- Li Chen
- 27 Jan, 2025
- Hong Kong
Financial markets in China and Hong Kong advanced after the top financial regulator announced additional measures to shore up faltering stock market confidence.
The Hang Seng index increased 1%, and the mainland-focused CSI 300 index advanced a fraction.
The China Securities Regulatory Commission announced measures to facilitate investment in index-linked funds and also expanded its list of insurance companies required to invest a portion of premiums on new policies in onshore stock markets.
Twin moves by the regulatory agency are part of a plan to arrest the further decline in financial markets after five years of weakness and increase the attractiveness of Chinese stocks to foreign investors.
Market sentiment was cautious after the latest official survey showed a slowdown in growth in activities in the manufacturing and services sector in January.
The official Manufacturing Purchasing Managers' Index decreased to 49.1 from 50.1 in December, indicating a slowdown ahead of the Lunar New Year holidays.
China's official non-manufacturing Purchasing Managers' Index fell to 50.2 in January from a nine-month high of 52.2 in December.
Financial markets in China will remain closed from January 28 to February 4, and in Hong Kong, they will close from midday January 28 to January 31.
The National Bureau of Statistics on Monday released two surveys indicating the updates in business activities.
China Stock Movers
The Hang Seng index increased 1% to 20,257.34, and the CSI 300 index advanced 0.1% to 3,836.30.
Beijing Haibo Sichuang Technology soared more than 230% to 61.43 yuan in Shanghai after the electrochemical storage company completed its initial public offering.
The storage company sold 44.4 million shares and raised 783 million yuan.
Yalian Machinery surged 180% to 54.14 yuan in Shenzhen after the wood-based panel machinery company priced its share at 19.08 yuan in an initial public offering.
Yalian sold 21.8 million shares and raised 416 million yuan and listed its shares on the Shenzhen Stock Exchange.
- Arun Goswami
- 27 Jan, 2025
- Mumbai
Stock market indexes in Mumbai headed lower ahead of the release of the Union Budget and rising geopolitical tensions.
The Sensex index decreased by 0.9% to 75,441.05, and the Nifty index decreased by 1.0% to 22,858.45
On the Mumbai stock exchange, 60 stocks traded at their 52-week highs, and 74 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 86.33 against the U.S. dollar.
Bank Of India fell 4% to ₹76.85 after the financial services provider reported a rise in revenue and net income in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹8,629 crore from ₹ 7,579.9 crore, net income jumped to ₹1,929.1 crore from ₹1,480.8 crore, and diluted earnings per share rose to ₹1.81 from ₹1.40 a year ago.
Shakti Pumps (India) Ltd. Finance decreased 1.7% to ₹1,141.75 despite the company said profit soared 130% in the fiscal third quarter.
Consolidated revenue in the December quarter advanced to ₹652.7 crore from ₹497 crore, after-tax profit jumped to ₹104.1 crore from ₹45.2 crore, and diluted earnings per share jumped to ₹8.66 from ₹4.10 a year ago
Torrent Pharmaceuticals Ltd. increased 0.8% to ₹3,247.7 despite the company reporting higher income and revenue in the December quarter.
Consolidated revenue in the December quarter increased to ₹2,842 crore from ₹2,699 crore, net income advanced to ₹503 crore from ₹443 crore, and diluted earnings per share rose to ₹14.88 from ₹13.10 a year ago.
JSW Steel Ltd. plunged 1.7% to ₹917.05 and the company reported net profit dropped 70% in December quarter.
Consolidated revenue in the December quarter decreased to ₹41,525 crore from ₹42,143 crore, after-tax profit plunged to ₹719 crore from ₹2,450 crore, and diluted earnings per share fell to ₹2.93 from ₹9.88 a year ago.
Jindal Saw fell 4.7% to ₹234.20 and the company reported a decline in revenue and earnings in the fiscal third quarter.
Consolidated revenue in the December quarter decreased to ₹5,293.3 crore from ₹5,696.4 crore, after-tax profit fell to ₹479.4 crore from ₹512.4 crore, and diluted earnings per share jumped to ₹9.92 from ₹8.39 a year ago
Andhra Cements Ltd. dropped 1.6% to ₹70.86 after the company reported a decline in revenue and net loss in the fiscal third quarter.
Consolidated revenue in the December quarter decreased to ₹68.28 crore from ₹98.36 crore, loss has expanded to ₹43.7 crore from ₹30.57 crore, and diluted loss per share expanded to ₹4.74 from ₹2.30 a year ago.
