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☆ Bank of America's guide to the election and stocks that win under Trump or Harris
▼ + stars: | 2024-10-22 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +7 min

Here are some of the ways Bank of America analysts think the upcoming election results could affect the stock market. Harris presidency, split government A victory for Democratic candidate Kamala Harris in the White House, plus a Republican-controlled Congress, could be "the best outcome" for online media companies, according to Bank of America analyst Justin Post. He noted that Harris is likely to enforce a potential ban on TikTok — which could boost Meta Platforms and Snapchat . Trump president, split government A win for Republican candidate Donald Trump and a split government would be the best-case scenario for bank stocks, per analyst Ebrahim Poonawala. On the other hand, a Trump presidency would be viewed positively by gig-economy companies, including Uber and Lyft, according to analyst Post.

Persons: –, Harris, Kamala Harris, Justin Post, Lorraine Hutchinson, Donald Trump's, —, Athletica, Joanna Gajuk, Gajuk, Jessica Reif Ehrlich, Ehrlich, Jason Kupferberg, Kupferberg, Dick Durbin's, Donald Trump, Ebrahim Poonawala, Poonawala, Republicans —, Dimple, Trump, Uber, Craig Siegenthaler, Siegenthaler, Rafe Jadrosich, Trump's, — CNBC's Michael Bloom Organizations: White, Bank of America, of America, Democratic, Republican, Democrat, Department of Justice, Eagle Outfitters, Urban Outfitters ., Health, Tenet Healthcare, Universal Health Services, Democrats, Agilon, Humana, Big Tech, House, Trump, Republicans, Oscar Health, Centene, GOP, Securities, Exchange, Entertainment, Packaging Corporation of America, American Eagle Outfitters Locations: Hutchinson, U.S, China, Washington

☆ Smurfit WestRock CEO: Steady increase in demand since last year's depressed levels
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmurfit WestRock CEO: Steady increase in demand since last year's depressed levelsTony Smurfit, CEO of Smurfit WestRock, says results are currently down because raw material costs have been increasing very sharply in the first half of the year.

Persons: Tony Smurfit, Smurfit WestRock

☆ This timber ETF could be on the verge of a breakout, Wolfe Research says
▼ + stars: | 2024-07-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Analyst Rob Ginsberg said in a July 24 note that the Invesco MSCI Global Timber ETF (CUT) appears to be on the verge of a breakout. "The ETF has carved out a very compelling multi year base and is on the verge of breaking out through $34. The timber ETF closed at $33.56 per share on Wednesday. CUT launched in 2007 and is a relatively small ETF, with about $55 million in assets, according to FactSet. Basic Materials ETF (IYM) is up 0.7% in July, compared to a decline of 0.6% for the S & P 500 .

Persons: Rob Ginsberg, WestRock, — CNBC's Michael Bloom Organizations: Wolfe Research, ETF, Basic Materials

☆ Jim Cramer calls this stock the Buffett bank; warns nothing really new on Netflix
▼ + stars: | 2024-07-09 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Bank of America : Piper Sandler upgraded the stock to neutral from underweight (hold from sell) and raised its price target to $42 per share from $37. "It's becoming the Buffett bank," Jim Cramer said Tuesday ahead of next week's earnings. RH : Stifel started coverage of the company formerly named Restoration Hardware with a buy and a $315-per-share price target. Netflix : Cowen increased its price target on the stock ahead of earnings next week. Smurfit Westrock : Stifel started coverage of the paper-based packaging company with a buy rating and a $65.70-per-share price target.

Persons: Jim Cramer's, Piper Sandler, It's, Jim Cramer, Warren, Berkshire Hathaway, BofA ., Stifel, Gary Friedman, Gary, Cramer, He's, chipmaker, he's, Cowen, There's, it's Organizations: CNBC, Club, Bank of America, Buffett, Berkshire, Intel, Netflix Locations: BofA

☆ Tuesday's rapid fire: BofA, RH, Intel, Netflix, Smurfit Westrock
▼ + stars: | 2024-07-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTuesday's rapid fire: BofA, RH, Intel, Netflix, Smurfit WestrockJim Cramer looks at five stocks outside the CNBC Investing Club portfolio.

Persons: Westrock Jim Cramer Organizations: Intel, Netflix, CNBC, Club

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Meta, Alphabet, Amazon, RH, Netflix & more
▼ + stars: | 2024-07-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Goldman Sachs reiterates Alphabet and Meta as buy Goldman said it's sticking with its buy rating on shares of Alphabet and Meta. Bank of America reiterates Apple as buy Bank of America said its checks show App Store revenue increasing for Apple. KeyBanc reiterates Nvidia as overweight KeyBanc said it's sticking with its overweight rating on Nvidia shares. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla shares. " "We initiate coverage on JMIA with a Buy rating and a PT of $14."

