors reviewed the latest round of new tariffs announced by the U.S.
The Hang Seng index and CSI index dropped about 0.6% in choppy trading after the U.S. announced 25% tariffs on steel and aluminum imports with "no exemptions or exceptions."
The U.S. imports most of its steel products from Canada, Brazil, China, and South Korea.
The steel tariffs are slated to be imposed from March 4, and they will be in addition to 10% tariffs on all Chinese imports.
The Trump administration is looking to raise additional federal government revenue, and the tax on imports is the new source that the administration has identified.
The tariffs on imports, which are indirect taxes and paid by all Americans, provide a new source of government revenue as the Trump administration prepares to pass a tax cut for wealthy donors who bankrolled his presidential election.
Chinese manufacturers have accelerated their plans to diversify their manufacturing base away from China and stepped up their efforts to increase shipments to other countries and regions in the world.
Over the last six years, Chinese companies have increased their manufacturing presence in Mexico, Vietnam, the ASEAN region, Hungary, and Brazil.
The offshore Chinese yuan hovered near 7.30 against the U.S. dollar as the U.S. launched a new round of tariffs targeting products shipped by China, Canada, Mexico, and Brazil.
China Stock Movers
The Hang Seng index declined 0.6% to 21,404.70, and the CSI 300 index dropped 0.5% to 3,883.22.
Electric vehicle makers traded down on the worries that the next set of tariffs on Chinese imports will include advanced electronic products.
Li Auto declined 5% to HK $100.20, BYD dropped 0.2% to HK $329.60, Xpeng plunged 9% to HK $62.05, and Geely Automobile Holding declined 10.5% to HK $15.82.
Separately, BYD said it plans to install autopilot systems on almost all of its models as early as this year.
Zijin Mining Group advanced 1.7% to HK $16.42 after the international spot price of gold advanced and traded at a new record high of $2,910.85.
- Arun Goswami
- 11 Feb, 2025
- Mumbai
Stock market indexes in Mumbai extended losses amid worries of growing trade tensions after the U.S. launched a new round of tariffs roiling world financial markets.
The Sensex index declined by 0.5% to 77,025.32, and the Nifty index decreased by 0.4% to 23,298.20.
On the Mumbai stock exchange, 36 stocks traded at their 52-week highs, and 293 stocks traded at their 52-week lows.
Eicher Motors Ltd. decreased 5% to ₹5,063.20 despite the two- and four-wheeler maker reporting a 16% increase in net income in the December quarter.
Consolidated revenue increased to ₹5,208.2 crore from ₹4,303.8 crore, after-tax profit rose to ₹1,056.2 crore from ₹913.7 crore, and diluted earnings per share jumped to ₹38.45 from ₹33.31 a year ago.
Apollo Hospitals Enterprise Ltd. dropped 3.6% to ₹6,522.85 despite the healthcare services provider reporting a 15% increase in net income from a year ago in the December quarter revenue.
Consolidated revenue increased to ₹55,907 crore from ₹48,784 crore, net income jumped to ₹3,794 crore from ₹2,544 crore, and diluted earnings per share rose to ₹25.89 from ₹17.06 a year ago.
Bata India Ltd. increased 0.6% to ₹1,347.50, and the footwear maker reported a rise in revenue and net income in the December quarter.
Consolidated revenue increased to ₹928.7 crore from ₹914.5 crore, after-tax profit rose to ₹58.6 crore from ₹52 crore, and diluted earnings per share advanced to ₹4.57 from ₹4.51 a year ago.
Varun Beverages Ltd. plunged 2.7% to ₹533.65 despite the soft drink maker reporting a strong rise in net income and revenue in the December quarter.
Consolidated revenue increased to ₹3,862 crore from ₹2,740 crore, net income jumped to ₹195.6 crore from ₹143.7 crore, and diluted earnings per share rose to 56 paise from 41 paise a year ago.
Honda India Power Products Ltd. fell 3.5% to ₹2,301.65, and the company reported a 33% drop in profit from a year ago in the December quarter.
Consolidated revenue decreased to ₹214.6 crore from ₹273.4 crore, after-tax profit dropped to ₹19.1 crore from ₹28.3 crore, and diluted earnings per share fell to ₹18.82 from ₹27.92 a year ago.