Au Small Finance Bank Ltd. fell 6.6% to ₹554.60 despite the company reporting a rise in revenue and earnings the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹4,731.88 crore from ₹3,178.05 crore, after-tax profit rose to ₹528.44 crore from ₹375.24 crore, and diluted earnings per share jumped to ₹7.08 from ₹5.58 a year ago.
Laurus Labs Ltd. decreased 12.6% to ₹525 despite the company reporting a 260% jump in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹1,424.4 crore from ₹1,197.3 crore, net income jumped to ₹90.61 crore from ₹25.17 crore, and diluted earnings per share rose to ₹1.71 from 43 paisa a year ago.
Godrej Consumer Products Ltd. plunged 0.42% to ₹1125.20 after the company reported December quarter results.
Consolidated revenue in the December quarter increased to ₹3,851 crore from ₹3,729 crore, net income declined to ₹498.31 crore from ₹581.06 crore, and diluted earnings per share fell to ₹4.87 from ₹5.68 a year ago.
DLF ltd. increased 2.32% to ₹711.20 after the company reported an increase in revenue and earnings In December quarter results.
Consolidated revenue in the December quarter increased to ₹1,737.4 crore from ₹1,643.5 crore, net income jumped to ₹1,058.7 crore from ₹655.7 crore, and diluted earnings per share rose to ₹4.28 from ₹2.65 a year ago.
- Arun Goswami
- 27 Jan, 2025
- Mumbai
Stock market indexes in Mumbai headed lower ahead of the release of the Union Budget and rising geopolitical tensions.
The Sensex index decreased by 0.9% to 75,441.05, and the Nifty index decreased by 1.0% to 22,858.45
On the Mumbai stock exchange, 60 stocks traded at their 52-week highs, and 74 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 86.33 against the U.S. dollar.
Bank Of India fell 4% to ₹76.85 after the financial services provider reported a rise in revenue and net income in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹8,629 crore from ₹ 7,579.9 crore, net income jumped to ₹1,929.1 crore from ₹1,480.8 crore, and diluted earnings per share rose to ₹1.81 from ₹1.40 a year ago.
Shakti Pumps (India) Ltd. Finance decreased 1.7% to ₹1,141.75 despite the company said profit soared 130% in the fiscal third quarter.
Consolidated revenue in the December quarter advanced to ₹652.7 crore from ₹497 crore, after-tax profit jumped to ₹104.1 crore from ₹45.2 crore, and diluted earnings per share jumped to ₹8.66 from ₹4.10 a year ago
Torrent Pharmaceuticals Ltd. increased 0.8% to ₹3,247.7 despite the company reporting higher income and revenue in the December quarter.
Consolidated revenue in the December quarter increased to ₹2,842 crore from ₹2,699 crore, net income advanced to ₹503 crore from ₹443 crore, and diluted earnings per share rose to ₹14.88 from ₹13.10 a year ago.
JSW Steel Ltd. plunged 1.7% to ₹917.05 and the company reported net profit dropped 70% in December quarter.
Consolidated revenue in the December quarter decreased to ₹41,525 crore from ₹42,143 crore, after-tax profit plunged to ₹719 crore from ₹2,450 crore, and diluted earnings per share fell to ₹2.93 from ₹9.88 a year ago.
Jindal Saw fell 4.7% to ₹234.20 and the company reported a decline in revenue and earnings in the fiscal third quarter.
Consolidated revenue in the December quarter decreased to ₹5,293.3 crore from ₹5,696.4 crore, after-tax profit fell to ₹479.4 crore from ₹512.4 crore, and diluted earnings per share jumped to ₹9.92 from ₹8.39 a year ago
Andhra Cements Ltd. dropped 1.6% to ₹70.86 after the company reported a decline in revenue and net loss in the fiscal third quarter.
Consolidated revenue in the December quarter decreased to ₹66.33 crore from ₹184.58 crore, net loss shrank to ₹43.7 crore from ₹ 102.2 crore, and diluted loss per share fell to ₹4.74 from ₹11.09 a year ago.
Au Small Finance Bank Ltd. fell 6.6% to ₹554.60 despite the company reporting a rise in revenue and earnings the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹4,731.88 crore from ₹3,178.05 crore, after-tax profit rose to ₹528.44 crore from ₹375.24 crore, and diluted earnings per share jumped to ₹7.08 from ₹5.58 a year ago.
Laurus Labs Ltd. decreased 12.6% to ₹525 despite the company reporting a 260% jump in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹1,424.4 crore from ₹1,197.3 crore, net income jumped to ₹90.61 crore from ₹25.17 crore, and diluted earnings per share rose to ₹1.71 from 43 paisa a year ago.
