Live Markets: European futures edge lower, Barclays unveils overhaul
20/02/2024 07:43
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EUROPEAN FUTURES EDGE LOWER, BARCLAYS UNVEILS OVERHAUL
European shares were set to open lower on Tuesday, after a cut in China's mortgage rate
failed to impress markets, which were awaiting for Nvidia numbers on Wednesday to gauge the
potential for an AI-driven global rally to continue.
EuroSTOXX50 STXEc1 and FTSE FFIc1 futures both fell around 0.2%, with earnings releases
keeping traders busy, while U.S. contracts also pointed to a soft start on Wall Street following
the long holiday weekend.
Barclays BARC.L reported annual profit fell 6%, in line with expectations, as its CEO set
out plans including cost cuts, a management overhaul and asset disposals to improve the bank's
performance and lift its share price.
Temenos TEMN.S , which is seeking to rebuilt investor trust following of Hindenburg's
allegations of financial irregularities, forecast slower 2024 earnings growth ahead of its
capital markets day in London.
Swiss fibre and metal coating maker OC Oerlikon OERL.S said it was exploring options to
separate its polymer processing business from the group, after 2023 core earnings fell 13.4% due
to a downturn in the division.
Fresenius Medical Care FMEG.DE said it expects its core earnings to grow by a mid- to
high-teens percentage this year, after the German dialysis specialist's Q4 earnings topped
expectations.
French industrial gases firm Air Liquide AIRP.PA posted better-than-expected FY operating
profit and said it already reached the 2025 margin targets it previously announced as part of
its strategic plans.
Back in the UK, Holiday Inn owner IHG IHG.L said it expected to return more than $1
billion to shareholders in 2024 after reporting better-than-expected annual revenue per room.
Online trading platform Plus500 announced shareholder payout worth $175 million,
even as it posted a fall in annual profit hurt by lower trading volumes.
(Danilo Masoni)
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