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☆ Investors spy value in cheap Finnish stocks after China and Russia pain
▼ + stars: | 2023-11-29 | by ( Danilo Masoni | ) www.reuters.com time to read: +4 min

Finnish stocks are Europe's biggest laggards this year, as risks stemming from tensions with Russia and concerns over China's stuttering recovery have hurt its exporters. The top 25 stocks in Helsinki are worth a combined $150 billion. The OMX Helsinki 25 (.OMXH25) has lost 10% this year, versus the STOXX 600's (.STOXX) 8% rally. "Finnish stocks are attractively valued and a lot of bad news is priced in," Alava said. "If the European economy recovers in 2024 as I expect, Finnish cyclical stocks should recover too... this could be a good time for long-term investors to increase holdings".

Persons: Finland's, Tomas Hildebrandt, EVLI, Hilderbrant, Hertta Alava, Henrik Ehrnrooth, Schindler, Nordea's Alava, LSEG, Danilo Masoni, Christina Fincher Organizations: OMX Helsinki, STOXX, Nordic, Novo Nordisk, Deutsche Bank, NATO, Russia, Zurich, Otis, Metsa Board, Thomson Locations: Russia, Helsinki, Finland, Europe, China, Ukraine, U.S, French, OMX Helsinki, Alava

Miniatures of windmill and electric pole are seen in front of Siemens Gamesa logo in this illustration taken January 17, 2023. One Frankfurt-based trader said the investor event, where Siemens Gamesa disclosed around 400 million euros in cost cuts by 2026, was bringing "no new insights". At 1610 GMT, shares in Siemens Energy, in which Siemens AG (SIEGn.DE) owns a direct 25.1% stake, were still down 6.3%. Siemens Gamesa will likely cut onshore turbine capacity outside Europe and outsource the production of some components, the division's Chief Executive Jochen Eickholt said, outlining the group's restructuring roadmap. Reuters last month reported that Siemens Gamesa was considering shutting plants and sales offices as well as outsourcing some production.

Persons: Dado Ruvic, Siemens Gamesa, Christian Bruch, Jochen Eickholt, Eickholt, Christoph Steitz, Tom Kaeckenhoff, Danilo Masoni, Madeline Chambers, Miranda Murray, David Evans Organizations: Siemens, REUTERS, Siemens Energy, Siemens Gamesa, Siemens AG, Reuters, Thomson Locations: Europe, FRANKFURT, DUESSELDORF, Frankfurt

Money market traders are betting September's hike was the last, with almost 90 basis points of rate cuts priced by the end of 2024. European shares underperforming their U.S. counterparts was a common expectation amongst the survey's European respondents as the robust American economy looks more likely to achieve a 'soft landing' than Europe. European shares are much cheaper than those in the U.S., possibly reflecting the worse economic outlook. The STOXX Europe 600 trades at over 12 times 12-month forward earnings, a 35.6% discount to the S&P 500 (.SPX). "Still, as the broader economic slowdown takes hold of the continent's markets, we expect to see a rather challenging second half of 2024."

Persons: Chris Beauchamp, Thomas Monteiro, Germany's DAX, Fiona Cincotta, Cincotta, Investing.com's Monteiro, Monteiro, Samuel Indyk, Danilo Masoni, Pranoy Krishna, Rahul Trivedi, Sarupya Ganguly, Jason Neely Organizations: IG, European Central Bank, ECB, Investing.com, FTSE, Bank of England, Thomson Locations: Europe, Germany, riskier, U.S, Bengaluru

☆ Siemens Energy shares down 11% as investor day underwhelms
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsMILAN, Nov 21 (Reuters) - Germany's Siemens Energy (ENR1n.DE) shares turned sharply lower on Tuesday to fall as much as 11%, with traders citing profit taking as the company held its capital markets day (CMD). The shares have risen 80% from October's record low after the group said it was in talks with the German government about state guarantees following big setbacks at its wind unit, Siemens Gamesa. On Tuesday, Siemens Energy said Siemens Gamesa plans to cut costs by around 400 million euros ($436.28 million). ($1 = 0.9168 euros)Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado, Danilo Masoni, Amanda Cooper Organizations: Siemens Energy, REUTERS, Germany's Siemens Energy, CMD, Siemens, Thomson Locations: Frankfurt

