European Markets Inch Higher Amid Strong Earnings, US-Ukraine Mineral Deal In Focus

European markets advanced in Wednesday's trading as investors reviewed another batch of mostly positive results from leading corporations. 

Benchmark indexes in Frankfurt hovered near record high, and the indexes in Paris, Milan, and London edged higher amid optimism about Russia-Ukraine conflict. 

The U.S. and Ukraine are inching closer to signing a deal that will hand over key revenue from mineral exports to the U.S. in exchange for vague security support and arms shipments. 

The agreement is widely seen in the diplomatic circles as exploitation of weakened Ukraine and plundering of resources, as the early arms shipments were billed as "aid" in defense of the Russian aggression.

Market sentiment in Europe remained positive as investors hoped that the deal could pave the way for tensions to subside in the region, which could lower energy prices and drive inflation lower. 

Europe Indexes and Yields

The DAX index increased by 1.1% to 22,651.47, the CAC-40 index edged higher 0.99% to 8,130.63, and the FTSE 100 index advanced by 0.61% to 8,721.97. 

The yield on 10-year German bonds inched lower to 2.44%, French bonds decreased to 3.16%, the UK gilts moved down to 4.49%, and Italian bonds edged lower to 3.49%.

The euro decreased to $1.05; the British pound was lower at $1.26; and the U.S. dollar was higher and traded at 89.47 Swiss cents.

Brent crude decreased $0.13 to $72.99 a barrel, and the Dutch TTF natural gas was lower by €0.62 to €43.33 per MWh.

Europe Stock Movers

E.ON increased 2.3% to €12.41, and the energy utility company reported financial results that met investor expectations. 

The company also revised higher its three-year outlook, supporting a bounce in the stock price. 

Adecco Group soared 10% to CHF 25.18, and the Swiss staffing company signaled early signs of global hiring pick up. 

Fresenius SE soared 7.5% to €39.36 after the dialysis service provider's adjusted profit in the fourth quarter surpassed market expectations. 

Deutsche Telekom AG decreased 2.2% to €34.21 after the company's 2025 earnings outlook fell short of some analysts' expectations. 

Munich Re jumped 5.5% to €555.40, and the German reinsurance company reported 2024 net income of €5.7 billion, ahead of the company's estimate of €5.0 billion.

Anheuser-Busch InBev SA jumped 7.6% to €56.42 after the alcoholic beverage company's fourth quarter results were ahead of market expectations. 

Stellantis NV declined 4% to €12.93 after the Italian vehicle company reported a sharp decline in earnings, and the company guided no major improvement in earnings in 2025.

European Markets Inch Higher Amid Strong Earnings, US-Ukraine Mineral Deal

European markets advanced in Wednesday's trading as investors reviewed another batch of mostly positive results from leading corporations. 

Benchmark indexes in Frankfurt hovered near record high, and the indexes in Paris, Milan, and London edged higher amid optimism about Russia-Ukraine conflict. 

The U.S. and Ukraine are inching closer to signing a deal that will hand over key revenue from mineral exports to the U.S. in exchange for vague security support and arms shipments. 

The agreement is widely seen in the diplomatic circles as exploitation of weakened Ukraine and plundering of resources, as the early arms shipments were billed as "aid" in defense of the Russian aggression.

Market sentiment in Europe remained positive as investors hoped that the deal could pave the way for tensions to subside in the region, which could lower energy prices and drive inflation lower. 

Europe Indexes and Yields

The DAX index increased by 1.1% to 22,651.47, the CAC-40 index edged higher 0.99% to 8,130.63, and the FTSE 100 index advanced by 0.61% to 8,721.97. 

The yield on 10-year German bonds inched lower to 2.44%, French bonds decreased to 3.16%, the UK gilts moved down to 4.49%, and Italian bonds edged lower to 3.49%.

The euro decreased to $1.05; the British pound was lower at $1.26; and the U.S. dollar was higher and traded at 89.47 Swiss cents.

Brent crude decreased $0.13 to $72.99 a barrel, and the Dutch TTF natural gas was lower by €0.62 to €43.33 per MWh.