Godrej Consumer Products Ltd. plunged 0.42% to ₹1125.20 after the company reported December quarter results.
Consolidated revenue in the December quarter increased to ₹3,851 crore from ₹3,729 crore, net income declined to ₹498.31 crore from ₹581.06 crore, and diluted earnings per share fell to ₹4.87 from ₹5.68 a year ago.
DLF ltd. increased 2.32% to ₹711.20 after the company reported an increase in revenue and earnings In December quarter results.
Consolidated revenue in the December quarter increased to ₹1,737.4 crore from ₹1,643.5 crore, net income jumped to ₹1,058.7 crore from ₹655.7 crore, and diluted earnings per share rose to ₹4.28 from ₹2.65 a year ago.
- Scott Peters
- 24 Jan, 2025
- New York City
Boeing Company declined 1% to $176.66 after the aviation company released preliminary fourth-quarter results.
CSX Corp. decreased 4.2% to $32.25 after the railroad operator reported weaker-than-expected revenue in the fourth quarter.
The rail transportation and real estate company reported a 4% drop in fourth-quarter revenue despite lower fuel expenses.
Revenue declined 4% to $3.5 billion from $3.7 billion; net income fell 17% to $733 million from $882 million, and earnings per diluted share slipped to 38 cents from 45 cents a year ago.
The company’s cash flow dropped to $933 million from $1.3 billion, as property assets increased to $35.6 million from $34.7 million, and investments in affiliates and other companies climbed to $2.5 million from $2.4 million a year earlier.
Union Pacific Corp gained 5.2% to $248 after the railroad company reported a 7% rise in fourth-quarter earnings as carloads were up 5% and fuel expenses declined 23%.
Revenue dropped 1% to $6.1 billion from $6.2 billion; net income was up 7% to $1.8 billion from $1.7 billion, and earnings per share rose to $2.91 from $2.71 a year ago.
In 2025, the company expects share repurchases between $4 billion and $4.5 billion.
Texas Instruments decreased 4.9% to $191.28 after the advanced semiconductor company's current quarter earnings outlook disappointed some investors.
Twilio Inc. jumped 20% to $136.13 after the cloud communication software services provider estimated strong revenue growth in the years ahead.
The company also announced a $2 billion stock repurchase plan, supported by rising earnings and free cash flow.
American Express increased 1% to $324.90 after the charge card company posted record revenue in 2024.
Fourth-quarter revenue increased 8% to $17.2 billion from $15.8 billion; net income surged 12% to $2.2 billion from $1.9 billion, and earnings per diluted share rose to $3.04 from $2.62 a year ago.
The company plans to increase its quarterly dividend by 17% to 82 cents from 70 cents per share, beginning in the first quarter this year.
For fiscal 2025, American Express expects revenue growth between 8% and 10% and earnings per share to range between $15 and $15.50.
- Scott Peters
- 24 Jan, 2025
- New York City
Boeing Company declined 1% to $176.66 after the aviation company released preliminary fourth-quarter results.
CSX Corp. decreased 4.2% to $32.25 after the railroad operator reported weaker-than-expected revenue in the fourth quarter.
The rail transportation and real estate company reported a 4% drop in fourth-quarter revenue despite lower fuel expenses.
Revenue declined 4% to $3.5 billion from $3.7 billion; net income fell 17% to $733 million from $882 million, and earnings per diluted share slipped to 38 cents from 45 cents a year ago.
The company’s cash flow dropped to $933 million from $1.3 billion, as property assets increased to $35.6 million from $34.7 million, and investments in affiliates and other companies climbed to $2.5 million from $2.4 million a year earlier.
Union Pacific Corp gained 5.2% to $248 after the railroad company reported a 7% rise in fourth-quarter earnings as carloads were up 5% and fuel expenses declined 23%.
Revenue dropped 1% to $6.1 billion from $6.2 billion; net income was up 7% to $1.8 billion from $1.7 billion, and earnings per share rose to $2.91 from $2.71 a year ago.
In 2025, the company expects share repurchases between $4 billion and $4.5 billion.
Texas Instruments decreased 4.9% to $191.28 after the advanced semiconductor company's current quarter earnings outlook disappointed some investors.
Twilio Inc. jumped 20% to $136.13 after the cloud communication software services provider estimated strong revenue growth in the years ahead.
The company also announced a $2 billion stock repurchase plan, supported by rising earnings and free cash flow.
