Latest news with #Epiroc
Economic Times
2 days ago
- Business
- Economic Times
European shares end flat as markets assess earnings flurry
European shares were unchanged on Friday, as losses in heavyweight healthcare shares were countered by an advance in oil and gas stocks, closing out a busy week filled with corporate earnings from around the continent. ADVERTISEMENT The pan-European STOXX 600 index held steady at 547 points, clocking marginal weekly losses. Regional bourses were mixed with Germany's benchmark DAX dropping 0.3%, while the UK's blue-chip FTSE 100 gained 0.2%. With corporate earnings gaining steam, investors are closely examining corporate guidance to see how firms are adjusting to the shifting U.S. tariff policy, ahead of the August 1 trade deadline. "Earnings misses in Europe are being punished by more than history would suggest, pointing to greater scrutiny after a remarkable rally year-to-date," said Laura Cooper, head of macro credit and investment strategist at Nuveen. "How corporates are navigating tariff uncertainty, potentially weaker demand, and supply chain dynamics will be in focus, though a message of past-peak tariff enthusiasm could prop up sentiment and drive greater upside." ADVERTISEMENT On Friday, Swedish mining equipment maker Epiroc dropped 9.2% after its second quarter results missed market expectations. Atlas Copco also fell 7.8% after the Swedish industrial group reported second-quarter adjusted operating profit below market expectations and a decline in orders. ADVERTISEMENT There were bright earnings as well, with Saab jumping 16.4% after posting higher-than-expected second-quarter earnings and raising its sales outlook. Getinge added 6% after the Swedish medical equipment maker reported second-quarter core earnings above market expectations. ADVERTISEMENT Industrials was the best performing STOXX sub-sector this week, while automobiles was the laggard this week. On Friday, healthcare stocks were the top losers with British drugmaker GSK down 4.6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep due to concerns over side effects. ADVERTISEMENT Helping offset some losses, oil and gas shares added 0.6% and food and beverages advanced 0.8%. Among other moving stocks, Danish wind turbine maker Vestas jumped 15% after J.P. Morgan upgraded its rating to "overweight" from "neutral". Iveco climbed 8.3% after a Reuters report that Italy's Agnelli family is in talks over the possible sale of the truck maker with two mentioning Tata Motors as a potential buyer. Swedish home appliances maker Electrolux slumped 14.3% after poor second-quarter performance in Europe and India's Reliance Industries said its retail unit acquired home appliance maker Kelvinator from Electrolux. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Recorder
3 days ago
- Business
- Business Recorder
European shares end flat as markets assess earnings flurry
FRANKFURT: European shares were unchanged on Friday, as losses in heavyweight healthcare shares were countered by an advance in oil and gas stocks, closing out a busy week filled with corporate earnings from around the continent. The pan-European STOXX 600 index held steady at 547 points, clocking marginal weekly losses. Regional bourses were mixed with Germany's benchmark DAX dropping 0.3%, while the UK's blue-chip FTSE 100 gained 0.2%. With corporate earnings gaining steam, investors are closely examining corporate guidance to see how firms are adjusting to the shifting US tariff policy, ahead of the August 1 trade deadline. 'Earnings misses in Europe are being punished by more than history would suggest, pointing to greater scrutiny after a remarkable rally year-to-date,' said Laura Cooper, head of macro credit and investment strategist at Nuveen. 'How corporates are navigating tariff uncertainty, potentially weaker demand, and supply chain dynamics will be in focus, though a message of past-peak tariff enthusiasm could prop up sentiment and drive greater upside.' On Friday, Swedish mining equipment maker Epiroc dropped 9.2% after its second quarter results missed market expectations. Atlas Copco also fell 7.8% after the Swedish industrial group reported second-quarter adjusted operating profit below market expectations and a decline in orders. There were bright earnings as well, with Saab jumping 16.4% after posting higher-than-expected second-quarter earnings and raising its sales outlook. Getinge added 6% after the Swedish medical equipment maker reported second-quarter core earnings above market expectations. Industrials was the best performing STOXX sub-sector this week, while automobiles was the laggard this week. On Friday, healthcare stocks were the top losers with British drugmaker GSK down 4.6% after a US FDA advisory panel recommended against approving its blood cancer drug Blenrep due to concerns over side effects. Helping offset some losses, oil and gas shares added 0.6% and food and beverages advanced 0.8%. Among other moving stocks, Danish wind turbine maker Vestas jumped 15% after J.P. Morgan upgraded its rating to 'overweight' from 'neutral'. Iveco climbed 8.3% after a Reuters report that Italy's Agnelli family is in talks over the possible sale of the truck maker with two mentioning Tata Motors as a potential buyer. Swedish home appliances maker Electrolux slumped 14.3% after poor second-quarter performance in Europe and India's Reliance Industries said its retail unit acquired home appliance maker Kelvinator from Electrolux.