Europe Stock Movers

E.ON increased 2.3% to €12.41, and the energy utility company reported financial results that met investor expectations. 

The company also revised higher its three-year outlook, supporting a bounce in the stock price. 

Adecco Group soared 10% to CHF 25.18, and the Swiss staffing company signaled early signs of global hiring pick up. 

Fresenius SE soared 7.5% to €39.36 after the dialysis service provider's adjusted profit in the fourth quarter surpassed market expectations. 

Deutsche Telekom AG decreased 2.2% to €34.21 after the company's 2025 earnings outlook fell short of some analysts' expectations. 

Munich Re jumped 5.5% to €555.40, and the German reinsurance company reported 2024 net income of €5.7 billion, ahead of the company's estimate of €5.0 billion.

Anheuser-Busch InBev SA jumped 7.6% to €56.42 after the alcoholic beverage company's fourth quarter results were ahead of market expectations. 

Stellantis NV declined 4% to €12.93 after the Italian vehicle company reported a sharp decline in earnings, and the company guided no major improvement in earnings in 2025.

U.S. Movers: Dillard's, Instacart, Planet Fitness

Instacart plunged 9.8% to $48.78 despite the grocery delivery company reporting revenue growth in the fourth quarter ending in December.

Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.

For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024, and adjusted EBITDA between $220 million and $230 million, compared to $198 million a year ago.

Dillard’s Inc. traded flat at $455.54 after the department store chain reported a slight decrease in revenue for the fourth quarter ending in February.

Net sales dropped 1% to $2.02 billion from $2.12 billion, net income declined 10.6% to $214.4 million from $250.5 million, and earnings per diluted share fell to $13.48 from $15.44 a year ago.

Planet Fitness Inc. eased 1.2% to $89.00 after the fitness center operator said system-wide same-club sales increased 5.5% in the fourth quarter ending in December.

Revenue increased to $340.45 million from $285.09 million, net income surged to $47.08 million from $35.34 million, and earnings per diluted share rose to 56 cents from 41 cents a year ago.

For fiscal 2025, the company estimated same-club sales growth between 5% and 6%, revenue growth of approximately 10%, and adjusted net income growth between 8% and 9%.

Planet Fitness also expects new equipment placements between 130 and 140 in franchise-owned locations and new club openings between 160 and 170 locations in 2025.

U.S. Movers: Dillard's, Instacart, Planet Fitness

Instacart plunged 9.8% to $48.78 despite the grocery delivery company reporting revenue growth in the fourth quarter ending in December.

Revenue increased to $883 million from $803 million, net income jumped to $148 million from $135 million, and earnings per diluted share rose to 53 cents from 44 cents a year ago.

For the first quarter of 2025, the company estimated gross transaction value between $9.0 billion and $9.15 billion, compared to $8.32 billion in the same quarter in 2024, and adjusted EBITDA between $220 million and $230 million, compared to $198 million a year ago.

Dillard’s Inc. traded flat at $455.54 after the department store chain reported a slight decrease in revenue for the fourth quarter ending in February.

Net sales dropped 1% to $2.02 billion from $2.12 billion, net income declined 10.6% to $214.4 million from $250.5 million, and earnings per diluted share fell to $13.48 from $15.44 a year ago.

Planet Fitness Inc. eased 1.2% to $89.00 after the fitness center operator said system-wide same-club sales increased 5.5% in the fourth quarter ending in December.

Revenue increased to $340.45 million from $285.09 million, net income surged to $47.08 million from $35.34 million, and earnings per diluted share rose to 56 cents from 41 cents a year ago.

For fiscal 2025, the company estimated same-club sales growth between 5% and 6%, revenue growth of approximately 10%, and adjusted net income growth between 8% and 9%.

Planet Fitness also expects new equipment placements between 130 and 140 in franchise-owned locations and new club openings between 160 and 170 locations in 2025.

Europe Movers: Alcon, Danone, Saipem, Stellantis, Wolters Kluwer

Alcon AG dropped 0.6% to CHF 80.16 after the eye products maker reported sales growth in the fourth quarter ending in December.