American Express increased 1% to $324.90 after the charge card company posted record revenue in 2024.
Fourth-quarter revenue increased 8% to $17.2 billion from $15.8 billion; net income surged 12% to $2.2 billion from $1.9 billion, and earnings per diluted share rose to $3.04 from $2.62 a year ago.
The company plans to increase its quarterly dividend by 17% to 82 cents from 70 cents per share, beginning in the first quarter this year.
For fiscal 2025, American Express expects revenue growth between 8% and 10% and earnings per share to range between $15 and $15.50.
- Barry Adams
- 24 Jan, 2025
- New York City
Wall Street indexes were little changed in Friday's trading as investors reviewed the latest batch of mixed earnings and debated the future rate path amid resurgent inflation.
The S&P 500 index gained 0.04%, and the Nasdaq Composite advanced 0.2%, and investors looked ahead to the Federal Reserve's rate decisions next week.
The Federal Reserve is widely anticipated to hold rates steady at the end of its two-day policy meeting ending on January 29.
Investors are looking forward to the Fed's estimates on inflation, GDP, and the jobless rate for 2025.
Despite positive market enthusiasm on Wall Street, inflationary forces are expected to remain strong in 2025, largely because of the steady increase in services prices and a rebound in energy prices from a lower base in the previous year.
The Federal Reserve may be forced to keep higher interest rates for longer, and odds are rising that the central bank may be forced to consider an increase in rates in the second half.
Investors reacted to a fresh batch of mixed earnings from leading companies, including results from Boeing Company, CSX, Union Pacific, American Airlines, Texas Instruments, and Ericsson.
U.S. Indexes and Treasury Yields
The S&P 500 index gained 0.06% to 6,122.03, the Nasdaq Composite rose 0.2% to 20,056.97, and the Russell 2000 index edged up 0.5% to 2,314.60.
The yield on 2-year Treasury notes edged lower to 4.29%, 10-year Treasury notes dropped to 4.63%, and 30-year Treasury bonds inched up to 4.88%.
WTI crude oil increased $0.39 to $75.02 a barrel, and natural gas prices edged lower by $0.11 to $3.85 a thermal unit.
Gold increased by $20.17 to 2,774.81 an ounce, and silver edged up by $0.20 to $30.67.
The dollar index, which weighs the US currency against a basket of foreign currencies, eased by 0.48 to 107.63 and traded at a two-year high.
U.S. Stock Movers
Boeing Company declined 1% to $176.66 after the aviation company released preliminary fourth-quarter results.
CSX Corp. decreased 4.2% to $32.25 after the railroad operator reported weaker-than-expected revenue in the fourth quarter.
Texas Instruments decreased 4.9% to $191.28 after the advanced semiconductor company's current quarter earnings outlook disappointed some investors.
Twilio Inc. jumped 20% to $136.13 after the cloud communication software services provider estimated strong revenue growth in the years ahead.
The company also announced a $2 billion stock repurchase plan, supported by rising earnings and free cash flow.
American Express increased 1% to $324.90 after the charge card company posted record revenue in 2024.
- Barry Adams
- 24 Jan, 2025
- New York City
Wall Street indexes were little changed in Friday's trading as investors reviewed the latest batch of mixed earnings and debated the future rate path amid resurgent inflation.
The S&P 500 index gained 0.04%, and the Nasdaq Composite advanced 0.2%, and investors looked ahead to the Federal Reserve's rate decisions next week.
The Federal Reserve is widely anticipated to hold rates steady at the end of its two-day policy meeting ending on January 29.
Investors are looking forward to the Fed's estimates on inflation, GDP, and the jobless rate for 2025.
Despite positive market enthusiasm on Wall Street, inflationary forces are expected to remain strong in 2025, largely because of the steady increase in services prices and a rebound in energy prices from a lower base in the previous year.
The Federal Reserve may be forced to keep higher interest rates for longer, and odds are rising that the central bank may be forced to consider an increase in rates in the second half.
Investors reacted to a fresh batch of mixed earnings from leading companies, including results from Boeing Company, CSX, Union Pacific, American Airlines, Texas Instruments, and Ericsson.
U.S. Stock Movers
Boeing Company declined 1% to $176.66 after the aviation company released preliminary fourth-quarter results.
CSX Corp. decreased 4.2% to $32.25 after the railroad operator reported weaker-than-expected revenue in the fourth quarter.
Texas Instruments decreased 4.9% to $191.28 after the advanced semiconductor company's current quarter earnings outlook disappointed some investors.
