Latest news with #EDPRenovaveis
Gulf Today
21-05-2025
- Business
- Gulf Today
Germany to get ‘investment booster' before summer break
German Finance Minister Lars Klingbeil promised swift measures to boost investment on Tuesday amid global trade uncertainty. 'It is right that we will launch an investment booster before the summer break, which can be the right and fastest-acting response to the reluctance to invest,' he said at the Eastern German Economic Forum in Berlin. Germany was the only member of the G7 advanced economies that failed to grow for the last two years, and tariffs announced by US President Donald Trump will deal a major blow to its export-oriented economy. As part of government measures to revive growth, Klingbeil mentioned tax reforms, depreciation allowances of 30 per cent over the next three years, and a 500 million euro ($562.2 million) infrastructure fund that he called 'the largest modernisation effort in decades'. The government has also pledged to reduce the bureaucratic burden, aiming to cut administrative costs by 25 pre cent and compliance expenses by 10 billion euros through a 'one in, two out' rule for new regulations. 'Probably you're all thinking right now, this is not the first politician to express such a goal of reducing bureaucracy costs, and you're right, we will be measured by this.' He said the new coalition had a 'historical responsibility' to return the German economy to growth. 'If we don't manage to make life simpler again for companies and people in this country, then those who might question the rule of law might come,' Klingbeil said, in reference to the rise in polls of the extreme right party Alternative for Germany (AfD). European stocks edged higher on Tuesday, with utilities and telecom firms leading gains as investors awaited updates on US tariff policy that has raised concerns about health of the global economy. The pan-European STOXX 600 index rose 0.4 per cent by 0851 GMT, hovering at a seven-week high. The German DAX, up 0.2 per cent, touched a record high, while Spain's IBEX was trading at its highest since 2008. Utilities rose 1.5 per cent, with Portugal's EDP Renovaveis climbing 3.5 per cent after Deutsche Bank upgraded the stock to 'buy' from 'hold.' Shares of offshore wind power developers Oersted jumped 13.3 per cent and Vestas Wind gained 4 per cent after US President Donald Trump's administration lifted a month-old stop-work order on a major offshore wind facility planned off the coast of New York. Broader markets also stabilised after a surprise downgrade by Moody's on US sovereign credit late on Friday sapped risk appetite. Investors are also awaiting any trade deals, with Trump's reciprocal tariffs set to kick in again in early July. 'We still think that the path of least resistance would be higher for risky assets in the near term,' Mohit Kumar, economist at Jefferies, noted. 'That's not because we are constructive on the macro picture, but because we believe that investors are still underinvested and there's cash sitting on the sidelines.' Agencies
Business Recorder
21-05-2025
- Business
- Business Recorder
European shares close near nine-week high
FRANKFURT: European stocks closed at near nine-week highs on Tuesday with utilities and telecom firms leading gains, while some positive corporate earnings also bolstered sentiment. The pan-European STOXX 600 index ended 0.7% higher after notching an eight-week high. Most regional bourses also ended up, with ones in Germany and Ireland touching a record high, while Spain's was trading at its highest since 2008. Utilities rose 1.8%, leading broader gains, with Portugal's EDP Renovaveis climbing 4.1% after Deutsche Bank upgraded the stock to 'buy' from 'hold.' Shares of offshore wind power developers Oersted jumped 14.5% and Vestas Wind gained 4.8% after US President Donald Trump's administration lifted a month-old stop-work order on a major offshore wind facility planned off the coast of New York. Vodafone's 7.3% gain after the telecom giant said it sees cash-flow growth this year boosted the sector 1.7%. Broader markets also stabilised after a surprise downgrade by Moody's on US sovereign credit late on Friday sapped risk appetite. However, Wall Street had recouped early declines to close flat on Monday. 'The downgrade did shake confidence a little bit yesterday, but it seems like we quickly got over that... So (today) it kind of seems just a little bit of a rebalancing in appetite,' said Daniela Hathorn, senior market analyst at Meanwhile, China cut benchmark lending rates for the first time since October on Tuesday, to help buffer the economy against the impact of the Sino-US trade war. Luxury stocks, which are exposed to Chinese consumers, gained on Tuesday with LVMH up 1.3%, Burberry gaining 3.7% and Kering up 4%. The wider index was up 0.3%. The European Union and Britain announced new sanctions against Russia without waiting for the United States to join them, casting a cloud over future developments in peace talks between Russia and Ukraine. Investors are also awaiting any trade deals, with Trump's reciprocal tariffs set to kick in again in early July. On the earnings front, SalMar dropped 7.8% to the bottom of the STOXX 600 after the Norwegian salmon farmer reported lower-than-expected first-quarter operating profit.