Net sales increased to $2.48 billion from $2.33 billion, net income declined to $284 million from $427 million, and earnings per diluted share fell to 57 cents from 86 cents a year ago.

The company proposed a dividend of 28 Swiss cents per share, to be approved at the annual general meeting on May 6.

For fiscal 2025, Alcon estimated net sales between $10.2 billion and $10.4 billion, compared to $9.84 billion in 2024, and earnings per share between $3.15 and $3.25, compared to $2.05 in 2024.

Wolters Kluwer NV traded flat at €172.35 after the Dutch technical information services company reported revenue growth in fiscal 2024 ending in December.

Revenue increased to €5.92 billion from €5.58 billion, profit edged up to €1.08 billion from €1.01 billion, and earnings per diluted share rose to €4.52 from €4.09 a year ago.

The company proposed a final cash dividend of €1.50 per share, resulting in a total dividend in fiscal 2024 of €2.33 per share, an increase of 12%.

In addition, the company plans to repurchase shares for up to €1 billion in 2025.

For fiscal 2025, Wolters Kluwer estimated an adjusted operating profit margin between 27.1% and 27.5%, a return on invested capital between 18% and 19%, and adjusted earnings per diluted share to grow at mid-single digits.

The company’s health segment expanded by 6% in 2024, and the projection for the current year is "in line with this growth or slightly below it," with the first half of the year facing challenging comparisons across the division.

The tax and accounting, financial and corporate compliance, and legal regulatory segments are also expected to sustain prior-year growth rates, while the corporate performance and environmental, social, and governance division is estimated to grow at faster rates than in the previous year.

Danone SA gained 0.7% to €70.00 after the French dairy food products company reported muted sales in fiscal 2024 ending in December.

Sales decreased to €27.38 billion from €27.62 billion, net income surged to €2.10 billion from €953 million, and earnings per diluted share fell to €3.14 from €1.36 a year ago.

Comparable sales in 2024 rose 4.3%, and in the fourth quarter advanced 1.8%.

For fiscal 2025, Danone estimated comparable sales growth between 3% and 5%, with recurring operating income growing faster than sales.

The company proposed a dividend of €2.15 per share, up 2.4% compared to the previous year, with the ex-dividend date on May 3 and payable on May 7.

In addition, Danone plans to buy back 2.7 million shares in one or more tranches in 2025.

Stellantis NV plunged 5.5% to €12.75 after the Italian automobile maker reported a 70% drop in full-year 2024 profit.

Revenue decreased 17% to €156.88 billion from €189.54 billion, net profit plunged 70% to €5.52 billion from €18.62 billion, and earnings per diluted share fell 69% to €1.84 from €5.94 a year ago.

The company guided for fiscal 2025 positive net revenue growth and adjusted operating income margin in the mid-single digits percentage.

Stellantis plans to appoint a new Chief Executive Officer within the first half of 2025.

Saipem S.p.A. gained 5.9% to €2.40 after the Italian oilfield services company reported full-year 2024 results.

Revenue increased to €14.55 billion from €11.87 billion, net income surged to €306 million from €179 million, and EBITDA climbed to €1.33 billion from €926 million a year ago.

For fiscal 2025, the company estimated revenue of about €15 billion and EBITDA at €1.6 billion.

Saipem agreed on a possible merger with Subsea7, a Luxembourg-registered company involved in subsea engineering and construction serving the offshore oil and gas industry.

Europe Movers: Alcon, Danone, Saipem, Stellantis, Wolters Kluwer

Alcon AG dropped 0.6% to CHF 80.16 after the eye products maker reported sales growth in the fourth quarter ending in December.

Net sales increased to $2.48 billion from $2.33 billion, net income declined to $284 million from $427 million, and earnings per diluted share fell to 57 cents from 86 cents a year ago.

The company proposed a dividend of 28 Swiss cents per share, to be approved at the annual general meeting on May 6.