Twilio Inc. jumped 20% to $136.13 after the cloud communication software services provider estimated strong revenue growth in the years ahead.
The company also announced a $2 billion stock repurchase plan, supported by rising earnings and free cash flow.
American Express increased 1% to $324.90 after the charge card company posted record revenue in 2024.
- Inga Muller
- 24 Jan, 2025
- Frankfurt
European markets lacked direction in Friday's trading but logged strong weekly gains ahead of rate decisions next week.
The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85.
The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.
Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.
Fourth-quarter sales increased 1% to SEK 72.9 billion from SEK 71.9 billion, net income rose 43% to SEK 4.9 billion from SEK 3.4 billion, and diluted earnings per share jumped to SEK 1.44 from SEK 1.02 a year ago.
Network sales grew by 4% to SEK 46.8 billion despite a currency negative impact; cloud software and services sales declined by 1% to SEK 19.5 billion, and enterprise sales dropped by 9% to SEK 6.1 billion.
Sales in Southeast Asia, Oceania, and India plunged by 38%, following a record year in 2023, and sales in Northeast Asia declined by 22% due to fewer investments in some 5G frontrunner markets.
Cash flow from operating activities rose to SEK 17.5 billion from SEK 14.5 billion, while cash from investing and financing activities remained negative.
Free cash flow after mergers and acquisitions increased to SEK 15.7 billion from SEK 12.2 billion a year ago.
Ericsson expects to pay dividends on April 1 and October 2 to shareholders on record by March 27 and September 29, 2025.
4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue increase in 2024.
Revenue is expected to rise 3% to $1.37 billion from $1.33 billion; profit before tax is expected to increase to $153 million from $141 million a year ago, surpassing the upper range of analyst projections.
Gross profit margin has remained strong at around 32%, driven by a 5% rise in customer orders, although new orders were down 9% from the prior year.
Excluding a $20 million investment to expand the Oshkosh apparel distribution center, 4imprint expects unaudited cash and bank deposits to rise to $148 million from $105 million a year ago.
Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.
Revenue dropped 7% to £659 million from £706 million, and overall comparable store sales fell 4%.
Comparable sales in the Asia-Pacific region decreased 9%, and in Europe, the Middle East, India, and Africa, they fell 2%, but in the Americas, comparable sales rose 4%.
Second-half results will broadly offset the first-half adjusted operating loss, the company said in a statement.
Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.
Sales in fiscal year 2024 increased 7.2% to CHF 7.4 billion from CHF 6.9 billion; net income rose 21% to CHF 1.09 billion from CHF 893 million, and earnings per share rose to CHF 118.2 from CHF 96.81 a year ago.
Operating cash flow surged 18.4% to CHF 1.62 billion, driven by a 10.5% increase in fragrance and beauty sales and taste and wellbeing sales up 4.1% from the previous year.
Sales growth was highest in South Asia, the Middle East, and Africa, as well as in Latin America, while in Asia Pacific the company recorded an 8.8% growth compared to a loss of 2.6% last year.
In North America, sales increased 5.5% from a loss of 7.5% last year.
On March 20, 2025, Givaudan’s board will propose a cash dividend of CHF 70.00 per share, an increase of 2.9% versus 2023.
This is the twenty-fourth consecutive dividend increase since the company was listed on the Swiss stock exchange in 2000.
Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.
Sales declined to €1.65 billion from €1.73 billion; net income rose to €119 million from €59 million, and earnings per share jumped to €0.91 from €0.44 a year ago.
Signify management proposed a cash dividend of €1.56 per share for 2024, to be approved by the company's board on April 25, 2025.
The company’s stock repurchase program is worth €350 million to €450 million of shares until the end of 2027.
- Inga Muller
- 24 Jan, 2025
- Frankfurt
European markets lacked direction in Friday's trading but logged strong weekly gains ahead of rate decisions next week.
The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85.
The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.
Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.
Fourth-quarter sales increased 1% to SEK 72.9 billion from SEK 71.9 billion, net income rose 43% to SEK 4.9 billion from SEK 3.4 billion, and diluted earnings per share jumped to SEK 1.44 from SEK 1.02 a year ago.
Network sales grew by 4% to SEK 46.8 billion despite a currency negative impact; cloud software and services sales declined by 1% to SEK 19.5 billion, and enterprise sales dropped by 9% to SEK 6.1 billion.
Sales in Southeast Asia, Oceania, and India plunged by 38%, following a record year in 2023, and sales in Northeast Asia declined by 22% due to fewer investments in some 5G frontrunner markets.
