- 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.
- Barry Adams
- 10 Feb, 2025
- New York City
Wall Street investors turned cautious amid waning confidence in the White House and faltering enthusiasm surrounding artificial intelligence.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite declined 0.2% 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 higher inflation 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 0.38% to 6,048.94, the Nasdaq Composite edged up 0.81% to 19,680.57, and the Russell 2000 index was down 0.74% to 2,290.03.
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 $42.32 to 2,901.17 an ounce, and silver edged up by $0.32 to $32.11.
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.
- Barry Adams
- 10 Feb, 2025
- New York City
Wall Street investors turned cautious amid waning confidence in the White House and faltering enthusiasm surrounding artificial intelligence.
The S&P 500 index decreased 0.1%, and the Nasdaq Composite declined 0.2% 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 higher inflation 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%.
- Inga Muller
- 10 Feb, 2025
- Frankfurt
European markets retained an upward bias amid rate cut optimism and positive earnings outlook.
Norway's consumer price accelerated in January, and core inflation stayed above the central bank's target rate.
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%.
Europe Stock Movers
Nokia Oyj jumped 2.2% to €4.76 after the company appointed a new chief executive officer, Justin Hoard, former head of Intel's AI and data center division.
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.
Recent Earnings Movers
Iveco Group NV surged 22% to €14.11, and the Italian truck and bus maker said it is considering spinning off its defense business.
In the fourth quarter of 2024, net revenue declined 4.4% to €4.56 billion from €4.78 billion, net income swung to a profit of €91 million from a loss of €20 million, and earnings per diluted share jumped to 34 cents from a loss of 10 cents a year ago.
Truck sales fell 4.4% to €2.8 billion from €2.9 billion, powertrain sales declined 19.2% to €855 million from €1.06 billion, while bus sales increased 11.4% to €988 million from €887 million a year ago.
Revenue in the company’s defense segment dropped 8.6% to €371 million from €406 million in the same quarter a year earlier.
Iveco proposed an annual cash dividend of 33 euro cents per share, payable on April 24 to holders on record as of April 23, and totaling €90 million.
The company also intends to repurchase up to 10 million shares for €130 million over the eighteen months starting April 16, and the company proposed to replace the current authorization program expiring in October.
Vontobel Holding AG dropped 0.5% to CHF 65.10 after the Swiss investment management company reported steady growth in profitability for fiscal 2024.
Operating income jumped 9% to CHF 1.42 billion from CHF 1.30 billion, with growth in both private and institutional clients, and profit before tax surged 32% to CHF 354 million from CHF 262.7 million a year ago.
Return on equity increased to 12.3% from 10.5%, net profit jumped 24% to CHF 266 million from CHF 214.7 million, and basic earnings per share rose 23% to CHF 4.76 from CHF 3.86 a year earlier.
The cost-to-income ratio improved to 74.7%, compared to 79.5% a year ago.
By the end of December, Vontobel held CHF 229 billion of assets under management, compared to CHF 206.8 billion in fiscal year 2023.
The company left its dividend unchanged at CHF 3.0 per share.
Skanska AB gained 6% to 255.40 krona after the Swedish construction and development company reported strong growth in the fourth quarter ending in December.
Revenue increased to SEK 50.40 billion from SEK 46.16 billion, profit jumped to SEK 2.33 billion from SEK 1.66 billion, and earnings per diluted share rose to SEK 5.62 from SEK 4.00 a year ago.
Construction and residential development operations improved in the Nordics region, in Europe, and in the U.S.
Commercial property development slowed only in the U.S., where quarterly operating loss shrank to SEK 98 million from a loss of SEK 957 million a year ago.
SAAB AB plunged 6.2% to 213.40 krona despite the Swedish aviation company reporting sales growth in the fourth quarter ending in December, but order bookings declined.
Sales increased 29% to SEK 20.85 billion from SEK 16.12 billion, net income climbed 15% to SEK 1.44 billion from SEK 1.25 billion, and earnings per share jumped 17% to SEK 2.66 from SEK 2.27 a year ago.
For fiscal year 2025, the company estimated organic sales growth between 12% and 16% from a year earlier.
Order bookings in the Aeronautics segment decreased 74%, in Dynamics they were down 41%, in Kockums, the combat boats and submarines, they fell 75%, and in Surveillance they were flat, while in Combitech order bookings increased 20% in the quarter.