For fiscal 2025, Alcon estimated net sales between $10.2 billion to $10.4 billion, compared to $9.84 billion in 2024, and earnings per share between $3.15 and $3.25, compared to $2.05 in 2024.

Wolters Kluwer NV traded flat at €172.35 after the Dutch technical information services company reported revenue growth in fiscal 2024 ending in December.

Revenue increased to €5.92 billion from €5.58 billion, profit edged up to €1.08 billion from €1.01 billion, and earnings per diluted share rose to €4.52 from €4.09 a year ago.

The company proposed a final cash dividend of €1.50 per share, resulting in a total dividend  in fiscal 2024 of €2.33 per share, an increase of 12%.

In addition, the company plans to repurchase shares for up to €1 billion in 2025.

For fiscal 2025, Wolter Kluwer estimated adjusted operating profit margin between 27.1% and 27.5%, return on invested capital between 18% and 19%, and adjusted earnings per diluted share to grow at mid-single-digits.

The company’s health segment expanded by 6% in 2024, and the projection for the current year is "in-line with this growth or slightly below it," with the first year-half facing challenging comparisons across the division.

The tax and accounting, financial and corporate compliance, and legal regulatory segments are also expected to sustain prior-year growth rates, while the corporate performance and environmental, social and governance division is estimated to grow at faster rates than in the previous year.  

Danone SA gained 0.7% to €70.00 after the French dairy food products company reported muted sales in fiscal 2024 ending in December.

Sales decreased to €27.38 billion from €27.62 billion, net income surged to €2.10 billion from €953 million, and earnings per diluted share fell to €3.14 from €1.36 a year ago.

Comparable sales in 2024 rose 4.3%, and in the fourth quarter advanced 1.8%.

For fiscal 2025, Danone estimated comparable sales growth between 3% and 5%, with recurring operating income growing faster than sales.

The company proposed a dividend of €2.15 per share, up 2.4% compared to the previous year, with the ex-dividend date on May 3, and payable on May 7.

In addition, Danone plans to buy back 2.7 million of shares, in one or more tranches in 2025.

Stellantis NV plunged 5.5% to €12.75 after the Italian automobile maker reported a 70% drop full-year 2024 profit.

Revenue decreased 17% to €156.88 billion from €189.54 billion, net profit plunged 70% to €5.52 billion from €18.62 billion, and earnings per diluted share fell 69% to €1.84 from €5.94 a year ago.

The company guided fiscal 2025 positive net revenue growth and adjusted operating income margin in the mid-single digits percentage.

Stellantis plans to appoint a new Chief Executive Officer within the first half of 2025.

Saipem S.p.A. gained 5.9% to €2.40 after the Italian oilfield services company reported full-year 2024 results.

Revenue increased to €14.55 billion from €11.87 billion, net income surged to €306 million from €179 million, and EBITDA climbed to €1.33 billion from €926 million a year ago.

For fiscal 2025, the company estimated revenue of about €15 billion, and EBITDA at €1.6 billion.

Saipem agreed on a possible merger with Subsea7, a Luxembourg-registered company involved in subsea engineering and construction serving the offshore oil and gas industry.

Europe Movers:

Alcon AG dropped 0.6% to CHF 80.16 after the eye products maker reported sales growth in the fourth quarter ending in December.

Net sales increased to $2.48 billion from $2.33 billion, net income declined to $284 million from $427 million, and earnings per diluted share fell to 57 cents from 86 cents a year ago.

The company proposed a dividend of 28 Swiss cents per share, to be approved at the annual general meeting on May 6.

For fiscal 2025, Alcon estimated net sales between $10.2 billion to $10.4 billion, compared to $9.84 billion in 2024, and earnings per share between $3.15 and $3.25, compared to $2.05 in 2024.

Wolter Kluwer NV traded flat at €172.35 after the Dutch information services company reported revenue growth in fiscal 2024 ending in December.

Revenue increased to €5.92 billion from €5.58 billion, profit jumped to €1.08 billion from €1.01 billion, and earnings per diluted share rose to €4.52 from €4.09 a year ago.