Cash flow from operating activities rose to SEK 17.5 billion from SEK 14.5 billion, while cash from investing and financing activities remained negative.
Free cash flow after mergers and acquisitions increased to SEK 15.7 billion from SEK 12.2 billion a year ago.
Ericsson expects to pay dividends on April 1 and October 2 to shareholders on record by March 27 and September 29, 2025.
4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue increase in 2024.
Revenue is expected to rise 3% to $1.37 billion from $1.33 billion; profit before tax is expected to increase to $153 million from $141 million a year ago, surpassing the upper range of analyst projections.
Gross profit margin has remained strong at around 32%, driven by a 5% rise in customer orders, although new orders were down 9% from the prior year.
Excluding a $20 million investment to expand the Oshkosh apparel distribution center, 4imprint expects unaudited cash and bank deposits to rise to $148 million from $105 million a year ago.
Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.
Revenue dropped 7% to £659 million from £706 million, and overall comparable store sales fell 4%.
Comparable sales in the Asia-Pacific region decreased 9%, and in Europe, the Middle East, India, and Africa, they fell 2%, but in the Americas, comparable sales rose 4%.
Second-half results will broadly offset the first-half adjusted operating loss, the company said in a statement.
Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.
Sales in fiscal year 2024 increased 7.2% to CHF 7.4 billion from CHF 6.9 billion; net income rose 21% to CHF 1.09 billion from CHF 893 million, and earnings per share rose to CHF 118.2 from CHF 96.81 a year ago.
Operating cash flow surged 18.4% to CHF 1.62 billion, driven by a 10.5% increase in fragrance and beauty sales and taste and wellbeing sales up 4.1% from the previous year.
Sales growth was highest in South Asia, the Middle East, and Africa, as well as in Latin America, while in Asia Pacific the company recorded an 8.8% growth compared to a loss of 2.6% last year.
In North America, sales increased 5.5% from a loss of 7.5% last year.
On March 20, 2025, Givaudan’s board will propose a cash dividend of CHF 70.00 per share, an increase of 2.9% versus 2023.
This is the twenty-fourth consecutive dividend increase since the company was listed on the Swiss stock exchange in 2000.
Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.
Sales declined to €1.65 billion from €1.73 billion; net income rose to €119 million from €59 million, and earnings per share jumped to €0.91 from €0.44 a year ago.
Signify management proposed a cash dividend of €1.56 per share for 2024, to be approved by the company's board on April 25, 2025.
The company’s stock repurchase program is worth €350 million to €450 million of shares until the end of 2027.
- Bridgette Randall
- 24 Jan, 2025
- London
European markets struggled to advance in cautious trading on the final trading day of the week as attention shifted to central banks actions next week.
The European Central Bank and the U.S. Federal Reserve are set to announce their rate decisions next week, and policymakers are likely to consider heightened geopolitical tensions.
The European Central Bank is expected to lower its policy rates by 25 basis points, and investors are hoping that the central bank will signal additional possibilities of additional rates in the near future.
The Federal Reserve is widely anticipated to hold the Fed Funds rate range unchanged amid worries about the resurgent inflation driven in part by higher tariffs on imported goods.
Benchmark indexes in Paris, Frankfurt, Milan, and London meandered after private sector activities in the eurozone unexpectedly expanded in January.
The HCOB Eurozone Composite PMI increased to 50.2 in January from 49.6 in the previous month, S&P Global noted in the monthly survey released on Friday.
The expansion in activities was driven by the sustained increase in service sector activities to 51.4 from 51.6, but manufacturing activities continued to shrink, but at a slower pace, 46.1 from 45.1 in December, respectively.
For the week, the DAX index gained 2.7%, the CAC-40 index advanced 3%, and the FTSE 100 index rose 0.3%.
Europe Indexes and Yields
The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85.
The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.
The euro edged up to $1.05; the British pound inched up to $1.24; and the U.S. dollar weakened to 90.55 Swiss cents.
Brent crude increased $0.36 to $78.65 a barrel, and the Dutch TTF natural gas rose by €0.17 to €49.91 per MWh.
Europe Stock Movers
Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.
4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue rise in 2024.
Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.
Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.
Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.
- Bridgette Randall
- 24 Jan, 2025
- London
European markets struggled to advance in cautious trading on the final trading day of the week as attention shifted to central banks actions next week.
The European Central Bank and the U.S. Federal Reserve are set to announce their rate decisions next week, and policymakers are likely to consider heightened geopolitical tensions.
