Stocks, News, Data & Earnings | Wilnesh News

Italy’s largest bank Intesa Sanpaolo Amid rising M&A prospects in Italy’s banking sector, Bank of Italy sees benefits in staying away from the consolidation trend currently sweeping the country, Chief Executive Carlo Messina said on Tuesday.

His remarks at a business conference in Milan were reported by Reuters for Italy’s second-largest bank UniCredit Bank Launched two separate takeover bids for domestic rivals BPM Bank and german Commerzbank. Banco BPM has ambitions to acquire control of fund management company Anima Holding.

Analysts warn that banking consolidation efforts often drain logistical resources and distract management boards during the integration process.

— Ruksandra Jordash

Britain’s competition watchdog said on Tuesday it was launching a formal antitrust investigation into Google’s search and search advertising services.

Read the full story here.

— Ryan Brown

Shares in Games Workshop, maker of miniature war games such as “Warhammer”, were down 2.5% as of 10:01 a.m. London time.

The company reported half-year revenue of 269.4 million pounds ($329.1 million), up from 235.6 million pounds a year earlier. However, the dividend has been reduced, at £1.85 per share, down from £1.95 in the first half of 2023.

— Chloe Taylor

Shares in London-listed retailer Card Factory rose more than 8% after the company reported encouraging fourth-quarter financial results.

The company reported total sales rose 6.2% to 506.6 million pounds ($619.13 million) in the 11 months to December 31, as the retailer added 32 new stores to its portfolio.

“for cardcapture market share and outperform,” Investec analyst Kate Calvert said in a note to clients Tuesday morning.

— Ganesh Rao

Shares in British online grocery retailer Ocado were up 12.6% as of 9:04 a.m. London time report Its Ocado Retail unit, a joint venture with British retail giant Marks & Spencer (M&S), hit record Christmas sales.

According to the latest trading data released on Tuesday, the division’s fourth-quarter revenue increased by 17.5% year-on-year to 715.8 million pounds ($873.5 million), and sales increased by 17%.

— Chloe Taylor

Daimler Trucks declare On Tuesday, Amazon ordered more than 200 eActros 600 vehicles for use in the UK and Germany.

Daimler said it was the tech giant’s largest ever order for electric heavy trucks and Mercedes-Benz Trucks’ largest electric truck contract to date. Daimler makes trucks sold under various brands, including Mercedes-Benz.

The vehicles will join Amazon’s fleet this year and are expected to transport more than 350 million packages annually.

shares Daimler At 8:43 a.m. in London, it was up 1.8%.

— Chloe Taylor

After British sportswear retailer JD Sports released its earnings report, its share price fell 10.5% as of 8:20 a.m. London time. Transaction updates Among other things, it lowered its profit guidance.

JD Sports said it now expects pre-tax profit before adjustments for this financial year to be between 915 million pounds ($1.12 billion) and 935 million pounds. Come back in Novemberthe company gave a guidance range of £955 million to £1.035 billion.

— Chloe Taylor

British energy major blood pressure Tuesday explain Lower refinery margins and turnaround activity will hit its fourth-quarter profits by $100 million to $300 million, and oil production is expected to decline further.

The company, which reported quarterly and full-year 2024 earnings on Feb. 11, said in a trading update that results from its oil production and operations segment would result in a fourth-quarter loss of $200 million to $400 million given the lagging prices in the Gulf of Mexico. and UAE production. Therefore, oil trading performance is expected to be weak during this period.

BP said its activities in natural gas and low-carbon energy will add $100 million to $200 million to fourth-quarter results, including price changes unrelated to the Henry Hub gas mark. Nonetheless, the main forecast is that natural gas trading will be “average” during this period.

In the upstream sector, BP expects production in the oil, gas and low carbon sectors to be lower in the fourth quarter than in the third quarter. Nonetheless, the company expects overall production in 2024 to be “slightly higher” than in 2023.

More broadly, the company expects fourth-quarter non-cash after-tax charges of $1 billion to $2 billion across all segments.

BP has been weathering a storm as falling oil prices hit revenue and scandals related to the departure of former chief executive Bernard Looney. Chief Executive Murray Auchincloss is expected to use the company’s capital markets activity to bolster confidence in the specialty strategy.

On Tuesday, BP said an event originally scheduled for February 11 in New York had been postponed to February 26 in London. The report further states that Auchincloss is “recovering well” from the planned medical procedure and will return to the office next month.

BP shares fell 2.75% after the market opened at 08:02 am London time.

— Ruksandra Jordash

Major European currencies were higher on Tuesday morning after hitting multi-year lows against the U.S. dollar on Monday.

The euro and pound were both up about 0.1% as of 7:33 a.m. London time. The U.S. dollar index, which measures the greenback against a basket of rival currencies, hit its highest level in more than two years on Monday, following better-than-expected U.S. jobs data late last week.

— Chloe Taylor

Technology stocks continue to dominate investors in 2024, with many investors favoring some of the so-called “Big Seven” stocks. letter, Amazon, apple, meta platform, Microsoft, NVIDIA and Teslaas well as other less well-known small and medium-sized companies.

Major Asset Management’s Martin Frandsen continues to see potential in the top seven stocks this year, but also sees value in the rest of the sector.

Elsewhere, Michele Schneider, chief market strategist at Marketgauge.com, sees opportunities in a range of high-growth sectors that “will provide attractive returns from the strategic reallocation of undervalued assets.” .

She also revealed three tech stocks she is currently betting on.

CNBC Pro subscribers can read more here.

— Amala Balakrishna

The S&P 500 and Dow Jones Industrial Average closed higher on Monday.

The broader market index rose 0.16%, and the Dow Jones rose 0.86%.

The Nasdaq, which is dominated by technology stocks, underperformed the broader market and closed down 0.38%.

— Kim Ha Kyung

European markets are expected to open higher on Tuesday.

British FTSE 100 The German stock index is expected to open 4 points higher at 8,226 German DAX Index France rose 106 points to 20,241 CAC Up 66 points to 7,472 points, Italy FTSE MIB It rose 272 points to 35,082 points, according to IG data.

Trading updates will come from Ocado, JD Sports, persimmon and omway Tuesday. Lindt The latest financial report will be released.

— Holly Elliot