☆ Global dividends slide in Q3 as miners drag
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 15 (Reuters) - Global dividends fell 0.9% to $421.9 billion in the third quarter due to lower special dividends and a small number of corporations making large cuts to investor remuneration, a report showed on Wednesday. Janus said total dividends were slightly better than expected in the quarter despite lower one-off special payouts and exchange rate effects. "Special dividends have decreased, reflecting less M&A activity and the disappearance of windfall profits in sectors like mining," he added. The largest cuts to payouts were made by Brazilian oil group Petrobras (PETR4.SA) and Australian miner BHP (BHP.AX). More than half of mining companies reduced their payouts while 89% of companies overall raised their dividends or held them during the period, the report said.

Persons: Janus Henderson, Janus, Ben Lofthouse, Banks, Danilo Masoni, Elaine Hardcastle Organizations: MILAN, Petrobras, PETR4, BHP, Chemicals, China Construction Bank Corp, China Mobile, HK, Thomson Locations: Brazil, Taiwan, Czech, Asia, PetroChina, Europe

☆ World stocks scale 2-month high boosted by rate cuts bets
▼ + stars: | 2023-11-15 | by ( Danilo Masoni | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 20, 2023. The British consumer price index rose by 4.6% in the 12 months to October, slowing from September's 6.7% increase, the Office for National Statistics said. He sees a "more complicated" process ahead, where stock market exuberance eventually collides with bond market expectations that an economic slowdown will drive rate cuts. The dollar index , which measures the currency against a basket of peers, stood at 104.17, not far from Tuesday's two-month low of 103.98. Interest rate futures swung to price in an interest rate cut by the U.S. Federal Reserve as early as May, with a 30% chance it could come even sooner, in March.

Persons: May MILAN, Carlo Franchini, Naka, Russell, Joe Biden, Xi Jinping, Sterling, Danilo Masoni, Tom Westbrook, Alex Richardson Organizations: REUTERS, Staff, Bank of England, Banca Ifigest, National Statistics, CPI, Nasdaq, U.S . Federal Reserve, Bloomberg News, Golden, HSBC, Brent, Thomson Locations: Frankfurt, Germany, United States, Europe, Asia, China, Milan, Ukraine, Italy, France, Tokyo, San Francisco, London, CHINA, Pacific, Japan, Hong Kong, Beijing, Shanghai, Singapore

☆ UniCredit CEO Orcel's 'bank of Europe' ambition tough to realise
▼ + stars: | 2023-11-14 | by ( Valentina Za | ) www.reuters.com time to read: +6 min

However, his aspirations to make UniCredit the "bank of Europe" are proving trickier to realise with the CEO setting a high bar for mergers and acquisitions in the euro zone's fractured capital markets, despite having what he describes as the biggest war chest among European lenders. UniCredit bought Greece's 9% stake in Alpha Bank (ACBr.AT) and struck a commercial partnership with the Athens-based lender, also acquiring most of its Romanian operations. The CEO works closely with a small M&A team he set up within UniCredit which constantly reviews potential deals in the markets and businesses where the bank operates, people with knowledge of the matter said. But uneven regulation across the euro zone, where progress towards a single banking market has stalled, complicates cross-border deals. Calling on Europe to follow his lead, Orcel says he has unlocked UniCredit's potential by giving it a unified strategy across its 13 markets.