The company proposed a final cash dividend of €1.50 per share, which would reslut in a total dividend over the 2024 financial year of €2.33 per share, an increase of 12%.

In addition, the company plans to repurchase shares for up to €1 billion in 2025.

For fiscal 2025, Wolter Kluwer estimated adjusted operating profit margin between 27.1% and 27.5%, return on invested capital between 18% and 19%, and adjusted earnings per diluted share to grow at mid-single-digits.

The company’s health segment expanded by 6% in 2024, and the projection for the current year is in line with this growth or slightly below it, with the first year-half facing challenging comparables across the division.

The tax and accounting, financial and corporate compliance, and legal regulatory segments are also expected to sustain prior-year growth percentages, while the corporate performance and environmental, social and governance division is estimated to grow above prior-year percentages.

Danone SA gained 0.7% to €70.00 after the French food products company reported revenue growth in fiscal 2024 ending in December.

Sales increased to €27.38 billion from €27.62 billion, net income surged to €2.10 billion fom €953 million, and earnings per diluted share rose to €3.14 from €1.36 a year ago.

Same-store sales in 2024 were up 4.3%, and in the fourth quarter they were up 1.8%.

For fiscal 2025, Danone estimated same-store sales growth between 3% and 5%, with recurring operating income growing faster than sales.

The company proposed a divdidend of €2.15 per share, up 2.4% compared to the previous year, with the ex-dividend date on May 3, and payable on May 7.

In addition, Danone plans to buy back 2.7 million of shares, in one or more tranches in 2025.

Stellantis NV plunged 5.5% to €12.75 after the Italian automobiles maker reported a 70% drop full-year 2024 profit.

Revenue decreased 17% to €156.88 billion from €189.54 billion, net profit droped 70% to €5.52 billion from €18.62 billion, and earnings per diluted share fell 69% to €1.84 from €5.94 a year ago.

The company guided fiscal 2025 positive net revenue growth and adjusted operating income margin in the mid-single digits percentage.

Stellantis plans to appoint a new Chief Executive Officer within the first half of 2025.

Saipem S.p.A. gained 5.9% to €2.40 after the Italian oilfield services company reported full-year 2024 results.

Revenue increased to €14.55 billion from €11.87 billion, net income surged to €306 million from €179 million, and EBITDA climbed to €1.33 billion from €926 million a year ago.

For fiscal 2025, the company estimated revenue of about €15 billion, and EBITDA at €1.6 billion.

Saipem agreed on a possible merger with Subsea7, a Luxembourg-registered company involved in subsea engineering and construction serving the offshore energy industry.

Europe Movers:

Nikkei 225 Drops to 3-Month Low Ahead of Inflation and Retail Sales Data

Benchmark indexes in Tokyo extended losses in the week and in February following declines on Wall Street. 

The Nikkei stock average fell 0.3%, and the TOPIX dropped 0.28% amid growing worries about the state of the U.S. economy and the chaotic White House. 

Investors are gearing up for a series of economic data on Friday and looking for clues about the possible impact on the Bank of Japan's next move. 

Retail sales, industrial production, and Tokyo area inflation are scheduled to be released on Friday. 

Investors are anticipating that consumer price inflation in the Tokyo area is likely to accelerate, driven in large part by the increases in food and fuel prices. 

Retail sales are expected to advance amid rising wages and higher prices contributing to the increase from a year ago.

The Japanese yen advanced to 149.44 against the U.S. dollar, and traders anticipated that the Bank of Japan is more likely to raise interest rates in March following the likely increase in inflation in the Tokyo area. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average decreased 0.3% to 38,142.37, and the broader TOPIX declined 0.3% to 2,716.40. 

Artificial intelligence-linked semiconductor equipment makers declined ahead of the release of quarterly results from Nvidia later today. 

Tokyo Electron decreased 5% to ¥22,945.0, Advantest Corp. jumped 1% to ¥9,070.0, and Disco Corp. fell 4% to ¥41,100.0.

Trading houses were in focus for the second consecutive day, and stocks erased most of the previous session's gains after Warren Buffett-controlled Berkshire Hathaway increased its stake in the sector. 

