UniCredit and Intesa Sanpaolo were among the leading decliners in Italy after the windfall tax announcement. Bayer AG reported a net loss in the second quarter. Glencore Plc said first-half profit plunged on weak commodities prices.
UK home builders traded down on the ongoing housing market challenges. LSL Property issued a profit warning for the second half. Siemens Energy lowered its annual outlook.
WPP lowered its annual outlook on macroeconomic headwinds. BNP Paribas announced a stock buyback plan. Credit Agricole reported earnings ahead of market expectations. Sika AG revised higher its annual outlook.
Lufthansa reported record second quarter net profit. BMW cautioned inflation and supply chain headwinds. Infineon reported a decline in adjusted profit. Rolls-Royce first-half profit rose on higher margins in civil aviation.
HSBC said profit increased because of higher interest rates and resumed dividend payments. BP Plc hiked its quarterly dividend. TeamViewer said earnings rose because of higher sales and lower financing costs.
BT Group appointed a new chief executive. Heineken lowered its annual earnings guidance. Marshalls lowered its annual earnings views citing macroeconomic headwinds and the weakness in the second-half.
IAG SA reported higher-than-expected earnings. Standard Chartered and Natwest said higher interest rates supported earnings growth in first-half. Hermes International reported better-than-expected sales in the second quarter.
BNP Paribas announced that the bank plans to start repurchasing its stock from the next month. Airbus said net income in the first-half declined but Safran SA revised higher its annual estimate. Volkswagen trimmed its annual outlook.
Natwest Group chief executive unexpectedly resigned. Deutsche Bank reported weak earnings. MTU Aero Engines guided headwinds for free cash flow. Danone SA will take a charge for separating its Russian joint venture. LVMH sales in the U.S. declined.
Vodafone reported better-than-expected revenue in its latest quarter. S4 Capital lowered its annual sales growth outlook. Alstom signed a contract with the Germany based RAILPOOL for rolling stock leasing.
Volvo AB reported higher revenue and earnings in the latest quarter but new orders declined in Europe and in the U.S. Kering SA announced management shuffle to strengthen its operations and governance.
Novartis lifted its annual earnings outlook and announced a plan to buyback its shares and spin off Sandoz. SEB AB reported better-than-expected earnings.
Richemont said quarterly sales in Europe and Asia Pacific rose but declined in the Americas. Resource and mining stocks declined after crude oil and copper prices fell 1%. Luxury stocks in Paris plunged 4% on China growth worries.
The troubled French retailer Casino Guichard reported a decline in comparable sales in France. BASF SE lowered its full-year earnings outlook and reported a sharp fall in quarterly earnings. UK homebuilders fell after Barratt Developments issued a cautious outlook.
Coca-Cola HBC revised higher its earnings outlook. Airbus reported a jump in aircraft orders driven by a surge in demand from India. Clariant AG lowered its 2023 outlook.