FSN E-Commerce Ventures Ltd. rose 1.4% to ₹172 after the cosmetic retailer reported a 51% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹2,272.7 crore from ₹1,796.4 crore, net income jumped to ₹26.4 crore from ₹17.5 crore, and diluted earnings per share rose to 9 paisa from 6 paisa a year ago.
Indigo Paints Ltd. decreased 3.7% to ₹1,196.30 after the paint maker reported a decline in quarterly revenue and earnings.
Consolidated revenue declined to ₹345.8 crore from ₹356.8 crore, after-tax profit dropped to ₹35.8 crore from ₹37.5 crore, and diluted earnings per share fell to ₹7.54 from ₹7.81 a year ago.
Bharti Hexacom declined 3.6% to ₹1,318.70 despite the telecommunications service provider company reporting a 23% surge from a year ago in the December quarter revenue.
Consolidated revenue advanced to ₹2,295.7 crore from ₹1,862.9 crore, net income jumped to ₹260.9 crore from ₹212.7 crore, and diluted earnings per share rose to ₹5.22 from ₹4.26 a year ago.
- Arun Goswami
- 11 Feb, 2025
- Mumbai
Stock market indexes in Mumbai extended losses amid worries of growing trade tensions after the U.S. launched a new round of tariffs roiling world financial markets.
The Sensex index declined by 0.5% to 77,025.32, and the Nifty index decreased by 0.4% to 23,298.20.
On the Mumbai stock exchange, 36 stocks traded at their 52-week highs, and 293 stocks traded at their 52-week lows.
Eicher Motors Ltd. decreased 5% to ₹5,063.20 despite the two- and four-wheeler maker reporting a 16% increase in net income in the December quarter.
Consolidated revenue increased to ₹5,208.2 crore from ₹4,303.8 crore, after-tax profit rose to ₹1,056.2 crore from ₹913.7 crore, and diluted earnings per share jumped to ₹38.45 from ₹33.31 a year ago.
Apollo Hospitals Enterprise Ltd. dropped 3.6% to ₹6,522.85 despite the healthcare services provider reporting a 15% increase in net income from a year ago in the December quarter revenue.
Consolidated revenue increased to ₹55,907 crore from ₹48,784 crore, net income jumped to ₹3,794 crore from ₹2,544 crore, and diluted earnings per share rose to ₹25.89 from ₹17.06 a year ago.
Bata India Ltd. increased 0.6% to ₹1,347.50, and the footwear maker reported a rise in revenue and net income in the December quarter.
Consolidated revenue increased to ₹928.7 crore from ₹914.5 crore, after-tax profit rose to ₹58.6 crore from ₹52 crore, and diluted earnings per share advanced to ₹4.57 from ₹4.51 a year ago.
Varun Beverages Ltd. plunged 2.7% to ₹533.65 despite the soft drink maker reporting a strong rise in net income and revenue in the December quarter.
Consolidated revenue increased to ₹3,862 crore from ₹2,740 crore, net income jumped to ₹195.6 crore from ₹143.7 crore, and diluted earnings per share rose to 56 paise from 41 paise a year ago.
Honda India Power Products Ltd. fell 3.5% to ₹2,301.65, and the company reported a 33% drop in profit from a year ago in the December quarter.
Consolidated revenue decreased to ₹214.6 crore from ₹273.4 crore, after-tax profit dropped to ₹19.1 crore from ₹28.3 crore, and diluted earnings per share fell to ₹18.82 from ₹27.92 a year ago.
FSN E-Commerce Ventures Ltd. rose 1.4% to ₹172 after the cosmetic retailer reported a 51% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹2,272.7 crore from ₹1,796.4 crore, net income jumped to ₹26.4 crore from ₹17.5 crore, and diluted earnings per share rose to 9 paisa from 6 paisa a year ago.
Indigo Paints Ltd. decreased 3.7% to ₹1,196.30 after the paint maker reported a decline in quarterly revenue and earnings.
Consolidated revenue declined to ₹345.8 crore from ₹356.8 crore, after-tax profit dropped to ₹35.8 crore from ₹37.5 crore, and diluted earnings per share fell to ₹7.54 from ₹7.81 a year ago.
Bharti Hexacom declined 3.6% to ₹1,318.70 despite the telecommunications service provider company reporting a 23% surge from a year ago in the December quarter revenue.
