Axa has backed its midterm targets despite profit miss
Axa has backed its midterm targets despite a first half net profit miss, citing currency fluctuations.
Net income at the insurance and asset management giant dipped 2% on the year to 3.9 billion euros.
— Jonathan Stayton
Pharma giant Bayer has raised sales forecast
Pharma giant Bayer has raised its 2025 sales forecast – anticipating annual sales of 46 to 48 billion euros, up 1 billion euros at both ends of the range.
It also announced it put aside 1.2 billion euros for ongoing litigation in the United States related to weed killer brand Roundup.
The group is set to report quarterly earnings on 6 August.
— Andreea Gheorghe
Daimler Truck falls 4.7% in pre market on key forecast cut
Daimler Truck has cut key forecasts, citing market weakness in North America.
The German firm now expects full year adjusted profit of between 3.6 and 4.1 billion euros ($4.7 billion), reflecting a drop of as much as 23 percent.
The group also lowered is sales volume outlook for the North American market.
The stock is down 4.7% in pre market.
— Domi Suskova, Ganesh Rao
European stocks set to open lower amid Trump’s tariff rejig
Good morning from London, and welcome to CNBC’s live blog covering all the action and business news in European financial markets on Friday.
Futures data points to losses at the open for European indexes, with London’s FTSE 100 expected to open 0.2% lower, France’s CAC 40 unchanged, Germany’s DAX down 0.6%, and Italy’s FTSE MIB 0.1% lower.
The Stoxx Europe 600 index and Euro Stoxx 50 index are expected to open 0.3% and 0.5% lower, respectively.
AXA, Daimler Truck, Melrose Industries, Saint-Gobain, Euronext, IAG, Pearson and Engie are among the heavyweight regional companies reporting their results today.
— Ganesh Rao