Reuters
3 days ago
- Business
- Reuters
European shares end flat as markets assess earnings flurry
July 18 (Reuters) - European shares were unchanged on Friday, as losses in heavyweight healthcare shares were countered by an advance in oil and gas stocks, closing out a busy week filled with corporate earnings from around the continent. The pan-European STOXX 600 index (.STOXX), opens new tab held steady at 547 points, clocking marginal weekly losses. Regional bourses were mixed with Germany's benchmark DAX (.GDAXI), opens new tab dropping 0.3%, while the UK's blue-chip FTSE 100 (.FTSE), opens new tab gained 0.2%. With corporate earnings gaining steam, investors are closely examining corporate guidance to see how firms are adjusting to the shifting U.S. tariff policy, ahead of the August 1 trade deadline. "Earnings misses in Europe are being punished by more than history would suggest, pointing to greater scrutiny after a remarkable rally year-to-date," said Laura Cooper, head of macro credit and investment strategist at Nuveen. "How corporates are navigating tariff uncertainty, potentially weaker demand, and supply chain dynamics will be in focus, though a message of past-peak tariff enthusiasm could prop up sentiment and drive greater upside." On Friday, Swedish mining equipment maker Epiroc ( opens new tab dropped 9.2% after its second quarter results missed market expectations. Atlas Copco ( opens new tab also fell 7.8% after the Swedish industrial group reported second-quarter adjusted operating profit below market expectations and a decline in orders. There were bright earnings as well, with Saab ( opens new tab jumping 16.4% after posting higher-than-expected second-quarter earnings and raising its sales outlook. Getinge ( opens new tab added 6% after the Swedish medical equipment maker reported second-quarter core earnings above market expectations. Industrials (.SXNP), opens new tab was the best performing STOXX sub-sector this week, while automobiles (.SXAP), opens new tab was the laggard this week. On Friday, healthcare stocks (.SXDP), opens new tab were the top losers with British drugmaker GSK (GSK.L), opens new tab down 4.6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep due to concerns over side effects. Helping offset some losses, oil and gas shares (.SXEP), opens new tab added 0.6% and food and beverages (.SX3P), opens new tab advanced 0.8%. Among other moving stocks, Danish wind turbine maker Vestas ( opens new tab jumped 15% after J.P. Morgan upgraded its rating to "overweight" from "neutral". Iveco ( opens new tab climbed 8.3% after a Reuters report that Italy's Agnelli family is in talks over the possible sale of the truck maker with two mentioning Tata Motors ( opens new tab as a potential buyer. Swedish home appliances maker Electrolux ( opens new tab slumped 14.3% after poor second-quarter performance in Europe and India's Reliance Industries ( opens new tab said its retail unit acquired home appliance maker Kelvinator from Electrolux.