Consolidated revenue advanced to ₹2,295.7 crore from ₹1,862.9 crore, net income jumped to ₹260.9 crore from ₹212.7 crore, and diluted earnings per share rose to ₹5.22 from ₹4.26 a year ago.
- Alexander Garcia
- 10 Feb, 2025
- Miami
Wall Street indexes overcame morning weakness and extended gains of previous weeks in a row as investors remained focused on corporate results.
Investors turned cautious amid waning confidence in the White House and faltering enthusiasm surrounding artificial intelligence.
The S&P 500 index increased 0.5%, and the Nasdaq Composite advanced 0.9% amid another round of threats issued by the White House targeting steel and aluminum products.
Tariffs are nothing but import taxes paid by the U.S. consumers, which ultimately drives inflation higher and forces the Federal Reserve to keep higher rates for longer.
Global investors and Wall Street have started overlooking Trump's tariff threats, which are designed for domestic political consumption, as they do little to thwart imports and support domestic industries and businesses.
Despite Trump's tariffs on imports from China during his first administration, shipments from the world's second largest economy increased by more than 50%.
The current round of tariffs on Chinese goods is just as likely to fail in slowing down imports, and Chinese manufacturers are diversifying manufacturing bases.
Moreover, U.S. consumers and businesses have few alternatives in many industries and for a range of products, as most of manufacturing has shifted to Asia following the free trade policy pursued by both political parties.
This week investors will remain glued to the next batch of corporate results and two inflation reports in the U.S.
Coca-Cola, McDonald’s, Cisco Systems, Applied Materials, and Deere & Company are some of the leading companies scheduled to release their earnings.
On the economic front, investors are awaiting updates on retail sales, industrial output, and inflation.
Global Markets Previous Week
Global financial markets retained an upward bias following strong corporate earnings, accommodative central banks, and upbeat market sentiment.
European markets advanced for the fifth consecutive week after the Bank of England lowered rates as expected, and German exports were ahead of market expectations.
Markets in China soared in the hopes of an earnings rebound driven by affordable access to artificial intelligence.
The S&P 500 index and the Nasdaq Composite extended the market rally to the fourth consecutive week as investors' confidence in the Trump administration ebbed amid flip-flops on tariffs on Mexico, Canada, and China.
Last week, investors reviewed the latest updates on nonfarm payrolls, job openings, and record trade deficits in 2024.
The job market is expanding at a slower pace, but market conditions remain solid.
The U.S. economy added 143,000 net new jobs in January, far less than the upwardly revised 307,000 in December.
The jobless rate edged down to 4.0%, and wages inched up to 0.5% from the previous month and increased the annual growth to 4.1%.
The U.S. economy added an average of 166,000 jobs a month, totaling 1.99 million in 2024, slower than the average monthly increase of 225,000, totaling 2.7 million in 2023.
Despite the slowdown in job growth, policymakers are likely to focus on the wage increase, which is far higher and inconsistent with the Fed's target rate of 2%.
U.S. Indexes and Yields
The S&P 500 index increased 0.5% to 6,054.06, the Nasdaq Composite edged up 0.93% to 19,718.97, and the Russell 2000 index advanced 0.4% to 2,287.77.
The yield on 2-year Treasury notes edged lower to 4.28%, 10-year Treasury notes decreased to 4.49%, and 30-year Treasury bonds advanced to 4.70%.
WTI crude oil increased $0.88 to $71.88 a barrel, and natural gas prices edged higher by $0.10 to $3.41 a thermal unit.
Gold increased by $38.82 to 2,989.18 an ounce, and silver edged up by $0.20 to $32.01.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.17 to 108.27 and traded at a two-year high.
European Markets Indexes Trade Higher Amid Rate Cut Optimism
European markets edged higher and extended a five-week rally amid rate path optimism and a positive earnings outlook.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced after the European Central Bank official supported the case for three additional rate cuts in 2025.
The European Central Bank's Governing Council member Boris Vujcic said that expectations for three more rate reductions this year are "reasonable," supporting the market view of rate cuts totaling at least 125 basis points.
Benchmark indexes in Germany and the UK are hovering near record highs despite the weakening macroeconomic backdrop and rising threats of trade barriers from the world's largest economy.
Investors are overlooking the weakening of Germany's automotive exports to China and a sharp decline in industrial output, driven by falling demand for intermediate goods and industrial machinery.
In the week of few economic data releases, investors reviewed the latest inflation update from Norway.
