Swiss Life first-quarter income jumps
Insurer Swiss Life said in a trading update on Tuesday that its fee income rose 3% year on year in the first quarter of 2025, reaching 659 million Swiss francs ($791 million).
Its premiums also rose by 6% from the previous year to 7.9 billion Swiss francs.
The company said its rising fee income was mainly due to strong performance across its own and third-party products and services, as well as the strength of its Swiss Life Asset Managers division.
— Chloe Taylor
British pound extends gains
The British pound was 0.2% higher against the U.S. dollar at 6:29 a.m. in London on Tuesday, extending its gains from the previous day to trade at around $1.338.
On Monday, sterling rose 0.6% against the greenback after the U.K. and the EU reached a landmark agreement to reset their post-Brexit relations.
What to keep an eye out for today
British telecom giant Vodafone Group is expected to report its 2025 financial year results.
Analysts polled by FactSet expect full-year total sales to be £31.74 billion ($42.39 billion), with a pre-tax profit of £1.84 billion. Earnings per share is expected at 7.10 pence.
UBS analysts expect the merger with U.K. competitor Three will add £470 million to adjusted profits, but will detract from free cash flow as the company will be forced to invest upfront.
“While easing declines in German service revenues should be a tailwind for the shares, the prospect of further [free cash flow] downgrades will likely weigh on the stock near-term,” UBS analyst Polo Tang added in an earnings preview note to clients on May 12.
The stock currently trades at nearly 5.3% expected dividend yield. Analysts forecast a dividend of 3.78 pence per share, according to FactSet.
U.K. baker Greggs and Swiss Life are also set to report earnings on Tuesday.
— Ganesh Rao
Here are the opening calls
Here are Tuesday’s opening calls.
European bourses are expected to open higher Tuesday, with London’s FTSE expected to open up 43 points at 8,726, Germany’s DAX up 92 points at 23,998, the French CAC 40 up 41 points at 7,908 and Italy’s FTSE MIB up 92 points at 40,330, according to data from IG.
— Holly Ellyatt