The fourth quarter included one large order, related to the second order for a Maneuver Short Range Air Defense to Lithuania of SEK 1.2 billion.
On April 11, 2024, the company announced to split its share 1-to-4 effective May 8, 2024.
After the share split, the total number of shares in Saab amounts to 543,383,388 of which 9,535,612 are A shares and 533,847,776 B shares, corresponding to 629,203,896 votes in total.
The company proposed a dividend of SEK 2.0 per share, or SEK 1.60 after the share split, totaling 1.07 billion krona payable on April 17 and October 10 to holders on record as April 14 and October 7, respectively.
- Inga Muller
- 10 Feb, 2025
- Frankfurt
European markets retained an upward bias amid rate cut optimism and positive earnings outlook.
Norway's consumer price accelerated in January, and core inflation stayed above the central bank's target rate.
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%.
Europe Stock Movers
Nokia Oyj jumped 2.2% to €4.76 after the company appointed a new chief executive officer, Justin Hoard, former head of Intel's AI and data center division.
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.
Recent Earnings Movers
Iveco Group NV surged 22% to €14.11, and the Italian truck and bus maker said it is considering spinning off its defense business.
In the fourth quarter of 2024, net revenue declined 4.4% to €4.56 billion from €4.78 billion, net income swung to a profit of €91 million from a loss of €20 million, and earnings per diluted share jumped to 34 cents from a loss of 10 cents a year ago.
Truck sales fell 4.4% to €2.8 billion from €2.9 billion, powertrain sales declined 19.2% to €855 million from €1.06 billion, while bus sales increased 11.4% to €988 million from €887 million a year ago.
Revenue in the company’s defense segment dropped 8.6% to €371 million from €406 million in the same quarter a year earlier.
Iveco proposed an annual cash dividend of 33 euro cents per share, payable on April 24 to holders on record as of April 23, and worth €90 million.
The company also intends to repurchase up to 10 million shares for €130 million over the eighteen months starting April 16, as the current authorization program expires in October.
Vontobel Holding AG dropped 0.5% to CHF 65.10 after the Swiss investment management company reported steady growth in profitability for fiscal 2024.
Operating income jumped 9% to CHF 1.42 billion from CHF 1.30 billion, with growth in both private and institutional clients, and profit before tax surged 32% to CHF 354 million from CHF 262.7 million a year ago.
Return on equity increased to 12.3% from 10.5%, net profit jumped 24% to CHF 266 million from CHF 214.7 million, and basic earnings per share rose 23% to CHF 4.76 from CHF 3.86 a year earlier.
The cost-to-income ratio improved to 74.7%, compared to 79.5% a year ago.
By the end of December, Vontobel held CHF 229 billion of assets under management, compared to CHF 206.8 billion in fiscal year 2023.
The company left its dividend unchanged at CHF 3.0 per share.
Skanska AB gained 6% to 255.40 krona after the Swedish construction and development company reported strong growth in the fourth quarter ending in December.
Revenue increased to SEK 50.40 billion from SEK 46.16 billion, profit jumped to SEK 2.33 billion from SEK 1.66 billion, and earnings per diluted share rose to SEK 5.62 from SEK 4.00 a year ago.
Construction and residential development operations improved in the Nordics region, in Europe, and in the U.S.
Commercial property development slowed only in the U.S., where quarterly operating loss shrank to SEK 98 million from a loss of SEK 957 million a year ago.
SAAB AB plunged 6.2% to 213.40 krona despite the Swedish aviation company reporting sales growth in the fourth quarter ending in December, but order bookings declined.
Sales increased 29% to SEK 20.85 billion from SEK 16.12 billion, net income climbed 15% to SEK 1.44 billion from SEK 1.25 billion, and earnings per share jumped 17% to SEK 2.66 from SEK 2.27 a year ago.
For fiscal year 2025, the company estimated organic sales growth between 12% and 16% from a year earlier.
Order bookings in the Aeronautics segment decreased 74%, in Dynamics they were down 41%, in Kockums they fell 75%, and in Surveillance they were flat, while in Combitech order bookings increased 20% in the quarter.