Consumer price inflation picked up to 2.3% in January from the four-year low of 2.2% in December, Statistics Norway reported Monday.
Meanwhile, the so-called core inflation, which adjusts for tax changes and excludes volatile energy prices, accelerated to 2.8% from 2.7% in the previous month and stayed above the central bank's target rate of 2.0%.
Norway's consumer price inflation has been declining after peaking at 7.5% in October 2022 and dropping to a low of 2.2% in December 2024.
Europe Indexes and Yields
The DAX index increased by 0.05% to 21,797.35, the CAC-40 index advanced 0.06% to 7,977.86, and the FTSE 100 index rose by 0.48% to 8,742.03.
The yield on 10-year German bonds inched lower to 2.38%, French bonds increased to 3.09%, the UK gilts moved down to 4.47%, and Italian bonds edged lower to 3.46%.
The euro increased to $1.03; the British pound was higher at $1.24; and the U.S. dollar was lower and traded at 90.99 Swiss cents.
Brent crude increased $0.86 to $75.51 a barrel, and the Dutch TTF natural gas advanced €0.17 to €49.91 per MWh.
Europe Stock Movers
Nokia Oyj jumped 2.2% to €4.76 after the company appointed a new chief executive officer.
BP plc jumped 6.8% to 463.0 pence after the activist investor Elliot Investment took a stake in the company.
GTT Group decreased 4.8% to €137.80 after the naval engineering company announced the resignation of its chief executive, Jean-Baptiste Choimet.
Tech Rally Powers Rise In China and Hong Kong Indexes
Stock market indexes in China and Hong Kong extended gains of the previous week, and investors reviewed the latest inflation reports.
The Hang Seng index advanced 1.5%, and the CSI 300 index increased up to 0.3% following the continued surge in tech stocks in Hong Kong.
Market gains in China were muted after the U.S. threatened to impose an additional 25% tariff on steel and aluminum products, which could disrupt trade with Asian suppliers.
Inflation Reports Support Need for Additional Stimulus
On the economic front, investors reviewed the latest updates on inflation amid louder calls for clarity on the previously announced fiscal stimulus.
China's consumer price inflation accelerated to 0.5% in January from 0.1% in December. The National Bureau of Statistics reported on Sunday.
Consumer inflation rose to the highest level since August, driven by the seasonal effects of the Lunar New Year.
Producer price inflation in January decreased for the 28th consecutive month, amid persistent demand weakness, according to a separate report by the statistical agency released on Sunday.
Producer price inflation decreased 2.8%, matching the rate in the previous month, and remained at the softest pace since August, as policymakers announced a raft of stimulus measures.
China Indexes and Stocks
The Hang Seng index increased 1.6% to 21,468.93, and the mainland-focused CSI 300 index advanced 0.2% to 3,901.06.
Technology stocks advanced in Monday's trading in the hopes that the affordable advances in artificial intelligence may provide a boost to earnings growth.
Alibaba Group advanced 5.5% to HK $105.50, JD.com Inc increased 2.8% to HK $161.50, Meituan gained 5.6% to $162.70, and Kuaishou Technology advanced 2.9% to HK $47.65.
- Alexander Garcia
- 10 Feb, 2025
- Miami
Wall Street indexes overcame morning weakness and extended gains of previous weeks in a row as investors remained focused on corporate results.
Investors turned cautious amid waning confidence in the White House and faltering enthusiasm surrounding artificial intelligence.
The S&P 500 index increased 0.5%, and the Nasdaq Composite advanced 0.9% amid another round of threats issued by the White House targeting steel and aluminum products.
Tariffs are nothing but import taxes paid by the U.S. consumers, which ultimately drives inflation higher and forces the Federal Reserve to keep higher rates for longer.
Global investors and Wall Street have started overlooking Trump's tariff threats, which are designed for domestic political consumption, as they do little to thwart imports and support domestic industries and businesses.
Despite Trump's tariffs on imports from China during his first administration, shipments from the world's second largest economy increased by more than 50%.
The current round of tariffs on Chinese goods is just as likely to fail in slowing down imports, and Chinese manufacturers are diversifying manufacturing bases.
Moreover, U.S. consumers and businesses have few alternatives in many industries and for a range of products, as most of manufacturing has shifted to Asia following the free trade policy pursued by both political parties.
This week investors will remain glued to the next batch of corporate results and two inflation reports in the U.S.