Persons: Andrea Orcel, Merrill Lynch, Orcel, He's, Cole Smead, ALPHA Orcel, Siena, UniCredit, Smead, Jean, Pierre Mustier's, Mustier, it's, Carlo Franchini, Danilo Masoni, Kirsten Donovan Organizations: Discount, MILAN, UBS, Smead Capital Management, Fund, ALPHA, Banco, Alpha Bank, Alpha, Banca Ifigest, Thomson Locations: buybacks, Europe, Arizona, Ukraine, Athens, HVB, Berlin, Milan

☆ Take Five: That rate cut trade
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Nov 10 (Reuters) - Markets are keen to trade rate cuts and big central banks are pushing back, shining a new light on upcoming data in that tug of war. Traders, anticipating roughly three quarter-point Fed rate cuts next year, will now turn their attention to Tuesday's inflation data to confirm their view on the outlook. A sharper cooling could fan the peak rate talk, fuelled by October's employment report, which pointed to an easing in labor markets. Reuters Graphics Reuters Graphics3/ ONCE BITTENThe robust dollar suddenly appears vulnerable to the push and pull in the market's Fed rate cut bets. The data could also help justify, or challenge, recent remarks from BoE chief economist Huw Pill that mid-2024 could be the time for rate cuts.

Persons: Brendan McDermid, Lewis Krauskopf, Kevin Buckland, Danilo Masoni, Alun John, Dhara, Jerome Powell, Ping, Powell, Rishi Sunak, Sunak, BoE, Huw Pill, Sumanta Sen, Pasit, Riddhima Talwani, Prinz Magtulis, Jayaram, Dhara Ranasinghe, Tomasz Janowski Organizations: New York Stock Exchange, REUTERS, Traders, Reuters, Beijing, Reuters Graphics Reuters, Bank of England, Thomson Locations: New York City, U.S, China, New York, Tokyo, Milan, London, Washington, September's, Germany, Europe, ITALY, Italy

☆ Inside Turkey’s ‘hidden’ ski world
▼ + stars: | 2023-11-09 | by ( Rob Hodgetts | ) edition.cnn.com time to read: +10 min

In winter, moist air from the Black Sea mixes with cold mountain air to produce plentiful powder snow at altitude from January to April. “It was probably my best day’s skiing ever.”Apres ski here is low key, with hot baths, games of table tennis or massages. On bad weather days, alternative activities include skiing from the snowcat, snow shoeing or ski touring. The Kaçkar mountains could soon be on the world ski map, and not just for heli-skiing. “We will be very happy if, one day, there is a ski resort in Ayder,” says Gasser.

Persons: he’d, Thierry Gasser, Gasser, “, Danilo Garin, “ It’s, ”, Oliver Evans, you’ve, You’ve, Evans, they’re, Georg, Yann clambered, Dany, “ You’re, Jeremy Jones, Recep Tayyip Erdoğan Organizations: CNN, heli, Air, Turkish Locations: Swiss, Kyrgyzstan, Turkey, Europe, Russian Caucasus, Uzbekistan, India, Canada, Alaska, Turkey’s, Georgia, Verbier, Ayder, London, Air Zermatt, Switzerland, “, Italy, Istanbul, Rize, Trabzon, Ayder . Swiss, British Columbia, France, Germany, Austria, Sweden, New Zealand, USA, American

West Ham lost 2-1 away to the Greek side a fortnight ago but their win at the London Stadium put them level on nine points with second-placed Freiburg, who crushed bottom side Backa Topola 5-0. "If I was being honest, I don’t think we made enough chances or opportunities and I need to look to see why that was the case," West Ham manager David Moyes said. The West Ham fans then held their breath late on as the visitors nearly equalised when Mady Camara's close-range header struck the post when he should have scored. Marseille secured a second victory with their win in Athens thanks to goals from Chancel Mbemba and Ismaila Sarr. The Italians are unbeaten in Group D on 10 points, three ahead of Sporting who beat 10-man Rakow Czestochowa 2-1.