Marubeni Corp. fell 2.4% to ¥2,400.50, Itochu Corp. decreased 0.9% to ¥6,492.0, Mitsubishi Corp. declined 2.6% to ¥2,521.50, and Sumitomo Corp. eased 2% to ¥3,386.0.

Nikkei 225 Drops to 3-Month Low Ahead of Inflation and Retail Sales Data

Benchmark indexes in Tokyo extended losses in the week and in February following declines on Wall Street. 

The Nikkei stock average fell 0.3%, and the TOPIX dropped 0.28% amid growing worries about the state of the U.S. economy and the chaotic White House. 

Investors are gearing up for a series of economic data on Friday and looking for clues about the possible impact on the Bank of Japan's next move. 

Retail sales, industrial production, and Tokyo area inflation are scheduled to be released on Friday. 

Investors are anticipating that consumer price inflation in the Tokyo area is likely to accelerate, driven in large part by the increases in food and fuel prices. 

Retail sales are expected to advance amid rising wages and higher prices contributing to the increase from a year ago.

The Japanese yen advanced to 149.44 against the U.S. dollar, and traders anticipated that the Bank of Japan is more likely to raise interest rates in March following the likely increase in inflation in the Tokyo area. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average decreased 0.3% to 38,142.37, and the broader TOPIX declined 0.3% to 2,716.40. 

Artificial intelligence-linked semiconductor equipment makers declined ahead of the release of quarterly results from Nvidia later today. 

Tokyo Electron decreased 5% to ¥22,945.0, Advantest Corp. jumped 1% to ¥9,070.0, and Disco Corp. fell 4% to ¥41,100.0.

Trading houses were in focus for the second consecutive day, and stocks erased most of the previous session's gains after Warren Buffett-controlled Berkshire Hathaway increased its stake in the sector. 

Marubeni Corp. fell 2.4% to ¥2,400.50, Itochu Corp. decreased 0.9% to ¥6,492.0, Mitsubishi Corp. declined 2.6% to ¥2,521.50, and Sumitomo Corp. eased 2% to ¥3,386.0.

Hong Kong's Tech Rally Resumed Amid Return of Foreign Buyers, Mixue Group's IPO Attracts Huge Retail Demand

Benchmark indexes in Hong Kong sharply rebounded amid an inflow of foreign funds and optimism about Beijing's policy support. 

The Hang Seng index soared more than 3% and erased 2% losses in the previous two sessions, as investors searched for bargains in tech stocks. 

Hong Kong's tech index has jumped more than 18% from the low in January after the success of Deep Seek raised hopes that more Chinese companies could afford to accelerate the use of artificial intelligence technology. 

The DeepSeek's affordable technology got worldwide attention, and investors bid up Internet platform operators as companies ramped up the application of AI-enabled tools to deliver better and expanded services. 

The Hang Seng index has led the developed world markets in 2025 with gains of 21.2%, but the mainland-focused CSI 300 index has lagged with a rise of 3%. 

Foreign investors have been increasing their allocation to stocks in Hong Kong and Europe and shifting their interest away from India and the U.S. amid attractive valuations. 

Hong Kong tech stocks are trading at significant discounts to their European and Japanese peers, but that low valuation also reflected weak earnings growth outlook, China's arbitrary policy-making, and slowing economic growth in the world's second-largest economy.

China Indexes and Stocks

The Hang Seng index increased 3.1% to 23,757.74, and the mainland-focused China index advanced 0.5% to 3,945.41.

Alibaba Group Holding increased 5.4% to HK $137.60, Tencent Holdings jumped 3.3% to HK $501.50, and JD.com soared 9% to HK $168.20. 

Mixue launched its book-building process on February 21, and retail subscription attracted more than HK $1.6 trillion. 

Mixue plans to sell 17.1 million shares at HK $202.50 per share, and about 10% of the offering is reserved for retail investors. 

So far, the retail tranche is oversubscribed more than 1,000 times, surpassing the level of interest during the initial public offering of Ant Group in 2020.