Reuters
3 days ago
- Business
- Reuters
Nordic Industrials flag FX bruises as dollar dents Q2 profits
July 18 (Reuters) - Sweden's engineering giants are feeling the strain as currency swings and uncertainty around tariffs weigh on their profits, second-quarter earnings from some of the region's biggest industrial players showed. At first glance, activity levels remained healthy, but a weaker U.S. dollar impacted companies this quarter, chipping away at profits even for companies with solid order books and global footprints. Shares in Epiroc ( opens new tab dropped 5.5%, hitting the bottom of the pan-European STOXX 600 (.STOXX), opens new tab index on Friday, after the mining equipment maker missed expectations. Weak demand and pressure on its construction unit outweighed efforts by the company to improve efficiency. Miner Boliden ( opens new tab also saw its earnings fall short of expectations, as the weakening U.S. dollar had a greater impact than anticipated. Boliden's results served as a stark reminder of how much the dollar matters in export-heavy Scandinavia. Metals sold by the Swedish miner are priced in U.S. dollars, which means that when the dollar is weak the sales value of its products falls when converted back into Swedish crowns. While demand for minerals and industrial components is still high, companies like SKF ( opens new tab and Trelleborg ( opens new tab say that more clients are holding off on non-essential purchases or phasing out investments due to the tariff uncertainty. SKF beat estimates this quarter, but noted a currency headwind impacting earnings. Atlas Copco ( opens new tab reported a lower order intake due to a negative currency effect. Its shares fell nearly 10% on Friday, marking their worst day of trading in nine years. Trelleborg missed market forecasts for second-quarter core earnings on Thursday. It warned U.S. President Donald Trump's trade war was making customers cautious about placing new orders. Companies' profit margins are so far holding firm, largely due to efforts to save money, keep prices higher and cut jobs, but its uncertain how long those efficiency drives will work as foreign exchange and cost rises eat into profits, analysts say.
Yahoo
24-04-2025
- Business
- Yahoo
Deutsche Bank Appointed as Depositary Bank for the Two Sponsored Level 1 American Depositary Receipt Programs of Epiroc Aktiebolag
NEW YORK, April 24, 2025--(BUSINESS WIRE)--Deutsche Bank announced today its appointment as depositary bank for the two sponsored American Depositary Receipt Programs of Epiroc Aktiebolag (OTC Class A share ADR Program: EPOAY, OTC Class B share ADR Program: EPOBY). Epiroc AB is a global productivity partner for mining and infrastructure customers. Epiroc develops equipment such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. Epiroc also offer aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden. * In addition to specializing in administering cross-border equity structures such as New York Shares, American, and Global Depositary Receipts, Deutsche Bank provides corporates, financial institutions, hedge funds and supranational agencies around the world with trustee, agency, escrow, and related services. Deutsche Bank offers a very broad range of services for diverse products, from complex securitizations and project finance to syndicated loans, debt exchanges and restructurings. * This information was provided by Epiroc Aktiebolag (April 2025). Depositary Receipt Information Country Sweden Custodian Bank Skandinaviska Enskilda Banken AB Effective Date April 24, 2025 Level I ADR – Class A share CUSIP 29429L 402 ISIN US29429L4023 Symbol EPOAY Exchange OTC Current Ratio 1 ADS : 1 Class A Share Eligibility DTC Level I ADR – Class B share CUSIP 29429L 303 ISIN US29429L3033 Symbol EPOBY Exchange OTC Current Ratio 1 ADS : 1 Class B Share Eligibility DTC Depositary Receipt Contacts New Business Development Jonathan Montanaro Tel: +44 20 754-78538 Markets Distribution adr@ London Tel: +44 (0) 20 7547 6500 New York Tel: +1 212 250 9100 Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany's leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. The Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Conduct Authority. This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright© April 2025 Deutsche Bank AG. All rights reserved. View source version on Contacts For further information, please contact:Deutsche Bank AGPress & Media RelationsDylan RiddleTel. +12122504982Cell. +1(904)3866481Email
