indexes in this article
China Everbright shares rose 8.8 percent. The financial services provider assumes a loss of between HKD 2.60bn and HKD 2.80bn in the first half of the year. SK Bioscience shares increased by 1.1 percent. The American vaccine manufacturer Novavax announced an agreement with SK Bioscience to produce the Covid-19 vaccine, which also protects against the omicron virus variant. The daily winners in Sydney were Megaport shares, which rose 23 percent. The company published quarterly results for the first time.
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Risk premiums related to European bond defaults continued to decline on Wednesday. In view of the supply of Russian gas, fears of a recession in Europe, mainly due to dependence on Germany, have significantly weakened. All risk markets are in a good mood. Spreads fell on average around 8 percent from the peak at the start of the week.
The risk premiums on Italian bonds are also more relaxed at 154 basis points against the speech of Italian Prime Minister Mario Draghi to parliament. It is said that his will to resign cannot be ruled out. While this could impact CDS yields and premiums, market participants are betting on the ECB on Thursday and that it will provide a convincing tool to combat the growing earnings differentials. Eurozone introduces.
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realized and earned slightly more from operations in the second quarter than expected. Based on surprisingly presented key data, the highly profitable tire division once again performed remarkably well in three months. The Automotive division, on the other hand, recorded an operating loss. The DAX-listed automotive supplier confirmed in April a lowered outlook for the entire year. As the Hanover-based group announced, second-quarter sales reached 9.4 billion euros. Compared to the previous year, this is an increase of 13%. According to a survey of companies, analysts expected only EUR 9.2 billion. On the other hand, the adjusted EBIT margin of 4.4 was significantly lower than last year’s 6.2 percent. However, analysts admitted Conti only 4.2 percent. credit. As in previous quarters, Conti was influenced by special effects.
saw lower sales and profits in the last fiscal year due to the weaker automotive market. However, the company, which now belongs to the French group Forvia (formerly Faurecia), has achieved its promised goals. Sales were down 2.4 percent to EUR 6.2 billion in the twelve months to end May, as announced. Adjusted operating profit fell significantly to around 280 million from 510 million in 2021/22 due to investments in future technologies and increasing cost burdens. The corresponding adjusted EBIT margin reached 4.4 after 8.0 percent in the previous year.
According to press reports, details of the rescue of the gas supplier Uniper appear. Handelsblatt cites an article by the Federal Ministry of Economy for the Bundestag’s Climate and Energy Committee which states: “To cover the accumulated losses, combine the capital increase with a federal government share target of 30%. Uniper and further hybrid capital are planned. “In addition, the federal government would have to increase existing loans from the state’s KfW-Fderbank from € 2 billion to € 8 billion in order to provide short-term liquidity to buy substitute gas or to hedge hedging positions. Margins are reserves that energy suppliers have to lay up. on stock exchange transactions.
The Federal Constitutional Court in Karlsruhe has dismissed several complaints about the ban on hiring freelance workers in the meat industry. Under the decision, meat processors who wish to take action against the ban must disclose their business structure and explain in detail what activities have been used and to what extent workers and temporary workers.
VILLEROY & BOCH
benefited from strong demand in both segments of the company in the first half of the year. The ceramics producer significantly increased sales both in the Bathroom & Wellness area and in the Dining & Lifestyle segment. Strong growth more than offset the spike in material and energy costs. In its forecast for the full year, Villeroy & Boch AG is tending to the upper end of the range.
had to contend with supply chain disruptions, and in particular with China’s corona lockdown in the second quarter. In the core business, the margin of the company owned by the Chinese Zhejiang Geely Holding group has dropped significantly. In three months, Volvo Cars saw a 2% decrease in sales to 71.3 billion kronor, corresponding to 6.75 billion euro.
Although sales increased significantly in the second quarter, profits fell more than analysts expected due to high costs. The Dutch paint manufacturer, which owns the Dulux, Polycell and Cuprinol brands, reported sales of EUR 2.85 billion in the quarter, after EUR 2.51 billion each. According to the spread consensus, analysts expected only EUR 2.73bn on the company’s website. As previously announced, the net profit dropped significantly to just 106 million from 261 million in the previous year. Analysts expected more here for 177 million euros.
benefited in the second quarter from the continued high demand from the chip sector. The Dutch supplier to the semiconductor industry saw strong growth in sales and profits. The group, however, lowered its growth forecast for the full year due to the shift in sales.
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(END) Dow Jones Newswires
July 20, 2022 07:17 ET (11:17 GMT)