The minimum retail investment requirement is HK$20,454.22 for a lot of 100 shares.

The stock is expected to begin trading on March 3. 

Hong Kong's Tech Rally Resumed Amid Return of Foreign Buyers

Benchmark indexes in Hong Kong sharply rebounded amid an inflow of foreign funds and optimism about Beijing's policy support. 

The Hang Seng index soared more than 3% and erased 2% losses in the previous two sessions, as investors searched for bargains in tech stocks. 

Hong Kong's tech index has jumped more than 18% from the low in January after the success of Deep Seek raised hopes that more Chinese companies could afford to accelerate the use of artificial intelligence technology. 

The Deep Seek's affordable technology got worldwide attention, and investors bid up Internet platform operators as companies ramped up the application of AI-enabled tools to deliver better and expanded services. 

The Hang Seng index has led the developed world markets in 2025 with gains of 21.2%, but the mainland-focused CSI 300 index has lagged with a rise of 3%. 

Foreign investors have been increasing their allocation to stocks in Hong Kong and Europe and shifting their interest away from India and the U.S. amid attractive valuations. 

Hong Kong tech stocks are trading at significant discounts to their European and Japanese peers, but that low valuation also reflected weak earnings growth outlook, China's arbitrary policy-making, and slowing economic growth in the world's second-largest economy.

China Indexes and Stocks

The Hang Seng index increased 3.1% to 23,757.74, and the mainland-focused China index advanced 0.5% to 3,945.41.

Alibaba Group Holding increased 5.4% to HK $137.60, Tencent Holdings jumped 3.3% to HK $501.50, and JD.com soared 9% to HK $168.20. 

India Movers: Movers: Bharat Rasayan, Concord Biotech, Enkei Wheels, HCL Technologies, Lux Industries, Manjeera Constructions

Rain Industries Ltd. declined 0.01% to ₹125.81 after the carbon, chemical, and cement products maker said net loss shrank in the December quarter.

 Consolidated revenue decreased to ₹3,710 crore from ₹4,172.4 crore, net loss declined to ₹133.6 crore from ₹1,078.8 crore, and diluted losses per share dropped to ₹4.80 from ₹33.26 a year ago.

Enkei Wheels India Ltd. increased 1.1% to ₹566.55 after the alloy wheel maker swung to a loss in the December quarter.

Consolidated revenue advanced to ₹200.5 crore from ₹195.4 crore, after-tax losses swung to ₹3 crore from a profit of ₹2.1 crore, and diluted losses per share swung to ₹1.65 from a profit of ₹1.17 a year ago.

Manjeera Constructions Ltd. was unchanged at ₹40.36, and the real estate development company reported a decrease in sales from a year ago in the December quarter.

Consolidated revenue decreased to ₹14.7 crore from ₹16.3 crore, after-tax profit jumped to ₹3.8 crore from ₹2 crore, and diluted earnings per share advanced to ₹3.02 from ₹1.59 a year ago.

Lux Industries decreased 0.07% to ₹1,363.50 despite the textile manufacturing company reporting a 59% jump in its earnings in the December quarter.

Consolidated revenue advanced to ₹556.87 crore from ₹454.65 crore, net income jumped to ₹32.1 crore from ₹20.2 crore, and diluted earnings per share rose to ₹10.66 from ₹6.72 a year ago.

Adani Enterprises Limited rose 0.7% to ₹2,130.05 despite the infrastructure development company reporting an 89% plunge from a year ago in quarterly profit.

Consolidated revenue decreased to ₹23,500.5 crore from ₹25,540.35 crore, after-tax profit dropped to ₹228.6 crore from ₹1,972.8 crore, and diluted earnings per share fell to 4 paisa from ₹16.10 a year ago.

HCL Technologies Ltd. decreased 0.5% to ₹1,636.80 after the technology-enabled services reported a slight increase in revenue and net income in the December quarter.

Consolidated revenue advanced to ₹30,367 crore from ₹28,816 crore, net income increased to ₹1,538 crore from ₹1,523 crore, and diluted earnings per share rose to ₹16.93 from ₹16.03 a year ago.