Persons: Goldman Sachs, Goldman, Stifel, Jefferies, TD Cowen, it's, Piper Sandler, Piper, KeyBanc, Raymond James, Exscientia, Cowen, Morgan Stanley, Wolfe, Markel, it's bullish, Robinson, Tesla Organizations: Amazon, Netflix, YouTube, Mobile, Bank of America, " Bank of America, Apple, Nvidia, UBS, Group, Citizens, Investment, Ventures, Mizuho, First Bancorp, of America, JPMorgan, Technologies, Pan Locations: destocking, UW, F3Q, SensorTower, BRX, Puerto Rico, Pan -

☆ Hedge fund manager known for M&A picks reveals a new takeover target
▼ + stars: | 2024-05-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Oil services company Weatherford International is a ripe takeover target, according to Alexander Roepers, founder and chief investment officer at Atlantic Investment, who said the stock is set to soar. The Cambrian Fund at Atlantic Investment is up by about 40% over the past one year. The other two, Univar Solutions and West Rock, were acquired by private equity giant Apollo and Smurfit Kappa , respectively, resulting in significant gains for Atlantic Investment. SMDS-GB 1Y line Atlantic Investment ultimately sold its position, as they believed the company's value was between 450 and 500 pence. When asked about his approach to selling stocks, Roepers emphasized the importance of discipline.

Persons: Alexander Roepers, Weatherford, WFRD, Roepers, Kappa, Smith, I'm Organizations: Weatherford, Atlantic Investment, Schlumberger, Halliburton, London Value Investor Conference, Cambrian Fund, Value, Rheinmetall, Solutions, Investment Locations: Texas, Weatherford, Roepers, Ukraine, Atlantic, British, U.S

☆ Barclays names three global stocks to buy for the next quarter, giving them major upside
▼ + stars: | 2024-03-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Barclays has named three European stocks — Smurfit Kappa , Leroy Seafood and Raiffeisen Bank — for investors to consider buying for the upcoming quarter. 7: Smurfit Kappa Barclays is bullish on paper packaging maker Smurfit Kappa with a £38.30 ($49.10) price target, indicating 16% upside potential. SKG-GB 1Y mountain Leroy Seafood Barclays also highlighted Leroy Seafood Group, a Norwegian seafood company. Raiffeisen Bank Barclays named Raiffeisen Bank International, an Austrian banking group, as another stock to own in the next quarter, giving it an upside potential of 35%. "Strabag deal improves credibility on Russia exit plan," Barclays analyst Krishnendra Dubey said in a note to clients on Mar.

Persons: Kappa, Leroy Seafood, WestRock, Gaurav Jain, Leroy, Krishnendra Dubey Organizations: Barclays, Raiffeisen Bank, U.S, Mar, Smurfit Kappa Barclays, Kappa, Seafood Barclays, Leroy Seafood Group, Raiffeisen Bank Barclays, Raiffeisen Bank International, Raiffeisen, Strabag Locations: London, New York, Norwegian, Austrian, U.S, Russia

During the third quarter, U.S. dealmaking contributed to a larger-than-usual share of global activity and offset a decline in volumes in Europe and Asia Pacific, accounting for about half of global volumes. Deal volumes in Europe and Asia Pacific fell 31% and 9%, respectively. To date, private equity deal volumes have slumped 48% to $313.73 billion, compared to the same period last year. Deal activity driven by activist shareholders was muted as several big-name activists reached settlements with corporate boardrooms. Dealmaking in technology, which typically accounts for the largest share of deal volumes, has fallen 51% so far this year.

Persons: Brendan McDermid, dealmaking, We're, Melissa Sawyer, Sullivan, Cromwell, dealmakers, headwinds, Tony Kim, Roark Capital's, ”, Andre Kelleners, Goldman Sachs, Naveen Nataraj, Kappa, WestRock, it’s, Rob Kindler, Weiss, Garrison, it'll, Anton Sahazizian, Anirban Sen, Timothy Gardner Organizations: REUTERS, Cromwell LLP, Asia Pacific, Investment, U.S . Steel, Centerview Partners, U.S . Investment, Evercore Inc, Cisco, Splunk Inc, Fidelity National Information Services, Reuters, Paul, Moelis, Thomson Locations: New York City, U.S, United States, Europe, Asia, Cleveland, Rifkind, Wharton, New York, London