Business Times
20-05-2025
- Business
- Business Times
Europe: Shares close near nine-week high, powered by utility, telecom stocks
[BENGALURU] European stocks closed at near nine-week highs on Tuesday (May 20) with utilities and telecom firms leading gains, while some positive corporate earnings also bolstered sentiment. The pan-European Stoxx 600 index ended 0.7 per cent higher after notching an eight-week high. Most regional bourses also ended up, with ones in Germany and Ireland touching a record high, while Spain's was trading at its highest since 2008. Utilities rose 1.8 per cent, leading broader gains, with Portugal's EDP Renovaveis climbing 4.1 per cent after Deutsche Bank upgraded the stock to 'buy' from 'hold'. Shares of offshore wind power developers Oersted jumped 14.5 per cent and Vestas Wind gained 4.8 per cent after US President Donald Trump's administration lifted a month-old stop-work order on a major offshore wind facility planned off the coast of New York. Vodafone's 7.3 per cent gain after the telecom giant said it sees cash-flow growth this year boosted the sector by 1.7 per cent. Broader markets also stabilised after a surprise downgrade by Moody's on US sovereign credit late on Friday sapped risk appetite. However, Wall Street had recouped early declines to close flat on Monday. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'The downgrade did shake confidence a little bit yesterday, but it seems like we quickly got over that... So (today) it kind of seems just a little bit of a rebalancing in appetite,' said Daniela Hathorn, senior market analyst at Meanwhile, China cut benchmark lending rates for the first time since October on Tuesday, to help buffer the economy against the impact of the Sino-US trade war. Luxury stocks, which are exposed to Chinese consumers, gained on Tuesday with LVMH up 1.3 per cent, Burberry gaining 3.7 per cent and Kering up 4 per cent. The wider index was up 0.3 per cent. The European Union and Britain announced new sanctions against Russia without waiting for the United States to join them, casting a cloud over future developments in peace talks between Russia and Ukraine. Investors are also awaiting any trade deals, with Trump's reciprocal tariffs set to kick in again in early July. On the earnings front, SalMar dropped 7.8 per cent to the bottom of the Stoxx 600 after the Norwegian salmon farmer reported lower-than-expected first-quarter operating profit. London-based fast food chain Greggs gained 9.2 per cent after quarterly results while distributor Diploma hit a record high after raising its full-year organic revenue growth forecast. Swiss bank UBS dropped 3.3 per cent, with traders citing a media report that the lender was set to lose the first leg of a battle over government proposals to make it hold more capital. Heineken dipped 3 per cent after Bloomberg News reported Mexico's Femsa had sold its remaining stake in the brewer. REUTERS
Time of India
20-05-2025
- Business
- Time of India
European shares inch higher, supported by utilities and telecom
European stocks edged up on Tuesday, with utilities and telecom firms leading gains as investors awaited updates on U.S. tariff policy that has raised concerns about health of the global economy. The pan-European STOXX 600 index was up 0.2% by 0725 GMT, hovering at a seven-week high. Utilities rose 1.1%, with Portugal's EDP Renovaveis climbing 3.5% after Deutsche Bank upgraded the stock to "buy" from "hold." Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Shares of renewable energy firms Oersted jumped 13.3% and Vestas Wind 4% after U.S. President Donald Trump 's administration lifted a month-old stop-work order on a major offshore wind facility planned off the coast of New York. Broader markets also stabilised after a surprise downgrade by Moody's on U.S. sovereign credit late on Friday sapped risk appetite. Live Events Investors are also awaiting any trade deals, with Trump's reciprocal tariffs set to kick in again in early July. Among other stocks, Salmar dropped 4% after the Norwegian salmon farmer reported lower-than-expected first-quarter operating profit. In the UK, fast food chain Greggs, Upper Crust owner SSP Group and distributor Diploma climbed between 3.7% and 14.5% after reporting results.
Business Insider
12-05-2025
- Business
- Business Insider
Barclays Reaffirms Their Hold Rating on EDP Renovaveis (0ML1)
Barclays analyst Jose Ruiz maintained a Hold rating on EDP Renovaveis (0ML1 – Research Report) on May 9 and set a price target of €9.40. The company's shares closed last Friday at €8.22. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Ruiz is ranked #2541 out of 9472 analysts. In addition to Barclays, EDP Renovaveis also received a Hold from Deutsche Bank 's James Brand in a report issued on April 24. However, on May 8, Kepler Capital maintained a Buy rating on EDP Renovaveis (LSE: 0ML1). Based on EDP Renovaveis' latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of €508.44 million and a net profit of €142.06 million. In comparison, last year the company earned a revenue of €520.75 million and had a net profit of €14.83 million
