L’Oreal warns the EU-U.S. trade deal would be costly
L’Oreal missed second-quarter sales forecasts, posting a 2.4% increase, as growth in Europe slowed more than expected.
The cosmetics group saw a small rebound in the U.S. and China, which helped to offset weakness in other regions.
However, the company said it will push for exemptions from U.S. tariffs, warning the EU-U.S. trade deal would be costly, according to Reuters.
— Domi Suskova
Siemens Healthineers beats top line expectations
Siemens Healthineers has topped revenue forecasts for the third quarter, posting 7.6% growth to 5.7 billion euros ($6.6 billion) year on year.
The German medical technology group raised the midpoints of its outlook, even as CEO Bernd Montag warned that geopolitical volatility remains high.
— Michael Considine
Santander reveals record net profit in the second quarter
Santander posted a record net profit in the second quarter, coming in at 3.4 billion euros ($3.9 billion) and topping expectations. The Spanish lender also unveiled a 1.7 billion euro share buyback program as it reiterated its full year outlook.
— Michael Considine
European stocks set to open higher as investors digest earnings season
Good morning from London.
There’s just under an hour and a half to go until stocks begin trading, with the futures tied to the Stoxx Europe 600 index pointing to a gain of 0.2% when stock markets open.
Regionally, the U.K.’s FTSE 100 and Germany’s DAX are expected to rise 0.2% as well. Meanwhile, France CAC 40 index is set to be nearly flat, according to FactSet data.
European companies including Santander, BASF, UBS, HSBC, Siemens Healthineers, Mercedes-Benz, L’Oreal and Kering have reported earnings.
— Ganesh Rao