Persons: Ham United's Lucas Paqueta, Said Benrahma, Emerson Palmieri, Vladimir Coufal, Isabel Infantes, David Moyes, Paqueta, James Ward, Prowse, Mady Camara's, Mbemba, Sarr, Jarell Quansah, Alexis Mac Allister, Klopp, Atalanta, Berat Djimsiti, Pedro Goncalves, Bogdan Racovitan, Danilo Pereira, Todd Cantwell, Janina Nuno Rios, Tommy Lund, Ed Osmond, Ken Ferris Organizations: Soccer, Europa League, Ham United, Olympiacos, London, REUTERS, Olympiakos Piraeus, Olympique de Marseille, AEK Athens, West Ham, Backa, Olympiakos, Marseille, Ligue, Brighton & Hove Albion, Ajax Amsterdam, LIVERPOOL, Liverpool, French, Toulouse, Sturm Graz, Berat, Sporting, Rangers, Sparta Prague, Real Betis, Aris Limassol, Betis, Thomson Locations: London, Britain, Freiburg, Ham, Athens, European, Czestochowa

☆ NBA roundup: Nikola Jokic, Nuggets edge Warriors
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +9 min

Michael Porter Jr. added 17 points while Aaron Gordon finished with 14 points and 11 rebounds for Denver, which swept a four-game homestand. 1 draft pick Victor Wembanyama each had 14 points for the Spurs, who have lost three straight. Brandon Ingram scored 24 points on 11-for-25 shooting and rookie Jordan Hawkins added 14 points for the Pelicans, who lost their third straight game. Bobby Portis had 18 points for the Bucks, and Brook Lopez added 14, including a pivotal 3-pointer in the late going. Scottie Barnes contributed 14 points, 14 rebounds, seven assists and four steals.

Persons: Chris Paul, Nikola Jokic, Isaiah J, Downing, Reggie Jackson, Michael Porter Jr, Aaron Gordon, Stephen Curry, Klay Thompson, Draymond, Gary Payton II, Jamal Murray, Joel Embiid, Tyrese Maxey, Tobias Harris, Kelly Oubre Jr, Kristaps Porzingis, Derrick White, Jayson Tatum, Porzingis, Domantas, Malik Monk, Jerami Grant, Monk, Sabonis, Grayson Allen, Kevin Durant, Jusuf Nurkic, Nurkic, Bradley Beal, Bam Adebayo, Adebayo, Miami's Tyler Herro, Jaren Jackson Jr, Herro, Jackson, Kyle Kuzma, Charlotte, Danilo Gallinari, Delon Wright, LaMelo Ball, Gordon Hayward, Green, Alperen Sengun, Sengun, Anthony Davis, Rui Hachimura, Aaron Nesmith, Myles Turner, Bennedict Mathurin, Tyrese Haliburton, Jordan Clarkson, Lauri Markkanen, Julius Randle, Randle, Jalen Brunson, RJ Barrett, Jeremy Sochan, Malaki Branham, Victor Wembanyama, Wembanyama, Lonnie Walker IV, James Harden, Walker, Cam Thomas, Royce O'Neale, Paul George, Harden, Anthony Edwards, Karl, Anthony Towns, Rudy Gobert, Brandon Ingram, Jordan Hawkins, Damian Lillard, Giannis Antetokounmpo's, Bobby Portis, Brook Lopez, Antetokounmpo, Isaiah Stewart, Cade Cunningham, Marcus Sasser, Pascal Siakam, Dennis Schroder, Scottie Barnes, Luka Doncic, Kyrie Irving, Tim Hardaway Jr, Shai Gilgeous, Alexander, Caris LeVert, Evan Mobley, Donovan Mitchell, Mitchell Organizations: Golden State Warriors, Denver Nuggets, Ball, USA, NBA, Denver, Warriors, 76ers, Celtics, Philadelphia, Boston, Sixers, Milwaukee Bucks, Trail Blazers, Sacramento, The, Blazers, Suns, Bulls, Chicago, Phoenix, Grizzlies, Miami, Los Angeles Lakers, Hornets, Washington, Wizards, Rockets, Lakers, Houston, Angeles, Pacers, Jazz, Utah, Knicks, Spurs, New, San, Nets, Clippers, Brooklyn, Timberwolves, Pelicans, Minnesota, Bucks, Pistons, Milwaukee, Detroit, Raptors, Mavericks, Toronto, Dallas, Cavaliers, Oklahoma City, Thomson Locations: Denver , Colorado, USA, Portland, Durant, Memphis, Los Angeles, Indiana, Indianapolis, New York, San Antonio, Philadelphia, New Orleans, Minneapolis, Cleveland

