Latest news with #Moneyfarm
Business Recorder
5 days ago
- Business
- Business Recorder
European stocks close at two-month highs propelled by earnings
FRANKFURT: European shares closed at their highest level in more than two months on Thursday, with aerospace and defence stocks and financials providing the biggest boost as investors assessed a spate of corporate earnings. The pan-European STOXX 600 index closed 0.6% higher, after touching a two-week intraday high. Industrial stocks were among the biggest sectoral gainers, with aerospace and defence companies taking charge. The broader index gained 2.2% after coming under pressure ahead of Friday's summit between US President Donald Trump and Russian President Vladimir Putin. Richard Flax, chief investment officer at Moneyfarm, said that despite expectations of Europe spending more on defence, questions remained about when it would come through and how much would go to European firms. Upbeat corporate earnings reports also aided sentiment. Insurers were up 0.9%, after trading near record highs touched last Thursday earlier in the session. London's Admiral hit a record high, rising 6.6% after a strong first-half profit, while Aviva jumped 2.6% to its highest since December 2007, after raising its interim dividend after reporting stronger half-year operating profit. Dutch payments firm Adyen slumped 4.9% after it cut its annual revenue forecast. Most regional indexes traded higher, with Britain's FTSE reversing earlier losses to gain 0.1%. Markets have gained in recent weeks on optimism around the Federal Reserve delivering an interest rate cut as soon as next month. However, US economic data on the day erased expectations of a 50 basis point cut next month. 'There's kind of continued optimism about prospect for lower rates in the US... PPI figures today tempered things a little bit, but the expectation continues to be that we'll see rates come down,' said Flax. Data showed Britain's economy slowed less than expected in the second quarter after a strong start to 2025, despite US trade tariffs and a weaker jobs market, offering some relief to Finance Minister Rachel Reeves. Among others, Embracer slumped 23.4%, its worst day since May 2023, and fell to the bottom of the STOXX 600, after the gaming company reported a first-quarter operating profit and forecast annual earnings well below market expectations. Thyssenkrupp tumbled 8.7% after the German conglomerate cut its full-year outlook for investments and sales, citing disruption from US tariffs.
Business Times
5 days ago
- Business
- Business Times
Europe: Stocks close at two-month highs propelled by earnings, defence stocks
EUROPEAN shares closed at their highest level in more than two months on Thursday, with aerospace and defence stocks and financials providing the biggest boost as investors assessed a spate of corporate earnings. The pan-European Stoxx 600 index closed 0.6 per cent higher at 553.87, after touching a two-week intraday high. Industrial stocks were among the biggest sectoral gainers, with aerospace and defence companies taking charge. The broader index gained 2.2 per cent after coming under pressure ahead of Friday's summit between US President Donald Trump and Russian President Vladimir Putin. Richard Flax, chief investment officer at Moneyfarm, said that despite expectations of Europe spending more on defence, questions remained about when it would come through and how much would go to European firms. Upbeat corporate earnings reports also aided sentiment. Insurers were up 0.9 per cent, after trading near record highs touched last Thursday earlier in the session. London's Admiral hit a record high, rising 6.6 per cent after a strong first-half profit, while Aviva jumped 2.6 per cent to its highest since December 2007, after raising its interim dividend after reporting stronger half-year operating profit. 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 Dutch payments firm Adyen slumped 4.9 per cent after it cut its annual revenue forecast. Most regional indexes traded higher, with Britain's FTSE reversing earlier losses to gain 0.1 per cent. Markets have gained in recent weeks on optimism around the Federal Reserve delivering an interest rate cut as soon as next month. However, US economic data on the day erased expectations of a 50 basis point cut next month. 