Why is it rising? Why is it falling? Some explanations on the unusual variations which affect shares during the day’s session on European markets. Only when they are reliable and documented: we avoid telling nonsense as much as possible. Variations are taken at the time of writing the article.
Rising
Burberry (+17%): The British luxury group has presented a new strategy which aims to return to an annual turnover of 3 billion pounds sterling. Annualized savings of around £40 million are expected. The brand is going through a very bad patch and is no longer able to appeal. Last week, discussions about a possible takeover by Moncler were unsuccessful.
Scor (+10%): The reinsurer has completed the review of its life and health division, resulting in a result close to the best estimate previously communicated. On July 16, the group was forced to undertake “a review of assumptions” for the division, in other words to revise downwards its results forecasts in particular due to “actions taken on provisions”.
Alstom (+7%): The railway equipment manufacturer exceeded expectations with an adjusted operating profit of 515 million euros. The annual outlook is confirmed. JPMorgan welcomes the reduction in cash consumption with only €138 million used compared to €370 million expected by analysts.
ASML (+5%): The producer of lithographic machines for the manufacture of semiconductors has confirmed its objectives for 2030. At this time, revenues are expected between 44 and 60 billion euros with a gross margin between 56% and 60 %. ASML projects the semiconductor market to exceed $1 trillion by 2040, with average annual growth of around 9%.
BPM Bank (+3%): The Italian bank acquired a 5% stake in Banca Monte dei Paschi di Siena, saying it does not plan to increase its share beyond 10%.
Declining
SMA Solar (-15%): The German manufacturer of solar energy conversion systems has reduced its annual forecasts and announced a staff reduction plan of up to 1,100 positions. The market environment is very delicate.
Stadler Rail (-10%): The Swiss railway rolling stock manufacturer adjusted its revenue targets for 2024 and suspended its forecasts for 2025 and 2026 due to the impact of natural disasters on its production, leading to delivery and order delays postponed.
Leroy Seafood (-4.5%): The Norwegian seafood producer disappointed and reduced its harvest volume forecast for the year to 190,000 tonnes, a decrease of 3,500 tonnes from previous estimates.
WH Smith (-3%): The British retailer saw its profitability fall. Costs have increased.
Business
