Market Pulse - Europe
Citi, Barclays set to trim investment banking headcounts
Banking giants Barclays and Citigroup were reportedly gearing up to trim their investment banking workforce, it emerged on Thursday, amid a slowdown in dealmaking activity within the sector.
Eurozone construction output increases in January
Eurozone construction output increased 0. 5% in January, according to preliminary reports from Eurostat.
Logitech shares slide on surprise CFO departure
Swiss computer accessories giant Logitech surprised markets on Monday, announcing that chief financial officer Charles Boynton would depart in May, having served in the role for just over a year.
Europe close: EU markets deliver mixed performance
European markets delivered a mixed performance on Friday while LPP Group shares were suspended after short seller Hindenburg Research claimed the Polish retailer’s Russian divestments were a "sham", causing the stock to plunge.
Adidas FY sales fall short of estimates
German sportswear giant Adidas reported full-year results that fell short of estimates on Wednesday as a result of the loss of its very profitable Yeezy line following the cessation of its long-running collaboration with Kanye West.
Ryanair cuts back schedule amid Boeing 737 MAX delays
Ryanair confirmed further setbacks in its aircraft delivery schedule on Friday, after Boeing announced a reduced number of 737 MAX-8200 deliveries.
Ryanair blames Boeing as it revises down passenger forecasts
Ryanair revised down its passenger forecasts and warned of possible flight cancellations over the upcoming summer season on Monday, blaming Boeing over worsening delays in aircraft deliveries.
Danone confident after reporting rise in full-year sales
French food multinational Danone reported a 7% jump in full-year net sales on a like-for-like basis in its 2023 results on Thursday, to €27. 62bn.
German economy now likely in recession - Bundesbank
Germany's Bundesbank warned on Monday that Europe's largest economy was now likely in recession, with external demand weak, consumers remaining cautious, and domestic investment being held back by high borrowing costs.
Commerzbank posts strongest performance in 15 years
German banking giant Commerzbank reported its strongest financial performance in 15 years on Thursday, buoyed by a significant increase in net profit driven by high interest rates.
Airbus proposes special dividend, reports strong FY earnings
Aerospace corporation Airbus declared a special dividend on Thursday as it detailed a strong set of full-year results, with order intake and adjusted underlying earnings both increasing in the twelve months ended 31 December.
Continental to cut 7,150 jobs amid global EV transition
German automotive supplier Continental revealed plans to cut 7,150 jobs worldwide by 2025 on Wednesday.
Eurozone industrial output rises unexpectedly, employment holds steady
Eurozone manufacturing rose unexpectedly in December, according to fresh data released on Wednesday, suggesting a revitalisation of industrial output alongside stable employment growth.
Societe Generale confident despite fall in full-year revenue
French banking giant Societe Generale reported full-year revenue of €25. 1bn in its results on Thursday, down 7. 6% year-on-year.
Eurozone retail sales fall 1.1% in December
Eurozone retail sales fell 1. 1% month-on-month in December, according to European Union statistics agency Eurostat, capping off a tough twelve months for consumers.
Novartis to take over MorphoSys in EUR 2.7bn deal, shares jump
Shares in German oncology biopharmaceutical specialist MorphoSys were surging on Tuesday morning, after Swiss pharma giant Novartis announced a deal to acquire it overnight.
Eurozone composite PMI hits six-month high
The Eurozone economy hinted at early indications of recovery during January, according to Hamburg Commercial Bank and S&P Global, with growing inflationary pressures boosting the European Central Bank's case for holding interest rates steady at their current record highs.
Eurozone inflation moves lower in January, despite jump in food prices
Eurozone inflation cooled a tad less than expected at the start of 2024.
ECB stand pat, committed to lowering inflation to 2.0%
Rate-setters in Frankfurt stayed put on policy at their latest policy meeting, but reiterated their determination to return inflation to 2. 0% in timely fashion.
Sanofi to take on lead Inhibrx candidate in $2.2bn deal
Inhibrx announced an agreement with Sanofi on Tuesday, under which Sanofi subsidiary Aventis will acquire all assets and liabilities associated with INBRX-101, a recombinant alpha-1 antitrypsin (AAT) augmentation therapy currently being trialled for alpha-1 antitrypsin deficiency (AATD) treatment.