'There's kind of continued optimism about prospect for lower rates in the US... PPI figures today tempered things a little bit, but the expectation continues to be that we'll see rates come down,' said Flax. Data showed Britain's economy slowed less than expected in the second quarter after a strong start to 2025, despite US trade tariffs and a weaker jobs market, offering some relief to Finance Minister Rachel Reeves. Among others, Embracer slumped 23.4 per cent, its worst day since May 2023, and fell to the bottom of the Stoxx 600, after the gaming company reported a first-quarter operating profit and forecast annual earnings well below market expectations. Thyssenkrupp tumbled 8.7 per cent after the German conglomerate cut its full-year outlook for investments and sales, citing disruption from US tariffs. FLSmidth rose 6.7 per cent, the most on Stoxx 600, after the Danish mining and cement technology supplier reported second-quarter results and updated annual forecast. Carlsberg fell 7.1 per cent after the Danish brewer missed half-year profit and volume forecasts, and said it did not expect any improvement in the consumer environment this year. REUTERS
Reuters
5 days ago
- Business
- Reuters
European stocks close at two-month highs propelled by earnings, defence stocks
Aug 14 (Reuters) - European shares closed at their highest level in more than two months on Thursday, with aerospace and defence stocks and financials providing the biggest boost as investors assessed a spate of corporate earnings. The pan-European STOXX 600 index (.STOXX), opens new tab closed 0.6% higher, after touching a two-week intraday high. Industrial stocks (.SXNP), opens new tab were among the biggest sectoral gainers, with aerospace and defence companies taking charge. The broader index (.SXPARO), opens new tab gained 2.2% after coming under pressure ahead of Friday's summit between U.S. President Donald Trump and Russian President Vladimir Putin. Richard Flax, chief investment officer at Moneyfarm, said that despite expectations of Europe spending more on defence, questions remained about when it would come through and how much would go to European firms. Upbeat corporate earnings reports also aided sentiment. Insurers (.SXIP), opens new tab were up 0.9%, after trading near record highs touched last Thursday earlier in the session. London's Admiral (ADML.L), opens new tab hit a record high, rising 6.6% after a strong first-half profit, while Aviva (AV.L), opens new tab jumped 2.6% to its highest since December 2007, after raising its interim dividend after reporting stronger half-year operating profit. Dutch payments firm Adyen ( opens new tab slumped 4.9% after it cut its annual revenue forecast. Most regional indexes traded higher, with Britain's FTSE (.FTSE), opens new tab reversing earlier losses to gain 0.1%. Markets have gained in recent weeks on optimism around the Federal Reserve delivering an interest rate cut as soon as next month. However, U.S. economic data on the day erased expectations of a 50 basis point cut next month. "There's kind of continued optimism about prospect for lower rates in the US... PPI figures today tempered things a little bit, but the expectation continues to be that we'll see rates come down," said Flax. Data showed Britain's economy slowed less than expected in the second quarter after a strong start to 2025, despite U.S. trade tariffs and a weaker jobs market, offering some relief to Finance Minister Rachel Reeves. Among others, Embracer ( opens new tab slumped 23.4%, its worst day since May 2023, and fell to the bottom of the STOXX 600, after the gaming company reported a first-quarter operating profit and forecast annual earnings well below market expectations. Thyssenkrupp ( opens new tab tumbled 8.7% after the German conglomerate cut its full-year outlook for investments and sales, citing disruption from U.S. tariffs. FLSmidth ( opens new tab rose 6.7%, the most on STOXX 600, after the Danish mining and cement technology supplier reported second-quarter results and updated annual forecast. Carlsberg ( opens new tab fell 7.1% after the Danish brewer missed half-year profit and volume forecasts, and said it did not expect any improvement in the consumer environment this year.
