Australia's Viva Energy slips 11% on drop in convenience sales
The stock fell up to 11.4% to A$1.94, the lowest since June 10, and was set for its biggest single-day percentage loss since late February.
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Reuters
25 minutes ago
- Reuters
UK equities mixed as investors assess slew of corporate earnings, US-EU trade deal
July 29 (Reuters) - London's main stock indexes were mixed on Tuesday as investors assessed a spate of mixed corporate updates as well as the fallout from the newly signed U.S.-EU trade deal. The benchmark FTSE 100 (.FTSE), opens new tab rose 0.4% as of 0934 GMT, while the domestically focused midcap FTSE 250 index (.FTMC), opens new tab was down 0.3%. Healthcare stocks (.FTNMX201030), opens new tab led the sectoral gains, up 1.8%, with AstraZeneca (AZN.L), opens new tab rising 2.8% after the drugmaker beat second-quarter revenue and profit expectations. Chemical stocks (.FTNMX552010), opens new tab lost 2.5%, dragged down by Croda International (CRDA.L), opens new tab, which fell 5.1% after the chemical company reported first-half sales below estimates. Industrial miners (.FTNMX551020), opens new tab lost 1%, tracking lower copper prices. Glencore (GLEN.L), opens new tab and Anglo American (AAL.L), opens new tab fell 2.4% and 1.2% respectively. Among other corporate updates, Games Workshop (GAW.L), opens new tab surged 6.3%, to top the FTSE 100 index, after the miniature wargames maker reported a nearly 30% jump in annual pre-tax profit. Entain (ENT.L), opens new tab rose 1.4% after the company's U.S. sports-betting joint venture with MGM Resorts (MGM.N), opens new tab called BetMGM raised its full-year 2025 revenue and core earnings forecast. Inchcape (INCH.L), opens new tab lost 9.6%, top loser on the FTSE 250 midcap index, after the car distributor reported a 4% drop in first-half adjusted pre-tax profit at constant currency. Greggs (GRG.L), opens new tab fell 4.9% after reporting a 14% fall in first-half profit. A survey showed British shop prices rose by the most in more than a year in the 12 months to July and food prices grew more strongly. The Bank of England is expected to cut borrowing costs on August 7 for the fifth time since August last year. Meanwhile, investors weighed the impact of a new 15% levy on most European Union goods, which is significantly higher than pre-2025 levels. Ahead of the August 1 tariff deadline, U.S. President Donald Trump said a blanket 15% to 20% "world tariff" rate would be extended toward trading partners who do not negotiate separate trade deals with the U.S. Top U.S. and Chinese economic officials resumed their trade talks for a second day in Stockholm to resolve economic disputes, while seeking to extend the previous tariff truce by three months.
Reuters
25 minutes ago
- Reuters
UnitedHealth forecasts annual profit below estimates
July 29 (Reuters) - UnitedHealth on Tuesday reinstated full-year profit forecast that it pulled over two months ago, but its guidance fell short of analysts' already-lowered expectations, as the U.S. health insurer battles rising costs in its government-backed plans. The company (UNH.N), opens new tab, which has seen a series of setbacks this year, also missed Wall Street expectations for second-quarter earnings. The results show the scale of the challenges UnitedHealth's new CEO Stephen Hemsley is facing after being restored to the role in May following the abrupt resignation of incumbent Andrew Witty. Its shares fell 5% in premarket trading after the company said its new forecast reflects expectations for higher realized and anticipated care trends. UnitedHealth suspended its 2025 forecast in May, a historic first for the insurer, citing higher-than-anticipated medical expenditures, which have also rattled its peers. The company on Tuesday forecast annual profit of at least $16 per share, lower than its previous expectation of $26 to $26.50 per share. Analysts on average were expecting a profit of $20.91 per share, per LSEG data. The healthcare conglomerate reiterated that it expects to return to earnings growth in 2026. The company's adjusted second-quarter profit of $4.08 per share missed analysts' average estimate of $4.48.
Reuters
an hour ago
- Reuters
Wall Street futures rise as focus shifts to major earnings, Fed meeting
July 29 (Reuters) - U.S. stock index futures edged higher on Tuesday as investors awaited earnings reports from a number of companies and the Federal Reserve's policy meeting that starts later in the day. At 05:19 a.m. ET, Dow E-minis were up 73 points, or 0.16%, S&P 500 E-minis were up 15.25 points, or 0.24%, and Nasdaq 100 E-minis were up 93.25 points, or 0.4%. The moves follow record closing highs for the S&P and the Nasdaq on Monday in volatile trading after the U.S. struck a trade agreement with the European Union, while the Dow remained just about 200 points short of an all-time high. The U.S.-EU deal, announced on Sunday, halved EU import tariffs to 15% and bolstered expectations that more such agreements will follow ahead of President Donald Trump's looming August 1 deadline. Trump on Monday flagged a 'world tariff' of 15-20% for countries that were not negotiating a deal. Expectations were high for a potential breakthrough in U.S.-China negotiations after officials from both sides met in Stockholm on Monday to resolve longstanding economic disputes as the two economies look to extend a truce by three months. Tuesday also marks a busy day for corporate earnings, with results expected from top companies such as UnitedHealth (UNH.N), opens new tab, Boeing (BA.N), opens new tab, UPS (UPS.N), opens new tab and Procter & Gamble (PG.N), opens new tab before the bell. Earnings from tech heavyweights Meta (META.O), opens new tab, Microsoft (MSFT.O), opens new tab, Amazon (AMZN.O), opens new tab and Apple (AAPL.O), opens new tab are scheduled for later this week, which could test Wall Street's record run. The U.S. central bank is set to begin its two-day policy meeting later in the day. While the Fed is expected to leave rates unchanged on Wednesday, traders will closely analyze policymakers' remarks to gauge the timing of future moves. According to the CME FedWatch tool, markets are pricing in a 61.7% chance of a rate cut in September. The meetings come amid the White House's campaign on the central bank to lower borrowing costs, including Trump's persistent criticism of Fed Chair Jerome Powell and occasional suggestions to remove him from his position. Meanwhile, investors will parse the U.S. Job Openings and Labor Turnover Survey (JOLTS) report for June, as well as the consumer confidence figure for July later in the day. Among earnings-related moves, Cadence Design (CDNS.O), opens new tab jumped 6.6% in premarket trading after the chip design software provider raised its annual sales and profit forecast.