☆ European listing exodus is just beginning: podcast
▼ + stars: | 2023-09-28 | by ( Aimee Donnellan | ) www.reuters.com time to read: 1 min

LONDON, Sept 28 (Reuters Breakingviews) - Building materials firm CRH and packaging giant Smurfit Kappa are among a growing list of companies seeking to decamp from Europe to US exchanges. In this Viewsroom podcast, Breakingviews columnists discuss what is prompting groups to leave and why the rot is unlikely to ease. Listen to the podcastFollow @aimeedonnellan on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Oliver Taslic Organizations: Reuters, Thomson Locations: decamp, Europe

☆ Smurfit Kappa to Merge With WestRock to Form $20 Billion Paper Powerhouse
▼ + stars: | 2023-09-12 | by ( Ian Walker | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/20-billion-paper-powerhouse-to-be-formed-by-merger-8c1d46b7

Persons: Dow Jones

☆ Smurfit Kappa CEO says Westrock merger is 'fantastic' for shareholders
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmurfit Kappa CEO says Westrock merger is 'fantastic' for shareholdersTony Smurfit, CEO of packaging giant Smurfit Kappa, discusses the company's announcement that they will merge with U.S. peer Westrock.

Persons: Tony Smurfit Organizations: Smurfit Kappa, Kappa

☆ European stocks open higher as positive momentum continues
▼ + stars: | 2023-09-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Paper and packaging businesses Smurfit Kappa and WestRock on Tuesday announced they had agreed to combine. The companies will form Smurfit WestRock, run through a holding company incorporated and domiciled in Ireland, with global headquarters in Dublin, and North and South American operations headquartered in Atlanta, Georgia. It will be led by CEO Tony Smurfit. Shareholders of U.S.-based WestRock will receive one Smurfit WestRock share and $5 cash, equivalent to $43.51 per share. The merger is expected to be completed in the second quarter of 2024, subject to shareholder and regulatory approval.

Persons: Tony Smurfit, Kappa, — Jenni Reid Organizations: Kappa, Tuesday, U.S Locations: Ireland, Dublin, North, American, Atlanta , Georgia

WestRock stockholders will get one share in the new company, called Smurfit WestRock, and $5 in cash for each share they hold, which works out to $43.51 per share, the companies said in a statement. Smurfit Kappa shareholders will receive one new Smurfit WestRock share for each share they hold. That could make the deal more than 20% accretive to Smurfit Kappa's earnings per share, the statement added. Smurfit WestRock will be domiciled in low tax Ireland with its global headquarters in Dublin. Smurfit Kappa will de-list from Euronext Dublin, the latest blow for the Irish bourse as building materials giant CRH prepares to leave later this month.

Persons: WestRock, JP Morgan, Jefferies, Tony Smurfit, Ken Bowles, Irial Finan, Smurfit, Yadarisa, Padraic Halpin, Louise Heavens, Jason Neely Organizations: Kappa, Europe's, JP, Smurfit, Smurfit Kappa, London Stock Exchange, Irish bourse, Thomson Locations: DUBLIN, COVID, South, Central, North America, Europe, Ireland, Dublin, New York, Bengaluru

☆ Morning Bid: Risk and rates moving in tandem
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Or it may just be a series of idiosyncratic news events. Although both stock futures and bond yields edged back a touch again on Tuesday ahead of the bell, the fact they are moving in tandem ahead of a critical week for macro policy is notable. Overseas, European markets held up as this week's European Central Bank meeting is awaited with economists split on its outcome. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Morgan Stanley, Farmer Bros, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Big Tech, Tesla's, Dojo, Apple, chipmaker Qualcomm, Oracle, Reserve, Overseas, Central Bank, HK, Bank of, Smurfit Kappa, Treasury, Cable Corp, Altamira Therapeutics, Lesaka Technologies, Reuters Graphics, Reuters, Thomson Locations: New York City, U.S, China, London, Altamira

☆ Packaging giant Smurfit Kappa's shares fall 11% after WestRock merger announcement
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: +1 min

Shares of Dublin-based packaging group Smurfit Kappa plunged 11% at Tuesday's market open in London after it announced it would combine with U.S. peer WestRock to create an industry juggernaut. The companies will form Smurfit WestRock — set to be one of the largest packaging companies in the world — run through a holding company incorporated and domiciled in Ireland. It will seek a New York listing with a standard listing on the London Stock Exchange. WestRock shareholders will receive one Smurfit WestRock share and $5 cash, equivalent to $43.51 per share. "We identified [Westrock] as an asset that we can develop with and combine with to be an even better asset.