Daily Mirror
01-07-2025
- Business
- Daily Mirror
Age you should stop taking kids on holiday - and when they should start paying
Mums and dads hope the financial scales will tip in their favour and they'll no longer have to cover their child's costs by the time they turn 30, according to a new study by digital wealth manager Moneyfarm Adults should stop taking their kids on holiday at 30, at least if the results of a survey are anything to go by. After a decade of carefully planning mealtimes, noting nappy-change facility locations, forking out summer holiday rates for a resort with a kids' club, and then another decade of ensuring teenage children don't gain illicit access to an all-you-can-drink wristband, parents may be forgiven for deciding to go on holiday without children. However, a significant chunk don't. A 2023 study found that two-fifths of adults (42%) were planning holidays that year with their parents, as rising living costs squeeze families' travel budgets. And the Starling Bank poll revealed that more than a quarter—27%—of parents who are going away with their grown-up children said they are paying for some or all of their travel expenses to help them out during the cost-of-living crisis. Not everyone considers the set-up to be ideal. Mums and dads hope the financial scales will tip in their favour and they'll no longer have to cover their child's costs by the time they turn 30, according to a new study by digital wealth manager Moneyfarm. When their child reaches 33, a majority of parents would love for their offspring to take them on a staycation or minibreak, while they aspire to be taken on a foreign holiday by the time their child reaches 36 years old. This may be a pipe dream for most. Seven in ten (69 percent) say they still regularly buy and pay for things like clothes, holidays and even bills for their adult children, doling out an average of £324 a month. While 79 percent say they always buy their children a birthday and Christmas present, 17 percent only receive gifts back occasionally, while one in ten (13 percent) never get one in return. As a result, four in ten (41 percent) admit that they get annoyed about having to pay out so much for their adult kids. Chris Rudden, head of investment consultants at digital wealth manager, Moneyfarm, said, 'It is evident that many parents are quietly hoping for a financial tipping point, where the years of giving gradually give way, from the age of 30, to moments of receiving. 'While it is clear that most parents are happy to continue financially helping their children well into adulthood, there is clearly a growing desire to see that support reciprocated in meaningful ways. From small acts like an invite to dinner or a home-cooked meal to bigger gestures, if they can be afforded, these milestones reflect a shift in how families view financial inter-dependence. 'These financial milestones represent more than transactions, they are about finding joy and satisfaction in your children thriving enough to be able to give back.'
Time of India
27-06-2025
- Automotive
- Time of India
European shares rise on easing US-China trade tensions
European stocks rose on Friday, led by automakers , as signs of easing trade tensions between Beijing and Washington raised hopes of a de-escalation in the U.S.-led tariff war. The pan-European STOXX 600 index advanced 0.9% at 542.27 points, as of 0825 GMT. The index was on track to log its first weekly gain in three weeks. Other major regional indexes also traded higher. A White House official said on Thursday that Washington has reached an agreement with China on how to expedite rare earths shipments to the U.S. With worries about tensions in the Middle East easing for now, investors are focused on signs of progress on new trade deals before a respite on higher tariffs threatened by U.S. President Donald Trump expires in early July. EU leaders discussed new proposals from the U.S. on a trade deal at a summit in Brussels on Thursday. Commission President Ursula von der Leyen did not rule out the likelihood of tariff talks failing, saying "all options remain on the table". Live Events "There's lots of negotiation going on and it takes any sign that tensions are not going to re-escalate, would be taken positively," said Richard Flax, chief investment officer at Moneyfarm. "A deal will take longer...I think both sides will try and be able to declare enough progress to be able to extend the process without seeing tariffs rise again." European automobile stocks led sectoral gains with a 1.8% climb, followed by media shares that rose 1.6%. UK's JD Sports advanced 7.6%, while German sportswear makers Puma and Adidas gained 4.1% and 3.9%, respectively, after U.S. peer Nike's first-quarter revenue outlook exceeded market expectations. Indra gained 4.8% after Morgan Stanley upgraded the Spanish defence company to "overweight" from "equal-weight". Shares in the Knorr Bremse fell 4.7% after JP Morgan and Citi downgraded the German truck manufacturer to "neutral" from "overweight" and "buy", respectively. In the U.S., investors await the release of the core PCE price index due later in the day, which could offer additional clues on the Federal Reserve's rate trajectory. Meanwhile, adding to tailwinds, U.S. Treasury Secretary Scott Bessent on Thursday asked Republicans in Congress to remove the "retaliatory tax" proposal that would let Trump impose up to 20% taxes on foreign investors from countries with "unfair" taxes on U.S. firms.