Coca-Cola, McDonald’s, Cisco Systems, Applied Materials, and Deere & Company are some of the leading companies scheduled to release their earnings.
On the economic front, investors are awaiting updates on retail sales, industrial output, and inflation.
Global Markets Previous Week
Global financial markets retained an upward bias following strong corporate earnings, accommodative central banks, and upbeat market sentiment.
European markets advanced for the fifth consecutive week after the Bank of England lowered rates as expected, and German exports were ahead of market expectations.
Markets in China soared in the hopes of an earnings rebound driven by affordable access to artificial intelligence.
The S&P 500 index and the Nasdaq Composite extended the market rally to the fourth consecutive week as investors' confidence in the Trump administration ebbed amid flip-flops on tariffs on Mexico, Canada, and China.
Last week, investors reviewed the latest updates on nonfarm payrolls, job openings, and record trade deficits in 2024.
The job market is expanding at a slower pace, but market conditions remain solid.
The U.S. economy added 143,000 net new jobs in January, far less than the upwardly revised 307,000 in December.
The jobless rate edged down to 4.0%, and wages inched up to 0.5% from the previous month and increased the annual growth to 4.1%.
The U.S. economy added an average of 166,000 jobs a month, totaling 1.99 million in 2024, slower than the average monthly increase of 225,000, totaling 2.7 million in 2023.
Despite the slowdown in job growth, policymakers are likely to focus on the wage increase, which is far higher and inconsistent with the Fed's target rate of 2%.
U.S. Indexes and Yields
The S&P 500 index increased 0.5% to 6,054.06, the Nasdaq Composite edged up 0.93% to 19,718.97, and the Russell 2000 index advanced 0.4% to 2,287.77.
The yield on 2-year Treasury notes edged lower to 4.28%, 10-year Treasury notes decreased to 4.49%, and 30-year Treasury bonds advanced to 4.70%.
WTI crude oil increased $0.88 to $71.88 a barrel, and natural gas prices edged higher by $0.10 to $3.41 a thermal unit.
Gold increased by $38.82 to 2,989.18 an ounce, and silver edged up by $0.20 to $32.01.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.17 to 108.27 and traded at a two-year high.
European Markets Indexes Trade Higher Amid Rate Cut Optimism
European markets edged higher and extended a five-week rally amid rate path optimism and a positive earnings outlook.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced after the European Central Bank official supported the case for three additional rate cuts in 2025.
The European Central Bank's Governing Council member Boris Vujcic said that expectations for three more rate reductions this year are "reasonable," supporting the market view of rate cuts totaling at least 125 basis points.
Benchmark indexes in Germany and the UK are hovering near record highs despite the weakening macroeconomic backdrop and rising threats of trade barriers from the world's largest economy.
Investors are overlooking the weakening of Germany's automotive exports to China and a sharp decline in industrial output, driven by falling demand for intermediate goods and industrial machinery.
In the week of few economic data releases, investors reviewed the latest inflation update from Norway.
Consumer price inflation picked up to 2.3% in January from the four-year low of 2.2% in December, Statistics Norway reported Monday.
Meanwhile, the so-called core inflation, which adjusts for tax changes and excludes volatile energy prices, accelerated to 2.8% from 2.7% in the previous month and stayed above the central bank's target rate of 2.0%.
Norway's consumer price inflation has been declining after peaking at 7.5% in October 2022 and dropping to a low of 2.2% in December 2024.
Europe Indexes and Yields
The DAX index increased by 0.05% to 21,797.35, the CAC-40 index advanced 0.06% to 7,977.86, and the FTSE 100 index rose by 0.48% to 8,742.03.
The yield on 10-year German bonds inched lower to 2.38%, French bonds increased to 3.09%, the UK gilts moved down to 4.47%, and Italian bonds edged lower to 3.46%.
The euro increased to $1.03; the British pound was higher at $1.24; and the U.S. dollar was lower and traded at 90.99 Swiss cents.
Brent crude increased $0.86 to $75.51 a barrel, and the Dutch TTF natural gas advanced €0.17 to €49.91 per MWh.
Europe Stock Movers
Nokia Oyj jumped 2.2% to €4.76 after the company appointed a new chief executive officer.
BP plc jumped 6.8% to 463.0 pence after the activist investor Elliot Investment took a stake in the company.