That has left Italian equities overall more cheaply valued than even battered UK shares (.dMIGB00000PUS), which are trading at a 33% discount to global peers. Goldman Sachs estimates that each 10 bps rise in sovereign spreads takes around 2% off Italian bank shares and 1.5% off the FTSE MIB index. Conflict in Ukraine and in the Middle East meanwhile threaten to spark a fresh surge in energy prices and weaken growth. UniCredit shares are up almost 80% this year and among the best performing euro zone banking shares. Fidelity International portfolio manager Alberto Chiandetti, said he was chasing opportunities in battered industrials and consumer sectors in the FTSE Italia Star index.

Persons: Claudia Greco, Chris Hiorns, Fitch, Goldman Sachs, Giuseppe Sersale, Andrea Scauri, Lemanik, Scauri, LSEG, Alberto Chiandetti, Joice Alves, Danilo Masoni, Dhara Ranasinghe, Toby Chopra Organizations: REUTERS, Companies, LONDON, Barclays, European Commission, FTSE Italia Star, Anthilia, Banco, Fidelity International, FTSE, Thomson Locations: Milan, Silicon, Italy, Companies Italy, MILAN, Germany, Ukraine, iShares, Europe, dei, London

☆ Investors deliver harshest punishment for earnings warnings in 16 years
▼ + stars: | 2023-10-27 | by ( Lucy Raitano | ) www.reuters.com time to read: +4 min

Barclays (BARC.L), a big UK lender, fell as much as 8% after signalling major cost cuts because of weakness on its home turf. Mark Denham, head of European equities at Carmignac, said high quality companies with high valuations tend to be very vulnerable if they miss earnings. According to Kasper Elmgreen, CIO at Nordea Asset Management, the fact that the economy is now starting to slow is one factor behind investors' harsh treatment of earnings disappointments. Amid the volatility, some investors see a buying opportunity in overly punished stocks. It is an example of a highly valued stock being extra punished for the environment," Denham said.

Persons: Morgan Stanley, Angelo Meda, Mark Denham, Denham, Kasper Elmgreen, Elmgreen, Fabio Di Giansante, Carmignac's Denham, Danilo Masoni, Alun John, Joice Alves, Amanda Cooper, Hugh Lawson Organizations: Sanofi, Barclays, Banor SIM, Siemens Energy, Volkswagen, Volvo, Asset Management, Euroland Equity, pharma, Thomson Locations: Milan, Swiss, London

☆ Bruce Brown shines in Pacers debut, leads win over Wizards
▼ + stars: | 2023-10-26 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/63] Oct 25, 2023; Indianapolis, Indiana, USA; Washington Wizards forward Kyle Kuzma (33) dribbles the ball while Indiana Pacers forward Jalen Smith (25) defends in the first quarter at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-USA TODAY Sports Acquire Licensing RightsOctober 26 - Bruce Brown drilled a career-high six 3-pointers to highlight his 24-point performance, lifting the Indiana Pacers to a 143-120 victory over the Washington Wizards in the teams' season opener on Wednesday in Indianapolis. Wizards forward Kyle Kuzma scored 25 points in his first game since signing a four-year, $90 million contract in the offseason. Hield sank a step-back 3-pointer to begin the fourth quarter and Aaron Nesmith, Brown and Mathurin each added another to push the Pacers' lead to 128-105. Poole's driving layup staked the Wizards to a 26-19 lead with 3:35 remaining in the first quarter before Indiana turned on the jets.

Persons: Kyle Kuzma, Jalen Smith, Trevor Ruszkowski, Bruce Brown, Brown, Tyrese Haliburton, Bennedict Mathurin, Buddy Hield, Myles Turner, Andrew Nembhard, Washington's Jordan Poole, Tyus Jones, Danilo Gallinari, Isaiah Jackson, Hield, Aaron Nesmith Organizations: Washington Wizards, Indiana Pacers, Gainbridge Fieldhouse, Pacers, Indiana, Washington, Thomson Locations: Indianapolis , Indiana, USA, Gainbridge, Indianapolis, Washington, Indiana, Haliburton

[1/3] The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. The broader European banking index (.SX7P) fell as much as 2.4% to its lowest in four months by 1017 GMT. Top fallers on the index were Standard Chartered, down 9%, Swedbank (SWEDa.ST), down 7% and BNP Paribas (BNPP.PA), down around 4%. Concerns about China's economic fragility are also hitting some European banks with major operations in Asia. Sabadell (SABE.MC) rose around 3.7% after raising its outlook for 2023 net interest income growth on the back of higher interest rates.

