Latest news with #FionaCincotta
Business Recorder
23-07-2025
- Business
- Business Recorder
European shares end lower as trade anxiety weigh
FRANKFURT: European shares settled lower on Tuesday, with German equities logging their biggest one-day drop in two months as a batch of disappointing corporate reports and dimming prospects of a US-European Union trade deal weighed on sentiment. The pan-European STOXX 600 index closed 0.46% lower, with Germany's DAX logging a 1.1% drop, easing further from a recent record high. This earnings season is especially of interest for investors as they look for clues on how trade uncertainty and the euro's recent surge are impacting European export-heavy corporates. Latest earnings forecasts showed the outlook for European corporate health has slightly improved, although they are still expected to drop 0.3% on average, according to data compiled by LSEG. A year ago, STOXX 600 companies on average delivered a 3.0% increase in second-quarter earnings. On Monday, Sartorius Stedim Biotech was among top losers on the STOXX 600, down 8.1% after the French lab supplies manufacturer reported its half-year results. Switzerland's Givaudan lost 5.4% after missing half-year sales forecast due to the Swiss franc's 14% surge this major lenders, Julius Baer's first half profit took a hit, pressured by loan loss provisions and a charge from the sale of its Brazilian wealth management arm, sending shares of the Swiss bank down 2.1%. Keeping investors wary was also the lack of progress on prolonged negotiations between the US and Europe as they brace for the EU potentially announcing a broader range of counter-measures against Washington and could escalate trade tensions. 'If we see that 30% (US) tariff implemented, followed by potential countermeasures from the European Union, it would significantly hurt the growth outlook for the eurozone—a region where growth is already in a very fragile position,' Fiona Cincotta, senior market analyst at City Index said. Top on the radar for investors is a business activity survey and the European Central Bank's monetary policy verdict later in the week. Markets broadly anticipate that the central bank would leave interest rates unchanged.
Business Times
22-07-2025
- Business
- Business Times
Europe: Shares end lower as corporate results, trade anxiety weigh
EUROPEAN shares settled lower on Tuesday, with German equities logging their biggest one-day drop in two months as a batch of disappointing corporate reports and dimming prospects of a US-European Union trade deal weighed on sentiment. The pan-European Stoxx 600 index closed 0.41 per cent lower at 544.34, with Germany's DAX logging a 1.1 per cent drop, easing further from a recent record high. This earnings season is especially of interest for investors as they look for clues on how trade uncertainty and the euro's recent surge are impacting European export-heavy corporates. Latest earnings forecasts showed the outlook for European corporate health has slightly improved, although they are still expected to drop 0.3 per cent on average, according to data compiled by LSEG. A year ago, Stoxx 600 companies on average delivered a 3.0 per cent increase in second-quarter earnings. On Monday, Sartorius Stedim Biotech was among top losers on the Stoxx 600, down 8.1 per cent after the French lab supplies manufacturer reported its half-year results. 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 Switzerland's Givaudan lost 5.4 per cent after missing half-year sales forecast due to the Swiss franc's 14 per cent surge this year. Among major lenders, Julius Baer's first half profit took a hit, pressured by loan loss provisions and a charge from the sale of its Brazilian wealth management arm, sending shares of the Swiss bank down 2.1 per cent. Keeping investors wary was also the lack of progress on prolonged negotiations between the US and Europe as they brace for the EU potentially announcing a broader range of counter-measures against Washington and could escalate trade tensions. 'If we see that 30 per cent (US) tariff implemented, followed by potential countermeasures from the European Union, it would significantly hurt the growth outlook for the eurozone - a region where growth is already in a very fragile position,' Fiona Cincotta, senior market analyst at City Index said. Top on the radar for investors is a business activity survey and the European Central Bank's monetary policy verdict later in the week. Markets broadly anticipate that the central bank would leave interest rates unchanged. 'The ECB essentially has their hands tied at the moment until they gain more clarity on what the trade relationship with the US will look like,' Cincotta said. Among others, Dulux paint maker Akzo Nobel declined 3.4 per cent after lowering its core profit outlook for 2025, while Swiss chocolate maker Lindt & Spruengli fell 6.4 per cent as steep hikes in chocolate prices struck half-year volumes. In bright spots, Britain's Compass Group surged 5.4 per cent after the food catering firm agreed to buy European premium food services business Vermaat Groep in a 1.5-billion-euro (S$2.2 billion) deal including debt. Banco BPM closed up 1.2 per cent after Italy's market watchdog has suspended UniCredit's bid for the lender for another 30 days. Attention will be on SAP, the region's largest company by market cap, with its results due later in the day. REUTERS
Business Times
15-07-2025
- Business
- Business Times
Europe: Shares fall on healthcare, financials drag; focus on US-EU trade deal
EUROPEAN shares ended lower on Tuesday, dragged down by heavyweight financial and healthcare stocks as investors awaited news on a potential US-EU trade deal while assessing the latest US inflation data. The pan-European Stoxx 600 index closed down 0.37 per cent at 544.95. Most regional indexes declined, with Spain's IBEX falling 1.1 per cent. On Monday, the European Union accused the US of resisting a trade deal and warned of countermeasures if no agreement is reached. US President Donald Trump, meanwhile, said he was open to talks, adding that EU officials would visit the US for trade negotiations. 'What we're seeing here is just a reflection of uncertainty surrounding EU-US trade talks,' said Fiona Cincotta, senior market analyst at City Index. 'That radio silence is just unnerving investors. They want to know that an improvement can be made on (the) 30 per cent (tariff rate).' 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 ZEW economic research institute said German investor morale rose more than expected in July, but economists warned that optimism would vanish without an EU-US trade deal. Across the Atlantic, big banks kicked off the earnings season, with investors closely assessing outlooks and tariff-related uncertainties. JPMorgan Chase raised its 2025 net interest income forecast and beat second-quarter profit estimates. In the euro zone, the banking index slipped 1.1 per cent. Germany's Commerzbank, Italy's Banco BPM and France's Societe Generale each fell more than 2 per cent. Healthcare also lagged, with Danish drugmaker Novo Nordisk sliding 2.3 per cent. Ericsson reported upbeat results but the Swedish telecom equipment maker's shares declined 7.7 per cent after it warned of tariffs crimping its margin growth. Barratt Redrow slid 9.4 per cent after Britain's largest homebuilder reported that home completions missed expectations for fiscal 2025. UK's B&M slumped 9.1 per cent to a more-than-five-year low, after the discount retailer reported higher like-for-like revenue in its domestic business in the first quarter. Curbing losses in the sector, the biggest supplier of computer chip-making equipment ASML climbed 2.7 per cent ahead of its earnings on Wednesday. News on Tuesday that US consumer prices increased by the most in five months in June suggested tariffs were starting to fuel inflation, potentially keeping the Federal Reserve on the sidelines until September. Among other stocks, Orsted gained 8.3 per cent after Morgan Stanley raised its rating on the Danish offshore wind developer to 'overweight' from 'equal weight'. Accelleron rose 8.7 per cent to a record high after the engine components maker increased its revenue forecast for 2025. REUTERS
Yahoo
27-06-2025
- Business
- Yahoo
US-China Deal Prospects Improve Market Sentiment
Fiona Cincotta, financial markets senior analyst at City Index, says the markets are pricing in optimism about better relations between the US and China. She joins Ed Ludlow on "Bloomberg Tech."
Bloomberg
27-06-2025
- Business
- Bloomberg
US-China Deal Prospects Improve Market Sentiment
Fiona Cincotta, financial markets senior analyst at City Index, says the markets are pricing in optimism about better relations between the US and China. She joins Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
