Market Pulse - Europe
Tesla announces plans to cut 400 jobs in Germany
Tesla is set to trim around 400 positions at its German gigafactory near Berlin, it emerged on Tuesday, accounting for 3% of the factory's total workforce.
Europe close: Stocks rise as investors digest PMI data
European markets closed above the waterline on Tuesday, propelled by positive survey data from the eurozone that bolstered investor sentiment.
Expanded use of Cosentyx drug sees Novartis raise expectations
Swiss pharmaceutical giant Novartis raised its full-year guidance Tuesday after beating expectations in its first quarter.
Galp shares surge on news from Namibia's Mopane field
Shares in Portuguese oil company Galp Energia popped on Monday, after it announced completion of the initial exploration phase in the Mopane field, offshore Namibia, revealing the potential presence of a substantial oil reserve of at least 10 billion barrels.
Europe close: Stocks finish higher as dollar slips
European markets showed resilience on Thursday, bolstered by a surge in eurozone construction activity.
Europe close: Stocks down for a second week on geopolitics, volatility gauge rockets
Stocks on the Continent ended the session on a mixed note and with investors nursing a second consecutive week of losses.
Societe Generale sells Moroccan unit to Saham Group
French bank Societe Generale has agreed to sell the majority of its Moroccan arm to Saham Group for €745. 0m as it forges ahead with chief executive Slawomir Krupa's plan to streamline the business.
Europe close: Stocks slip even after ECB opens door to June rate cut
European stock markets were in the red amid the ongoing uncertainty surrounding the interest-rate outlook in the U. S.
Eurozone construction PMI drops to 42.4 in March
Hamburg Commercial Bank's Eurozone construction purchasing managers index dropped to 42. 4 in March, down from a reading of 42. 9 in February.
German factory orders rise 0.2% in February
German factory orders rose by 0. 2% month-on-month in February, according to the Federal Statistical Office, missing estimates for a 0. 8% jump but recovering from January's revised 11. 4% tumble - the steepest fall since April 2020.
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.