Persons: Peter Nicholls, Chris Hiorns, Banks, Hiorns, Angelo Meda, Meda, Iain Withers, Naomi Rovnick, Joice Alves, Jesus Aguado, Danilo Masoni, Amanda Cooper, John Stonestreet, Toby Chopra Organizations: Chartered, REUTERS, BNP, European Central Bank, Traders, SIM, Sabadell, Thomson Locations: London, Britain, LONDON, Milan, Asia, Madrid

☆ Barclays downgraded by BofA on restructuring uncertainty
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

A Barclays sign is seen outside a branch of the bank in London, Britain, February 23, 2017. REUTERS/Stefan Wermuth/File Photo Acquire Licensing RightsMILAN, Oct 26 (Reuters) - BofA Global Research downgraded Barclays (BARC.L) to underperform on Thursday, citing uncertainty over the UK bank's restructuring and near-term risks to capital distributions. "A potential material, but unspecified, restructuring charge to deliver unspecified benefits over an unspecified time period adds to uncertainty about Barclays strategy and financial target," wrote analysts at the U.S. bank. Barclays on Tuesday said it would embark on another restructuring round in the coming months to mitigate the effects of margin pressure from competition in the savings market and another lacklustre performance from its investment bank. Barclays shares have lost over 17% so far in 2023 and on Thursday, were down 1.3%, in their seventh straight daily fall.

Persons: Stefan Wermuth, Danilo Masoni, Amanda Cooper Organizations: Barclays, REUTERS, Research, Corporate & Investment Bank, Thomson Locations: London, Britain, underperform, U.S

☆ Barclays shares slide for second day
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

A Barclays sign is seen outside a branch of the bank in London, Britain, February 23, 2017. REUTERS/Stefan Wermuth/File Photo Acquire Licensing RightsLONDON, Oct 25 (Reuters) - Barclays shares (BARC.L) fell by as much as 2.4% in early trading on Wednesday, briefly on course for their biggest two-day drop since turmoil engulfed the global banking sector in March. On Tuesday, shares in Barclays closed down 6.5% after the company indicated it would embark on another restructuring round in the coming months to deal with the effects of margin pressure from competition in the savings market and another lacklustre performance from its investment bank. By 0705 GMT, Barclays shares were down 0.4% on the day, narrowly above Tuesday's seven-month low. Reporting by Amanda Cooper; Editing by Danilo MasoniOur Standards: The Thomson Reuters Trust Principles.

Persons: Stefan Wermuth, Amanda Cooper, Danilo Masoni Organizations: Barclays, REUTERS, Thomson Locations: London, Britain

☆ Atos shares slide, trader points to possible French nationalisation plans
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

The logo of Atos is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. According to the reports, two lawmakers - Olivier Marleix from the conservative Les Republicans and Socialist Philippe Brun - both have lodged amendments to France's 2024 budget law for a partial state takeover of Atos, citing national security concerns. The move had a negative impact on the share's trading value on Monday, one trader told Reuters. Over the last two years, Atos shares had lost almost 80% of their value. Reporting by Danilo Masoni, Michal Aleksandrowicz, writing by Tassilo HummelOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Les Echos, Olivier Marleix, Socialist Philippe Brun, Atos, Danilo Masoni, Michal Aleksandrowicz, Tassilo Hummel Organizations: REUTERS, Rights, Le Parisien, National Assembly, Les Republicans, Socialist, Atos, Reuters, Thomson Locations: Villepinte, Paris, France

☆ Germany's Volkswagen shares tumble after margin downgrade
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