Bharat Rasayan Limited fell 0.7% to ₹10,213.75 despite the pesticide maker reporting a 72% increase in net income in the December quarter.

Consolidated revenue increased to ₹263.6 crore from ₹236.5 crore, after-tax profit advanced to ₹29.7 crore from ₹17.3 crore, and diluted earnings per share rose to ₹71.5 from ₹41.6 a year ago.

Concord Biotech Limited dropped 4% to ₹1,627.25 after the biopharma company reported a slight increase in revenue and a marginal decline in net in the December quarter.

Consolidated revenue advanced to ₹258.9 crore from ₹249 crore, net income fell to ₹74.1 crore from ₹74.5 crore, and diluted earnings per share decreased to ₹7.08 from ₹7.13 a year ago.

India Movers: Movers: Bharat Rasayan, Concord Biotech, Enkei Wheels, HCL Technologies, Lux Industries, Manjeera Constructions

Rain Industries Ltd. declined 0.01% to ₹125.81 after the carbon, chemical, and cement products maker said net loss shrank in the December quarter.

 Consolidated revenue decreased to ₹3,710 crore from ₹4,172.4 crore, net loss declined to ₹133.6 crore from ₹1,078.8 crore, and diluted losses per share dropped to ₹4.80 from ₹33.26 a year ago.

Enkei Wheels India Ltd. increased 1.1% to ₹566.55 after the alloy wheel maker swung to a loss in the December quarter.

Consolidated revenue advanced to ₹200.5 crore from ₹195.4 crore, after-tax losses swung to ₹3 crore from a profit of ₹2.1 crore, and diluted losses per share swung to ₹1.65 from a profit of ₹1.17 a year ago.

Manjeera Constructions Ltd. was unchanged at ₹40.36, and the real estate development company reported a decrease in sales from a year ago in the December quarter.

Consolidated revenue decreased to ₹14.7 crore from ₹16.3 crore, after-tax profit jumped to ₹3.8 crore from ₹2 crore, and diluted earnings per share advanced to ₹3.02 from ₹1.59 a year ago.

Lux Industries decreased 0.07% to ₹1,363.50 despite the textile manufacturing company reporting a 59% jump in its earnings in the December quarter.

Consolidated revenue advanced to ₹556.87 crore from ₹454.65 crore, net income jumped to ₹32.1 crore from ₹20.2 crore, and diluted earnings per share rose to ₹10.66 from ₹6.72 a year ago.

Adani Enterprises Limited rose 0.7% to ₹2,130.05 despite the infrastructure development company reporting an 89% plunge from a year ago in quarterly profit.

Consolidated revenue decreased to ₹23,500.5 crore from ₹25,540.35 crore, after-tax profit dropped to ₹228.6 crore from ₹1,972.8 crore, and diluted earnings per share fell to 4 paisa from ₹16.10 a year ago.

HCL Technologies Ltd. decreased 0.5% to ₹1,636.80 after the technology-enabled services reported a slight increase in revenue and net income in the December quarter.

Consolidated revenue advanced to ₹30,367 crore from ₹28,816 crore, net income increased to ₹1,538 crore from ₹1,523 crore, and diluted earnings per share rose to ₹16.93 from ₹16.03 a year ago.

Bharat Rasayan Limited fell 0.7% to ₹10,213.75 despite the pesticide maker reporting a 72% increase in net income in the December quarter.

Consolidated revenue increased to ₹263.6 crore from ₹236.5 crore, after-tax profit advanced to ₹29.7 crore from ₹17.3 crore, and diluted earnings per share rose to ₹71.5 from ₹41.6 a year ago.

Concord Biotech Limited dropped 4% to ₹1,627.25 after the biopharma company reported a slight increase in revenue and a marginal decline in net in the December quarter.

Consolidated revenue advanced to ₹258.9 crore from ₹249 crore, net income fell to ₹74.1 crore from ₹74.5 crore, and diluted earnings per share decreased to ₹7.08 from ₹7.13 a year ago.

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