The European Central Bank is expected to lower its policy rates by 25 basis points, and investors are hoping that the central bank will signal additional possibilities of additional rates in the near future.
The Federal Reserve is widely anticipated to hold the Fed Funds rate range unchanged amid worries about the resurgent inflation driven in part by higher tariffs on imported goods.
Benchmark indexes in Paris, Frankfurt, Milan, and London meandered after private sector activities in the eurozone unexpectedly expanded in January.
The HCOB Eurozone Composite PMI increased to 50.2 in January from 49.6 in the previous month, S&P Global noted in the monthly survey released on Friday.
The expansion in activities was driven by the sustained increase in service sector activities to 51.4 from 51.6, but manufacturing activities continued to shrink, but at a slower pace, 46.1 from 45.1 in December, respectively.
For the week, the DAX index gained 2.7%, the CAC-40 index advanced 3%, and the FTSE 100 index rose 0.3%.
Europe Indexes and Yields
The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85.
The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.
The euro edged up to $1.05; the British pound inched up to $1.24; and the U.S. dollar weakened to 90.55 Swiss cents.
Brent crude increased $0.36 to $78.65 a barrel, and the Dutch TTF natural gas rose by €0.17 to €49.91 per MWh.
Europe Stock Movers
Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.
4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue rise in 2024.
Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.
Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.
Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.
- Akira Ito
- 24 Jan, 2025
- Tokyo
Stock market indexes in Tokyo lacked direction in Friday's trading after the Bank of Japan raised rates as expected.
The Nikkei 2225 stock average and the TOPIX decreased after investors reviewed the latest inflation update.
BoJ Hikes Rates to Highest Since 2008
The Bank of Japan raised its short-term rates by 25 basis points to 0.5%, the third increase in rates since the central bank ended its negative rate policy in March 2024.
The rate-setting committee approved increasing rates in an 8-1 vote, confirming strong support for the rate action.
The central bank also signaled additional rate hikes and indicated that policymakers are ready to reduce monetary support to the economy.
The central bank also raised its core inflation outlook to 2.7% from its previous outlook of 2.5% in October and to 2.4% in fiscal 2025 and 2.0% in fiscal 2026.
Policymakers lowered their fiscal 2024 GDP growth outlook to 0.5% from the previous estimate of 0.6%, but the central bank held its growth estimate for fiscal 2025 at 1.1% and for fiscal 2026 at 1.0%.
The Japanese yen edged lower to 155.68 against the U.S. dollar after the Bank of Japan raised its policy rates.
Consumer Price Inflation Accelerated Second Month In December
Consumer price inflation accelerated to 3.6% in December from 2.9% in the previous month, according to the estimate released by the Ministry of Internal Affairs & Communications on Friday.
The consumer price inflation advanced at the fastest pace since January 2023, driven by a 6.4% jump in food prices.
Higher costs of housing, transportation, and recreation also added to the upward price pressures.
The core rate of inflation, which excludes energy prices only, rose to a 16-moth high of 3.0% from 2.7% in November.
Japan Stock Movers
The Nikkei 225 Stock Average decreased by 0.07% to 39,931.98, and the broader TOPIX decreased 0.03% to 2,751.04.
For the week, the Nikkei 225 stock average rose 2.8%, and the TOPIX advanced 1.7%.
Sumitomo Mitsui Financial Group declined 0.5% to ¥3,750.0, Mitsubishi UFJ Financial Group was unchanged at ¥1,907.0, and Mizuho Financial Group added 0.8% to ¥3,986.0.
- Akira Ito
- 24 Jan, 2025
- Tokyo
Stock market indexes in Tokyo lacked direction in Friday's trading after the Bank of Japan raised rates as expected.
The Nikkei 2225 stock average and the TOPIX decreased after investors reviewed the latest inflation update.
BoJ Hikes Rates to Highest Since 2008
The Bank of Japan raised its short-term rates by 25 basis points to 0.5%, the third increase in rates since the central bank ended its negative rate policy in March 2024.
The rate-setting committee approved rates in an 8-1 vote, citing strong support the rate action.
The central bank also signaled additional rate hikes and indicated that policymakers are ready to reduce monetary support to the economy.
The central bank also raised its core inflation outlook to 2.7% from its previous outlook of 2.5% in October and to 2.4% in fiscal 2025 and 2.0% in fiscal 2026.
Policymakers lowered their fiscal 2024 GDP growth outlook to 0.5% from the previous estimate of 0.6%, but the central bank held its growth estimate for fiscal 2025 at 1.1% and for fiscal 2026 at 1.0%.