Persons: Kappa, We've, Tony Smurfit, CNBC's Organizations: U.S, London Stock Exchange Locations: Dublin, London, Ireland, York, United States, . London

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Investors await August consumer prices data, due on Wednesday, and producer prices scheduled on Thursday, followed by the Fed's policy decision on Sept. 20. A recent uptick in oil prices and strong economic data have fueled concerns over stubborn inflation, clouding the outlook for an end to U.S. monetary tightening. Investors will also monitor the European Central Bank's policy decision on Thursday, where it is seen holding rates after nine consecutive hikes. ET, Dow e-minis were down 48 points, or 0.14%, S&P 500 e-minis were down 9 points, or 0.2%, and Nasdaq 100 e-minis were down 27.5 points, or 0.18%.

Persons: Carlo Allegri, Wall, Morgan Stanley, BoE, Mohit Kumar, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Kappa, Dow, Nasdaq, Microsoft, Investors, Fed, ECB, Jefferies, Dow e, Oracle, Paramount Global, Amusements, Thomson Locations: New York, U.S, Bengaluru

☆ Stocks making the biggest moves premarket: Oracle, WestRock, Apple and more
▼ + stars: | 2023-09-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Safra Catz, CEO of Oracle Corporation, rings the opening bell at the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. Check out the companies making headlines before the bellOracle – Shares fell 10% before the opening bell after the company posted weaker-than-expected revenue and revenue guidance for the second fiscal quarter. For the recent quarter, the software company reported adjusted earnings of $1.19 per share, versus the $1.15 expected by analysts polled by LSEG. Apple – The stock inched higher before the bell ahead of the technology giant's eagerly anticipated iPhone launch event beginning at 1 p.m. Casey's General Stores – The retail stock added more than 4% in the premarket after topping earnings expectations for the recent quarter.

Persons: Safra Catz, giant's, Geron, Goldman Sachs Organizations: Oracle Corporation, New York Stock Exchange, Oracle, LSEG . Revenue, Smurfit Kappa, Kappa, Apple, Bank of America, Casey's, FactSet . Revenue Locations: New York City, U.S, Dublin

Smurfit Kappa and WestRock will join to create a global packaging company with a value of almost $20 billion. WestRock shareholders will receive $5 in cash and one share in the new company, called Smurfit WestRock, for each WestRock share that they own. Smurfit Kappa stockholders will receive one share in the new company for each Smurfit Kappa share. Smurfit WestRock will be incorporated and domiciled in Ireland, with global headquarters in Dublin, Ireland, where Smurfit Kappa is based. Irial Finan, the chairman at Smurfit Kappa, will be chair of the company and Ken Bowles, chief financial officer at Smurfit Kappa, will serve as CFO of Smurfit WestRock.

Persons: WestRock, Smurfit, Tony Smurfit, Irial Finan, Ken Bowles, Smurfit WestRock Organizations: Kappa, West Pharmaceutical, Smurfit Kappa, Smurfit, European Union, New York Stock Exchange Locations: Europe, U.S, Brazil, Mexico, Ireland, Dublin, Atlanta

☆ Stocks making the biggest moves midday: Oracle, WestRock, Apple, Advance Auto Parts and more
▼ + stars: | 2023-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oracle — Shares dipped more than 12% a day after the software company posted disappointing earnings and revenue guidance for its fiscal second quarter. Oracle's revenue, which came in at $12.45 billion, was weaker than the $12.47 billion forecast by analysts. WestRock — The stock rose 4.8% following news that the paper and packaging company will go through with a merger with Smurfit Kappa. The Wall Street firm said shares may be oversold after the company experienced a temporary outage on its payment processor Square. Elsewhere, Morgan Stanley reiterated its overweight call on Exxon, saying the company was a top pick in its category.

Persons: WestRock, Wolfe, Baird, Goldman Sachs, Corinne Jenkins, Morgan Stanley, Yun Li, Samantha Subin, Hakyung Kim, Lisa Kailai Han, Jesse Pound, Pia Singh, Brian Evans Organizations: New York Stock Exchange, Oracle, LSEG, Smurfit Kappa, Apple —, Casey's, FactSet, Health, P Global, BBB, CVS, Bank of America, Goldman, Food, Drug, Exxon Mobil —, U.S, Texas, Exxon Locations: U.S

☆ Stocks making the biggest moves premarket: Apple, WestRock, McDonald's and more
▼ + stars: | 2023-09-07 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Apple — Apple shares fell more than 2.6% after Bloomberg News reported China is planning to extend a ban on iPhone use to state-owned corporations. The company generated 60 cents per share profit on $542 million of revenue. The company called for an operating loss of $27 million to $40 million, while analysts polled by StreetAccount anticipated a loss of $20.5 million. Verint Systems — The analytics company lost 16.2% in premarket trading after Verint's second-quarter earnings and revenue fell short of expectations. Verint posted adjusted earnings of 48 cents per share, while analysts polled by FactSet forecast 57 cents per share.