GTT Group decreased 4.8% to €137.80 after the naval engineering company announced the resignation of its chief executive, Jean-Baptiste Choimet.
Tech Rally Powers Rise In China and Hong Kong Indexes
Stock market indexes in China and Hong Kong extended gains of the previous week, and investors reviewed the latest inflation reports.
The Hang Seng index advanced 1.5%, and the CSI 300 index increased up to 0.3% following the continued surge in tech stocks in Hong Kong.
Market gains in China were muted after the U.S. threatened to impose an additional 25% tariff on steel and aluminum products, which could disrupt trade with Asian suppliers.
Inflation Reports Support Need for Additional Stimulus
On the economic front, investors reviewed the latest updates on inflation amid louder calls for clarity on the previously announced fiscal stimulus.
China's consumer price inflation accelerated to 0.5% in January from 0.1% in December. The National Bureau of Statistics reported on Sunday.
Consumer inflation rose to the highest level since August, driven by the seasonal effects of the Lunar New Year.
Producer price inflation in January decreased for the 28th consecutive month, amid persistent demand weakness, according to a separate report by the statistical agency released on Sunday.
Producer price inflation decreased 2.8%, matching the rate in the previous month, and remained at the softest pace since August, as policymakers announced a raft of stimulus measures.
China Indexes and Stocks
The Hang Seng index increased 1.6% to 21,468.93, and the mainland-focused CSI 300 index advanced 0.2% to 3,901.06.
Technology stocks advanced in Monday's trading in the hopes that the affordable advances in artificial intelligence may provide a boost to earnings growth.
Alibaba Group advanced 5.5% to HK $105.50, JD.com Inc increased 2.8% to HK $161.50, Meituan gained 5.6% to $162.70, and Kuaishou Technology advanced 2.9% to HK $47.65.
- Scott Peters
- 10 Feb, 2025
- New York City
McDonald’s Corp. surged 2.8% to $302.46 despite the fast food chain reporting a 1.4% drop in comparable store sales in the U.S. during the fourth quarter ending in December.
Revenue declined to $6.39 billion from $6.41 billion, net income dropped to $2.02 billion from $2.04 billion a year ago, and earnings per diluted share were flat at $2.80.
The fast food operator said traffic was slightly higher than usual at U.S. locations, but high prices kept consumers spending less.
In the fourth quarter, global comparable sales increased 0.4%, same-store sales at U.S. locations declined 1.4%, and international markets increased 0.1%.
The company’s board proposed a quarterly cash dividend of $1.77 per share, payable on March 17 to holders of record on March 3.
In the first half of 2024, McDonald’s introduced a $5 value meal and extended the bargain offering until December.
However, the company had to go through and settle an FDA investigation into its raw yellow onions, which caused E. coli among customers.
ON Semiconductor Corp. eased 0.7% to $50.91 after the Scottsdale, Arizona-based company reported weaker-than-expected fourth quarter 2023 results.
Revenue declined to $2.02 billion from $2.10 billion, net income dropped to $563.4 million from $604.3 million, and earnings per diluted share fell to $1.28 from $1.35 a year ago.
For the first quarter of fiscal 2024, the company estimated revenue between $1.8 billion and $1.9 billion and earnings per share between 94 cents and $1.06.
Last year, the company’s board approved a share repurchase program with authorization to repurchase up to $3 billion worth of shares through December 31.
Monday.com Ltd. surged 23.1% to $318.03 after the Tel Aviv, Israel-based cloud platform provider reported a 32% revenue growth in the fourth quarter ending in December.
Revenue increased to $267.98 million from $202.57 million, net income jumped to $23.0 million from $12.34 million, and earnings per diluted share rose to 43 cents from 24 cents a year ago.
During the quarter, WCM Investment Management LLC lessened its holdings in Monday.com by 3.1%, and Entropy Technologies LP increased its stake by 521.0%.
Hedge funds and other institutional investors own 73.70% of the company's stock.
Rockwell Automation Inc gained 7.7% to $289.11 after the industrial automation company said orders increased by 10% in the first quarter of 2025 ending in December.
Revenue declined to $1.88 billion from $2.05 billion, net income fell to $178 million from $213 million, and earnings per diluted share dropped to $1.61 from $1.86 a year ago.
For fiscal 2025, the company estimated sales of $8.1 billion and earnings per diluted share between $7.65 and $8.85.