The logo of German carmaker Volkswagen is seen on a rim cap in a showroom of a Volkswagen car dealer in Brussels, Belgium July 9, 2020. REUTERS/Francois Lenoir/File Photo Acquire Licensing RightsOct 23 (Reuters) - Volkswagen (VOWG_p.DE) shares fell to their lowest since April 2020 on Monday after the German carmaker cut its profit margin outlook for the current year, disappointing some investors. Volkswagen kept its outlook for deliveries and sales. Volkswagen shares fell 2.9% in Frankfurt by 0732 GMT, leading fallers across the European auto sector (.SXAP), which was down 0.5%. Reporting by Danilo Masoni, editing by Alun JohnOur Standards: The Thomson Reuters Trust Principles.

Persons: Francois Lenoir, Danilo Masoni, Alun John Organizations: Volkswagen, REUTERS, Thomson Locations: Brussels, Belgium, Frankfurt

☆ London stock exchange sees first trading halt in 4 years; blue chips spared
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - The London Stock Exchange (LSE) (LSEG.L) was forced to halt trading in smaller stocks on Thursday after an incident disrupted activity, although blue chip shares suffered no interruptions. London Stock Exchange Group (LSEG) said FTSE 100 (.FTSE), FTSE 250 (.FTMC) and International Order Book securities - those shares listed in London by overseas companies - were operating normally. The FTSE 100 closed down 1.2% on the day. In 2019, the London Stock Exchange suffered an almost two-hour outage that hit FTSE 100 and midcap stocks, which LSEG said was caused by a “technical software issue”.

Persons: Toby Melville, LSEG, Fiona Cincotta, Thomson, Akanksha, Huw Jones, Harry Robertson, Alun John, Joice Alves, Amanda Cooper, Danilo Masoni, Kirsten Donovan, Susan Fenton Organizations: London Stock Exchange Group, City of, REUTERS, London Stock Exchange, LSE, FTSE, Traders, Reuters, City, Thomson Reuters, Thomson Locations: City, City of London, Britain, London, LSEG, Bengaluru, Milan

☆ AstraZeneca shares fall as abstract for lung cancer trial data disappoints
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

A company logo is seen at the AstraZeneca site in Macclesfield, Britain, May 11, 2021. REUTERS/Phil Noble/File Photo Acquire Licensing RightsOct 18 (Reuters) - Shares in AstraZeneca (AZN.L) fell more than 4% on Wednesday after the publication of an abstract on its experimental precision drug's use in lung cancer in a late-stage trial disappointed some analysts. The abstract was published ahead the European Society for Medical Oncology's (ESMO) congress that kicks off in Madrid on Friday. By 1219 GMT, AstraZeneca shares were dwon 3.7% in London, while the broader STOXX Health Care (.SXDP)index was off 1%. Reporting by Danilo Masoni and Maggie FickOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Noble, Danilo Masoni, Maggie Fick Organizations: AstraZeneca, REUTERS, European Society for Medical, Thomson Locations: Macclesfield, Britain, Madrid, London

☆ AstraZeneca shares fall as lung cancer drug trial data abstract disappoints
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsOct 18 (Reuters) - Shares in AstraZeneca (AZN.L) fell more than 4% on Wednesday after a data abstract on its experimental precision drug's use in lung cancer patients in a late-stage trial disappointed some analysts. Fernandez added that progression-free survival in lung cancer patients came in below expectations. Barclays analyst Emily Field also said in a note that safety looked better than expected for lung cancer patients and the data abstracts were "collectively positive" for AstraZeneca. London-listed shares of AstraZeneca were down 3.7% at 1219 GMT, while the broader STOXX Health Care (.SXDP) index was off 1%. Shares of AstraZeneca's Japanese partner Daiichi Sankyo (4568.T), which is jointly developing the cancer drug, closed 4.6% lower on Tuesday.

