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☆ European shares reverse gains as investors focus on inflation
▼ + stars: | 2022-10-19 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

SummarySummary Companies STOXX 600 reverses early gainsUK inflation hits 10.1% in SeptemberASML posts upbeat earningsOct 19 (Reuters) - European shares reversed early gains on Wednesday, as investors fretted about runaway inflation and aggressive monetary policy tightening, even as upbeat corporate earnings soothed some fears about a recession. The region-wide STOXX 600 index (.STOXX) was down 0.5%, snapping a rally this week that was mainly driven by hopes of a better-than-expected earnings season and the UK's fiscal policy reversal. read more"Earnings numbers (are) all good but global inflation, macro events are going to take precedent," said Michael Baker, head of online services at Oval Money. read moreNestle (NESN.S) raised its full-year sales outlook, but the company's CEO raised concerns about the "challenging economic environment" affecting consumers' purchasing power. read moreSartorius (SATG.DE) dropped 13.9% after the German lab equipment maker said it expected 2022 revenue to reach the lower half of its outlook.

A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. The group last posted an underlying profit in the second half of 2020, said Clement Genelot, analyst at Bryan Garnier. Shares in the company see-sawed in early trade as investors weighed the return to profitability against concerns about falling orders. As part of the cost cutting measures, Groen said the company has introduced a hiring freeze. Just Eat is looking to expand its networks to include deliveries of other products and is currently exploring a number of pilot schemes, Groen said.

A Just Eat delivery man rides his bicycle in Nice amid the coronavirus disease (COVID-19) outbreak in France, February 16, 2021. REUTERS/Eric Gaillard/File PhotoOct 19 (Reuters) - Just Eat Takeaway.com (TKWY.AS), Europe's largest meal delivery company, said on Wednesday it made an underlying profit in the third quarter, sooner than expected, after cutting expenses on delivery costs and operations. The group said in September it expected to have positive earnings before interest, taxes, depreciation and amortisation (EBITDA) in the second half of the year. The company will hold an extraordinary shareholders meeting on Nov. 18 to vote on the deal worth $1.8 billion, it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Diana Mandiá and Dagmarah Mackos; editing by Josephine Mason and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

The Supreme Court’s decision overturning Roe v. Wade creates new challenges for employers and health insurers covering abortion services, especially whether and how to pay for travel to states where the procedure remains available. Companies including Starbucks Corp., Uber Technologies Inc. and Amazon.com Inc. have said they would reimburse travel for medical services including abortion. Just Eat Takeaway.com N.V.’s Grubhub and Dick’s Sporting Goods said they would provide up to $4,000 to cover expenses traveling for services not available in their home state.

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