
Metlen's Shares Gain in London Debut After Shift From Athens
The firm's shares closed at €48.68 ($56.269) in London on Monday, 3.2% higher than the Athens-listed stock's closing price of €47.16 on Friday. Metlen, with a market capitalization of more than €6 billion, did not raise any new funds with the listing.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
34 minutes ago
- Yahoo
German economic sentiment tumbles as EU–US trade deal underwhelms
Germany's economic sentiment fell sharply in August, snapping a three-month recovery and casting renewed doubts over the country's growth outlook. The decline follows a controversial EU–US trade deal that has disappointed financial experts and left key industrial sectors exposed to steeper tariff burdens. The ZEW Indicator of Economic Sentiment dropped by 18 points to 34.7 in August, falling well short of expectations for a more modest retreat to 40. This reverses part of the strong recovery seen in July, when sentiment had climbed to its highest since February 2022. The gauge for current conditions also deteriorated, slipping to -68.6 from -59.5 a month earlier, missing forecasts of -60. The downturn reflects concerns over Germany's weak second-quarter performance and the perceived asymmetry of the newly signed transatlantic trade pact. 'Financial market experts are disappointed by the announced EU–US trade deal,' said ZEW president, professor Achim Wambach. 'In August 2025, the ZEW indicator experiences a substantial decline, also due to the poor performance of the German economy in the second quarter. The outlook has worsened in particular for the chemical and pharmaceutical industries. The mechanical engineering and metal sectors as well as the automotive industry are also severely affected.' Sentiment across the eurozone mirrored Germany's decline. The ZEW expectations index for the bloc dropped 11 points to 25.1, while the gauge of current conditions fell by 7 points to minus 31.2. Initial hopes of relative resilience in the eurozone have been tempered as economists revise down growth expectations for the second half of the year. Unequal trade deal weighs on sentiment On 27 July, just days before a 30% US tariff on EU goods was set to take effect, European Commission President Ursula von der Leyen and US President Donald Trump reached a last-minute agreement. The accord included a basic 15% tariff on EU exports, with steeper levies of 50% on steel, aluminium and copper. Aircraft and aircraft parts were exempted. As part of the deal, the EU also pledged to purchase $750 billion (€685 billion) in US energy exports over three years. The political optics were widely seen as favourable to Washington. Related Which European economy stands to suffer the most from US tariffs? Who got the best trade deal with the US - the EU or UK? 'A one-sided trade deal to reduce the US trade deficit with the EU,' remarked Oliver Rakau, chief Germany economist at Oxford Economics. "Politically, this agreement looks like a clear win for the US," he added. The deal 'is at the better end of the spectrum of what could realistically be achieved,' Isabelle Mateos y Lago, economist at BNP Paribas, noted. She highlighted that the effective tariff rate has been multiplied tenfold compared to the start of the year, though she sees the shock as manageable given exports to the US account for under 3% of EU GDP. Bill Diviney, economist at ABN Amro, described the agreement as a product of Europe's weak bargaining position, highlighting economic stagnation and rising inflation pressures. 'Berlin and France were unwilling to suffer economic pain to risk a better outcome,' he said. 'The EU remains dependent on the US for its security, both in terms of military support as for military imports and remains a net importer of energy,' he added. Markets cautious as US inflation data looms Market reaction to the ZEW release was muted. Germany's DAX index remained broadly steady at 24,050 points. The euro dipped slightly, down 0.1% to $1.1600. Investor focus now turns to the upcoming US inflation report for July, with the Consumer Price Index expected to have risen 2.9% year-on-year, up from 2.7% in June. Markets are watching closely for any signs that higher tariffs are beginning to filter through to consumer prices. Money markets continue to price in an 85% probability of a 25-basis-point rate cut by the Federal Reserve at its next meeting, as signs of cooling labour market strengthen the case for easing. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
43 minutes ago
- Yahoo
Heidelberg Materials AG: Bestinfond's Strategic Exit with a -3.3% Portfolio Impact
Exploring Bestinfond (Trades, Portfolio)'s Q2 2025 Investment Moves Warning! GuruFocus has detected 7 Warning Sign with XAMS:PHIA. Bestinfond (Trades, Portfolio) recently submitted its report for the second quarter of 2025, shedding light on its strategic investment decisions during this period. Bestinfond (Trades, Portfolio), previously managed by Francisco Garcia Parames (Trades, Portfolio) until September 2014, is renowned for its disciplined investment approach. Parames, an MBA graduate from IESE in 1989, joined Bestinver and quickly rose to prominence by managing Spanish equity funds with an impressive annual yield of 17.9% from January 1993 to June 2009. This performance significantly outpaced the IGBM index. Bestinfond (Trades, Portfolio) focuses on global equities, primarily in Europe, selecting businesses with sustainable competitive advantages and strong management. The team patiently waits for market opportunities to acquire stakes at prices below intrinsic value. Summary of New Buy Bestinfond (Trades, Portfolio) added a total of 10 stocks, among them: The most significant addition was Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), with 179,553 shares, accounting for 2.95% of the portfolio and a total value of $34.97 million. The second largest addition to the portfolio was Lloyds Banking Group PLC (LSE:LLOY), consisting of 36,147,215 shares, representing approximately 2.7% of the portfolio, with a total value of 32,027,000. The third largest addition was Nordea Bank Abp (OHEL:NDA FI), with 2,436,320 shares, accounting for 2.59% of the portfolio and a total value of 30,722,000. Key Position Increases Bestinfond (Trades, Portfolio) also increased stakes in a total of 14 stocks, among them: The most notable increase was Compagnie de Saint-Gobain SA (XPAR:SGO), with an additional 177,424 shares, bringing the total to 336,210 shares. This adjustment represents a significant 111.74% increase in share count, a 1.49% impact on the current portfolio, with a total value of 33,500,000. The second largest increase was Lundin Mining Corp (TSX:LUN), with an additional 1,483,723 shares, bringing the total to 3,432,554. This adjustment represents a significant 76.13% increase in share count, with a total value of C$30,673,000. Summary of Sold Out Bestinfond (Trades, Portfolio) completely exited 6 holdings in the second quarter of 2025, as detailed below: Heidelberg Materials AG (XTER:HEI): Bestinfond (Trades, Portfolio) sold all 303,722 shares, resulting in a -3.3% impact on the portfolio. Bank of America Corp (NYSE:BAC): Bestinfond (Trades, Portfolio) liquidated all 543,678 shares, causing a -2.12% impact on the portfolio. Key Position Reduces Bestinfond (Trades, Portfolio) also reduced positions in 25 stocks. The most significant changes include: Reduced Berkshire Hathaway Inc (NYSE:BRK.B) by 35,106 shares, resulting in a -38.46% decrease in shares and a -1.41% impact on the portfolio. The stock traded at an average price of $508.26 during the quarter and has returned -8.42% over the past 3 months and 3.90% year-to-date. Reduced Rolls-Royce Holdings PLC (LSE:RR.) by 2,015,222 shares, resulting in a -44.63% reduction in shares and a -1.25% impact on the portfolio. The stock traded at an average price of 8.07 during the quarter and has returned 37.25% over the past 3 months and 92.68% year-to-date. Portfolio Overview At the second quarter of 2025, Bestinfond (Trades, Portfolio)'s portfolio included 51 stocks. The top holdings included 4.06% in Koninklijke Philips NV (XAMS:PHIA), 4% in Meta Platforms Inc (NASDAQ:META), 3.37% in Heineken NV (XAMS:HEIA), 3.34% in Elevance Health Inc (NYSE:ELV), and 3.18% in Grifols SA (XMAD:GRF). The holdings are mainly concentrated in 10 of the 11 industries: Industrials, Healthcare, Consumer Cyclical, Financial Services, Basic Materials, Consumer Defensive, Technology, Communication Services, Energy, and Real Estate. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
43 minutes ago
- Yahoo
Billions wiped out as software stocks sink on AI disruption fear
(Bloomberg) — Growing worries that artificial intelligence tools could soon disrupt the world's biggest software businesses are sparking a selloff across the sector. A 30% plunge in Ltd. shares grabbed investor attention in Europe on Tuesday, with some analysts saying the drop reflected concerns over the long-term competitive threat of AI as much as results that failed to meet higher investor expectations. Such worries fueled big losses across the sector. SAP SE — Europe's biggest company by market value — dropped as much as 7.1% in Frankfurt, erasing almost €22 billion ($26 billion) at the session low. Smaller peers like Sage Group Plc and Dassault Systemes SE also slid in Tuesday trading. Fears are growing that incumbent software makers may be at risk of heightened competition, if AI tools now allow applications to be made more quickly and at a much lower cost. Earlier this month, OpenAI Chief Executive Officer Sam Altman warned that the sector could enter a 'fast fashion era very soon' in terms of AI enabling cheaper, rapid production. 'Software valuations remain under pressure from the 'death of software due to AI' narrative, which likely drives continued volatility in the short term,' RBC Capital Markets analysts led by Matthew Hedberg wrote in a note on Tuesday. Software is among the weakest performers within tech this year, with shares of Salesforce Inc. down more than 30% and Adobe down by about 25%. A basket of software stocks is trading near the lowest levels since January versus a group of semiconductor shares. Read: Traders Are Fleeing Stocks Feared to Be Under Threat From AI The worry has also spread to companies that offer research insights and IT consultancy services, such as Gartner Inc, which reduced its full-year outlook last week. While the firm cited factors like tariffs and government budget cuts, analysts said the weak result exacerbated concerns over competition from AI research tools. Still, some see buying opportunities following the rapid price drops. Morgan Stanley analyst Josh Baer raised his rating on to overweight on Tuesday, saying the stock's pullback 'more than incorporates' risks of AI disrupting search advertising and performance marketing. 'Investors are fearing that AI is going to eat software and multiples are going to fall apart,' Jefferies analyst Brent Thill said in a CNBC interview on Monday. 'I think the fear is overblown, but nevertheless we are living through a period right now where investors just really don't care about the group.' —With assistance from Gary Parkinson and Ryan Vlastelica. ©2025 Bloomberg L.P. Sign in to access your portfolio