Persons: Phil Noble, datopotamab deruxtecan, Jefferies, Stephen Barker, Barker, Seamus Fernandez, Fernandez, Emily Field, GSK's, Danilo Masoni, Maggie Fick, Bhanvi, Shinjini Organizations: AstraZeneca, REUTERS, European Society for Medical, Friday, Guggeinheim, Barclays, AstraZeneca ., Thomson Locations: Macclesfield, Britain, Madrid, AstraZeneca . London, U.S, Milan, London, Bengaluru

☆ Sika shares slide after EU raids companies over price-fixing suspicions
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

The logo of Swiss chemical group Sika is seen at the company's headquarters in Zurich, Switzerland October 7, 2021. REUTERS/Arnd Wiegmann Acquire Licensing RightsCompanies Sika AG FollowZURICH, Oct 17 (Reuters) - Shares in Swiss construction chemicals maker Sika (SIKA.S) fell as much as 7.4% on Tuesday after the European Commission announced antitrust raids at unnamed construction chemicals companies. Sika later confirmed that investigations had taken place in connection with a suspicion of price fixing. The European Commission said it was carrying out unannounced antitrust inspections in the construction chemicals sector in several member states, as it suspected companies of anti-competitive behaviour. Sika shares closed down 5.45% in Zurich, while the broader SMI index (.SSMI) fell 0.69%.

Persons: Arnd, Sika, Danilo Masoni, Oliver Hirt, Dhara Ranasinghe, Paul Simao Organizations: REUTERS, European Commission, European Union, Turkish, Thomson Locations: Zurich, Switzerland, Milan

☆ Jeff Bezos just added yet another property to his 'Billionaire Bunker' collection after snapping up a 7-bedroom mansion for $79 million: report
▼ + stars: | 2023-10-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Amazon founder Jeff Bezos just bought a $79 million mansion in Indian Creek, Florida, per Bloomberg. Indian Creek is a village on a small private island in Miami's Biscayne Bay known as "Billionaire Bunker." AdvertisementAdvertisementAmazon founder Jeff Bezos has added another lavish mansion to his property portfolio. The waterfront property was listed for $85 million in May and last sold for $28 million in 2014. Indian Creek, where Bezos' new property purchase is located, is a village on a small private island in Miami's Biscayne Bay.

Persons: Jeff Bezos, —, Dina Goldentayer, Danilo Tavares, Douglas Elliman, Tavares, Bezos, Insider's Sarah Jackson, Jordan Hart, Insider's Hannah Towey, Carl Icahn, Jared Kushner, Ivanka Trump Organizations: Bloomberg, Service, Bezos, Zillow Locations: Indian Creek , Florida, Biscayne, Goldentayer, Beverly, Texas, Medina , Washington

Oct 9 (Reuters) - Shares in U.S. and European-listed companies with business exposure to Israel fell on Monday on worries that an escalation in conflict with Palestinian Islamist group Hamas would impact their operations. Wall Street opened lower, while European stocks dipped as surging oil prices fanned inflation worries and investors fled to the safety of government bonds and the dollar. U.S. shares of Israeli chipmaker Tower Semiconductor fell 5.2%, while Intel (INTC.O) dipped 1.1% and Nvidia (NVDA.O) 2.1%, dragging the chip sector lower. U.S.-listed shares of Israel's Teva Pharmaceutical (TEVA.TA), the world's largest generic drugmaker, fell 3.3%, while those in fertilizer group ICL Group (ICL.TA) dipped 1.4%. U.S. exchange-traded funds exposed to Israel such as the iShares MSCI Israel ETF and the ARK Israel Innovative Technology ETF fell 6.6% and 4.4%, respectively.

Persons: Benjamin Netanyahu, Raffi Boyadjian, Energean, Adani Ports, Danilo Masoni, Sruthi Shankar, Amanda Cooper, Deborah Kyvrikosaios, Arun Koyyur Organizations: Palestinian, Semiconductor, Intel, Nvidia, Energy, Tel Aviv ., U.S, Cruise Line Holdings, Royal Caribbean Group, XM, Israel's, ICL, ARK Israel Innovative Technology, Adani, Thomson Locations: Israel, Tel Aviv, Saudi Arabia, Gaza, London, India, Adani, Haifa Port, Northern Israel

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