The fourth quarter included one large order, related to the second order for a Maneuver Short Range Air Defense to Lithuania of SEK 1.2 billion.
The company proposed a dividend of SEK 2.0 per share, or SEK 1.60 after the share split, payable on April 17 and October 10 to holders on record as April 14 and October 7, respectively.
- Bridgette Randall
- 10 Feb, 2025
- London
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.
- Bridgette Randall
- 10 Feb, 2025
- London
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.
- Li Chen
- 10 Feb, 2025
- Hong Kong
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.
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.
- Li Chen
- 10 Feb, 2025
- Hong Kong
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.
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.
- Arun Goswami
- 10 Feb, 2025
- Mumbai
Stock market indexes in Mumbai dropped, and the rupee drifted to a new record low after threats of U.S. tariffs weighed.
The Sensex index decreased by 0.7% to 77,330.94, and the Nifty index declined by 0.6% to 23,389.30.
On the Mumbai stock exchange, 172 stocks traded at their 52-week highs, and 264 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 87.90 against the U.S. dollar.
Oil India Ltd. decreased 3.7% to ₹409.35, and the crude oil and natural gas company reported a 44% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹9,391.2 crore from ₹11,493.9 crore, after-tax profit declined to ₹1,457.2 crore from ₹2,607.6 crore, and diluted earnings per share fell to ₹8.23 from ₹14.43 a year ago.
3M India Ltd. plunged 1.8% to ₹27,650 after the science and technology company reported a slight increase in revenue and a 16% decline in profit in the December quarter.
Consolidated revenue increased to ₹1,106.8 crore from ₹1,022.2 crore, net income fell to ₹113.7 crore from ₹135.2 crore, and diluted earnings per share decreased to ₹100.99 from ₹120.05 a year ago.
Ola Electric Mobility Ltd. fell 3.1% to ₹67.86 after the electric vehicle maker reported December quarter results.
Consolidated revenue decreased to ₹1,172 crore from ₹1,371 crore, net loss expanded to ₹564 crore from ₹376 crore, and diluted losses per share stretched to ₹1.28 from ₹1.02 a year ago.
Mazagon Dock Shipbuilders Ltd. increased 0.2% to ₹2,235.15 after the naval vessel builder reported a 30% surge in profit from a year ago in the December quarter revenue.
Consolidated revenue increased to ₹3,430.1 crore from ₹2,631.1 crore, net income advanced to ₹807.2 crore from ₹626.8 crore, and diluted earnings per share rose to ₹20.01 from ₹15.54 a year ago.
Fortis Healthcare Ltd. declined 1.1% to ₹642.65 despite the healthcare services provider reporting an 89% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹1,949.2 crore from ₹1,686.5 crore, after-tax profit rose to ₹254.3 crore from ₹134.3 crore, and diluted earnings per share jumped to ₹3.28 from ₹1.78 a year ago.
Delhivery Limited decreased 2.5% to ₹308.75 despite the logistics and supply chain company reporting a sharp increase in revenue and earnings.
Consolidated revenue increased to ₹2,477 crore from ₹2,325.2 crore, net income jumped to ₹25 crore from ₹11.7 crore, and diluted earnings per share rose to 33 paise from 15 paise a year ago.
Life Insurance Corporation of India advanced 0.6% to ₹820.95 after the company reported a slight increase in net income and a 5% decline in revenue in the December quarter.
Consolidated revenue decreased to ₹2,02,930.7 crore from ₹2,13,159.4 crore, after-tax profit rose to ₹11,008.7 crore from ₹9,469 crore, and diluted earnings per share jumped to ₹17.40 from ₹14.97 a year ago.
Edelweiss Financial Services Ltd. fell 0.6% to ₹111.30, and the financial services provider reported an increase in net income in the December quarter.
Consolidated revenue decreased to ₹1,996.6 crore from ₹2,414.6 crore, net income advanced to ₹155.18 crore from ₹152.2 crore, and diluted earnings per share rose to ₹1.68 from ₹1.39 a year ago.
- Arun Goswami
- 10 Feb, 2025
- Mumbai
Stock market indexes in Mumbai dropped, and the rupee drifted to a new record low after threats of U.S. tariffs weighed.
The Sensex index decreased by 0.7% to 77,330.94, and the Nifty index declined by 0.6% to 23,389.30.