The Japanese yen edged lower to 155.68 against the U.S. dollar after the Bank of Japan raised its policy rates.
Consumer Price Inflation Accelerated Second Month In December
Consumer price inflation accelerated to 3.6% in December from 2.9% in the previous month, according to the estimate released by the Ministry of Internal Affairs & Communications on Friday.
The consumer price inflation advanced at the fastest pace since January 2023, driven by a 6.4% jump in food prices.
Higher costs of housing, transportation, and recreation also added to the upward price pressures.
The core rate of inflation, which excludes energy prices only, rose to a 16-moth high of 3.0% from 2.7% in November.
Japan Stock Movers
The Nikkei 225 Stock Average decreased by 0.07% to 39,931.98, and the broader TOPIX decreased 0.03% to 2,751.04.
For the week, the Nikkei 225 stock average rose 2.8%, and the TOPIX advanced 1.7%.
Sumitomo Mitsui Financial Group declined 0.5% to ¥3,750.0, Mitsubishi UFJ Financial Group was unchanged at ¥1,907.0, and Mizuho Financial Group added 0.8% to ¥3,986.0.
- Li Chen
- 24 Jan, 2025
- Hong Kong
Stock market indexes in China and Hong Kong advanced after Beijing stepped up measures to bolster stock markets.
The Hang Seng index gained 1.6%, and the mainland-focused CSI 300 index advanced 0.8% after the People's Bank of China held its medium-term lending rate steady.
China's central bank held its one-year medium-term lending facility rate steady at 2%, meeting the market expectations.
The China Securities Regulatory Commission urged investment and insurance companies to increase their exposure to onshore stocks for the second day in a row.
Insurance companies are required to invest about 30% of premiums received from new policies into the stock market starting this year, according to a directive released by the regulator on Thursday.
China Stock Movers
The Hang Seng index increased 1.6% to 20,023.69, and the mainland-focused CSI 300 index added 0.8% to 3,832.86.
For the week, the CSI 300 index was nearly unchanged, and the Hang Seng index gained 1.2%.
Electric vehicle makers were in focus after the three leading companies filed a legal case against the European Commission related to its anti-dumping subsidies on the Chinese makers.
BYD increased 1.3% to HK $274.20, Li Auto Inc. advanced 2.6% to HK $89.60, and Geely Auto increased 2.2% to HK $14.46.
Nongfu Spring Co. Ltd. gained 3.5% to HK $35.10 after the company's founder, Zhong Shanshan, vowed to end the price war after a year of aggressive price cuts and personal attacks.
Avic Yishang Warehouse advanced 10% to 2.95 yuan on the first day of trading in Shanghai after the company completed its initial public offering.
E Fund Huawei Farmers shot up 25% to 3.55 yuan after the company completed its initial public offering and listed its stock on the Shenzhen stock exchange.
- Li Chen
- 24 Jan, 2025
- Hong Kong
Stock market indexes in China and Hong Kong advanced after Beijing stepped up measures to bolster stock markets.
The Hang Seng index gained 1.6%, and the mainland-focused CSI 300 index advanced 0.8% after the People's Bank of China held its medium-term lending rate steady.
China's central bank held its one-year medium-term lending facility rate steady at 2%, meeting the market expectations.
The China Securities Regulatory Commission urged investment and insurance companies to increase their exposure to onshore stocks for the second day in a row.
Insurance companies are required to invest about 30% of premiums received from new policies into the stock market starting this year, according to a directive released by the regulator on Thursday.
China Stock Movers
The Hang Seng index increased 1.6% to 20,023.69, and the mainland-focused CSI 300 index added 0.8% to 3,832.86.
For the week, the CSI 300 index was nearly unchanged, and the Hang Seng index gained 1.2%.
Electric vehicle makers were in focus after the three leading companies filed a legal case against the European Commission related to its anti-dumping subsidies on the Chinese makers.
BYD increased 1.3% to HK $274.20, Li Auto Inc. advanced 2.6% to HK $89.60, and Geely Auto increased 2.2% to HK $14.46.
Nongfu Spring Co. Ltd. gained 3.5% to HK $35.10 after the company's founder, Zhong Shanshan, vowed to end the price war after a year of aggressive price cuts and personal attacks.
Avic Yishang Warehouse advanced 10% to 2.95 yuan on the first day of trading in Shanghai after the company completed its initial public offering.
E Fund Huawei Farmers shot up 25% to 3.55 yuan after the company completed its initial public offering and listed its stock on the Shenzhen stock exchange.