Persons: Buster's, LSEG, Wells, ChargePoint, StreetAccount, Roku, Verint, Macheel, Jesse Pound Organizations: Apple, Bloomberg News, Street Journal, Bros, Dave, ChargePoint Holdings, LSEG, Europe's, Kappa, Systems, FactSet, Revenue Locations: China

☆ Stocks making the biggest moves midday: ChargePoint Holdings, Seagate Technology, C3.ai and more
▼ + stars: | 2023-09-07 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Seagate Technology — Seagate Technology shares dropped about 10.9% after Barclays downgraded the stock to equal weight form overweight. ChargePoint Holdings — Shares of ChargePoint Holdings plunged 10.9% after the electric vehicle charging infrastructure company missed fiscal second-quarter revenue estimates. ChargePoint posted $150 million in revenue, weaker than the $153 million forecast by analysts polled by LSEG, formerly known as Refinitiv. Meanwhile, C3.ai reported an adjusted fiscal first-quarter loss of 9 cents per share on revenue of $72.4 million. Verint Systems — Shares plunged 19.4% in midday trading after the analytics company reported weaker-than-expected second-quarter earnings and revenue.

Persons: Rollins —, ChargePoint, LSEG, StreetAccount, Roku, —, Alex Harring, Yun Li, Pia Singh Organizations: Europe's, Kappa, Wall Street, GameStop, Wall, — Semiconductor, Lam Research, Devices, Qualcomm, Nvidia, Intel, Apple, Bloomberg, Street Journal, Technology, Wednesday, Seagate Technology, Barclays, ChargePoint Holdings, LSEG, Buster's Entertainment, Loop Locations: China

☆ Paper company WestRock nears deal to merge with Smurfit Kappa - WSJ
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

Sept 6 (Reuters) - WestRock (WRK.N) is nearing a deal to merge with Europe's Smurfit Kappa (SKG.I), a move that could create a global paper and packaging giant worth around $20 billion, the Wall Street Journal reported on Wednesday. The merger could be announced next week, if the talks don't fall apart, WSJ reported, citing people familiar with the matter. WestRock and Smurfit Kappa did not immediately respond to Reuters requests for a comment. Reporting by Pratyush Thakur in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Kappa, Pratyush Thakur, Shailesh Organizations: Kappa, Wall Street, Thomson Locations: Bengaluru

☆ UK's FTSE 100 opens lower after surprise U.S. credit rating cut sours mood
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File PhotoSummaryCompanies FTSE 100 down 0.8%, FTSE 250 off 0.6%Aug 2 (Reuters) - UK's FTSE 100 opened lower on Wednesday, as global risk sentiment took a hit after ratings agency Fitch cut the United States' credit rating, while BAE Systems shares jumped after the defence company raised its full-year guidance. By 0709 GMT, the bluechip FTSE 100 index (.FTSE) fell 0.8%, touching a two week low, while the more domestically-focussed FTSE 250 midcap index (.FTMC) lost 0.6%. BAE Systems (BAES.L) added 4.7% after Britain's biggest defence company upgraded its guidance for 2023, forecasting annual earnings per share would grow 10-12%. ConvaTec Group (CTEC.L) jumped 4.0% after the technology firm raised its full-year guidance.

Persons: Toby Melville, Fitch, Shashwat Chauhan, Rashmi Organizations: London Stock Exchange Group, City of, REUTERS, BAE Systems, AAA, Smurfit Kappa, ConvaTec, Thomson Locations: City, City of London, Britain, United States, London, Bengaluru

If they start to reverse, then you'll see things reversing for next year, but we have to wait and see," he said. Slashing prices also reflects stiffening competition in some markets as companies struggle with waning consumer demand and households tighten budgets. Kraftliner prices, up 60 euros per tonne in the first half, have since fallen by 120 euros a tonne. Europe's gas rollercoasterWAGES AND BORROWING COSTSSome companies won't make cuts though, as they protect margins or face higher wages and borrowing costs. "It does signal a retreat in operating margins for firms like Smurfit, hence the negative reaction in the share price this morning," he said.

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