On the Mumbai stock exchange, 172 stocks traded at their 52-week highs, and 264 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record low and traded at 87.90 against the U.S. dollar.
Oil India Ltd. decreased 3.7% to ₹409.35, and the crude oil and natural gas company reported a 44% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹9,391.2 crore from ₹11,493.9 crore, after-tax profit declined to ₹1,457.2 crore from ₹2,607.6 crore, and diluted earnings per share fell to ₹8.23 from ₹14.43 a year ago.
3M India Ltd. plunged 1.8% to ₹27,650 after the science and technology company reported a slight increase in revenue and a 16% decline in profit in the December quarter.
Consolidated revenue increased to ₹1,106.8 crore from ₹1,022.2 crore, net income fell to ₹113.7 crore from ₹135.2 crore, and diluted earnings per share decreased to ₹100.99 from ₹120.05 a year ago.
Ola Electric Mobility Ltd. fell 3.1% to ₹67.86 after the electric vehicle maker reported December quarter results.
Consolidated revenue decreased to ₹1,172 crore from ₹1,371 crore, net loss expanded to ₹564 crore from ₹376 crore, and diluted losses per share stretched to ₹1.28 from ₹1.02 a year ago.
Mazagon Dock Shipbuilders Ltd. increased 0.2% to ₹2,235.15 after the naval vessel builder reported a 30% surge in profit from a year ago in the December quarter revenue.
Consolidated revenue increased to ₹3,430.1 crore from ₹2,631.1 crore, net income advanced to ₹807.2 crore from ₹626.8 crore, and diluted earnings per share rose to ₹20.01 from ₹15.54 a year ago.
Fortis Healthcare Ltd. declined 1.1% to ₹642.65 despite the healthcare services provider reporting an 89% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹1,949.2 crore from ₹1,686.5 crore, after-tax profit rose to ₹254.3 crore from ₹134.3 crore, and diluted earnings per share jumped to ₹3.28 from ₹1.78 a year ago.
Delhivery Limited decreased 2.5% to ₹308.75 despite the logistics and supply chain company reporting a sharp increase in revenue and earnings.
Consolidated revenue increased to ₹2,477 crore from ₹2,325.2 crore, net income jumped to ₹25 crore from ₹11.7 crore, and diluted earnings per share rose to 33 paise from 15 paise a year ago.
Life Insurance Corporation of India advanced 0.6% to ₹820.95 after the company reported a slight increase in net income and a 5% decline in revenue in the December quarter.
Consolidated revenue decreased to ₹2,02,930.7 crore from ₹2,13,159.4 crore, after-tax profit rose to ₹11,008.7 crore from ₹9,469 crore, and diluted earnings per share jumped to ₹17.40 from ₹14.97 a year ago.
Edelweiss Financial Services Ltd. fell 0.6% to ₹111.30, and the financial services provider reported an increase in net income in the December quarter.
Consolidated revenue decreased to ₹1,996.6 crore from ₹2,414.6 crore, net income advanced to ₹155.18 crore from ₹152.2 crore, and diluted earnings per share rose to ₹1.68 from ₹1.39 a year ago.
- Brian Turner
- 08 Feb, 2025
- Washington, D.C.
Nonfarm payrolls increase slowed to 143,000 in January from the upwardly revised 307,000 in December.
The jobless rate edged down 4.0%, and wages inched up 0.5% from the previous month and increased the annual growth to 4.1%, according to the latest data released by the Bureau of Labor Statistics.
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 2022.
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%.
The change in total nonfarm payroll employment for November was revised up by 49,000 to 261,000, and for December was revised up by 51,000 to 307,000.
With these revisions, employment in November and December combined is 100,000 higher than previously reported.
- Brian Turner
- 08 Feb, 2025
- Washington, D.C.
Nonfarm payrolls increase slowed to 143,000 in January from the upwardly revised 307,000 in December.
The jobless rate edged down 4.0%, and wages inched up 0.5% from the previous month and increased the annual growth to 4.1%, according to the latest data released by the Bureau of Labor Statistics.
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 2022.
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%.
The change in total nonfarm payroll employment for November was revised up by 49,000 to 261,000, and for December was revised up by 51,000 to 307,000.
With these revisions, employment in November and December combined is 100,000 higher than previously reported.