Breaking News: Europe
European markets trade higher as Trump win settles in; Fed, BoE decisions in focus
Climate change prevention is critical for insurers, CFO says Climate change prevention is becoming far more significant for insurance companies as they face rising losses from destructive weather events, such as hurricanes and floods. Zurich Insurance Group’s Chief Financial Officer Claudia Cordioli told CNBC that the insurer had seen “very severe cat [catastrophe] and weather […]
Read More
German Chancellor Olaf Scholz fires Finance Minister Christian Lindner, leaving ruling coalition in disarray
German Chancellor Olaf Scholz and Finance Minister Christian Lindner in the Bundestag on June 26, 2024 in Berlin, Germany. Michele Tantussi | Getty Images News | Getty Images Chancellor Olaf Scholz announced Wednesday he had dismissed Finance Minister Christian Lindner, possibly bringing an end to Germany’s ruling coalition after months of political wrangling. The three-year-old […]
Read More
Novo Nordisk quarterly profit meets expectations as Wegovy maker narrows full-year guidance
Jakub Porzycki | Nurphoto | Getty Images Novo Nordisk on Wednesday reported third quarter earnings broadly in line with expectations and narrowed its 2024 full-year growth guidance. The Danish pharmaceutical giant said that its net profit in the third quarter hit 27.3 billion Danish kroner ($3.92 billion), above an LSEG aggregate estimate of 26.95 billion […]
Read More
European stocks head for lower open as global markets focus on U.S. vote count
Novo Nordisk quarterly profit meets expectations Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | Reuters Novo Nordisk on Wednesday reported third quarter earnings broadly in line with expectations and narrowed its 2024 full-year growth guidance. The Danish pharmaceutical giant said that its […]
Read More
European markets little changed as traders focus on U.S. Election Day; Schroders falls 11%
Schroders shares tumble 13% after third-quarter trading update Shares of Schroders tumbled by more than 13% soon after markets opened on Tuesday, hitting levels last seen in March 2020, according to LSEG data. Schroders on Tuesday reported quarterly net outflows of client funds worth £2.3 billion ($2.99 billion). The company attributed this to market volatility […]
Read More
European markets rise as traders gear up for U.S. election; Burberry shares rise 4.8%
European markets were higher on Monday after a lacklustre start to the day with all eyes on the U.S. presidential election due to take place on Tuesday. The pan-European Stoxx 600 was last 0.26% higher at 10:06 a.m. London time, with regional bourses and sectors widely trading higher. Oil and gas, autos and bank stocks […]
Read More
UK’s Conservatives name Kemi Badenoch as new leader, shifting the party further to the right
Conservative leadership contender Kemi Badenoch delivers a speech on the final day of Conservative party conference at Birmingham ICC Arena on October 2, 2024 in Birmingham, England. Dan Kitwood | Getty Images News | Getty Images LONDON — The U.K.’s opposition Conservative Party on Saturday named right-wing Kemi Badenoch as its new leader, closing a […]
Read More
European markets expected to start November in mixed territory as traders await U.S. jobs data
Commuters cross Millennium Bridge in view of skyscrapers on the skyline of the City of London, UK, on Tuesday, Oct. 29, 2024. Bloomberg | Bloomberg | Getty Images European markets are expected to open mixed on Friday, reflecting a tentative start to November as traders react to a flurry of earnings and look ahead to […]
Read More
UK borrowing costs soar day after Labour government unveiled tax-raising budget
LONDON — U.K. bond yields spiked sharply Thursday after the ruling Labour Party unveiled a sweeping package of tax hikes and increased borrowing. The 2-year gilt yield had jumped 20 basis points by 2:33 p.m. in London, breaching 4.5% for the first time since Labour took office in early July. The 10-year yield was 15 […]
Read More
Euro zone inflation rises to higher-than-expected 2%, weakening case for jumbo rate cut
Line-up of pumpkins in the Netherlands, on Oct. 27, 2024. Nurphoto | Nurphoto | Getty Images Inflation in the 20-nation euro zone rose to 2% in October, preliminary figures released by statistics agency Eurostat showed Thursday. Economists polled by Reuters had forecast a headline figure of 1.9%. The September headline reading was revised down to […]
Read More