Shares
The defence sector has emerged as one of the best performers in the past two years, spurred by the Ukraine-Russia war. Notably, the European defence and aerospace stocks have been outpacing their US peers, with Germany's biggest arms manufacturer, Rheinmetall's shares soaring approximately 540% since February 2022. Other defence stocks such as the biggest British aerospace manufacturer, BAE Systems, and the French defence corporation, Safran, rose 114% and 176%, during the same period. However, the record run has taken a breather following a cautionary note from the investment bank Goldman Sac...
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The bank said the program will start on 3 April 2024 and end at the latest on 2 April 2026 or earlier, if either the maximum amount of $2 billion has been reached or 10% of the registered share capital has been repurchased. "Based on the closing price of the UBS registered share on the SIX Swiss Exchange on 27 March 2024 and the closing USD/CHF FX rate on 27 March 2024, this corresponds to some 64.1 million registered shares or around 1.85% of the registered share capital of UBS. The share repurchase will be conducted via a separate trading line on the SIX Swiss Exchange. The shares will be re...
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On Wednesday, it was reported by Reuters that ProSiebensat.1 called on its shareholders to vote down its top investors' proposals at the annual general meeting next month. MFE, which operates commercial TV businesses in Italy and Spain, is controlled by the family of the late former Italian Prime Minister Silvio Berlusconi. Which cities in Europe are the best for start-up businesses?The company is aiming to spin off ProSieben's e-commerce and dating assets from the group's core TV operations, Reuters said. "In the opinion of the executive board and the supervisory board, a split-up ... lies in...
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Puma is planning to return up to 50% of its net income to shareholders through dividends and share buybacks, in a scheme that will see the German sportswear company buy back shares worth up to €100 million in total. The company said on Thursday that it had decided to change its dividend policy to a payout ratio of 25-40% of the group's net income, up from 25-35%, supplemented by the share buyback programme which will take the total payout to up to 50%. "The first tranche provides for the buyback of own shares with a total purchase price of up to €100 million and starts in March 2024 for a peri...
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Amazon is joining the likes of Microsoft, Apple, Disney and other giants on the Dow Jones Industrial Average (DJIA), the stock market index of 30 prominent companies listed on stock exchanges in the United States. As one of the three most popular stock indexes in the US, Dow, which debuted in 1896, is known for providing a reliable reflection of how the most value-oriented, well-established and large-cap companies are performing, and whose prices tend to be less volatile. The e-commerce giant will replace drugstore operator Walgreens Boots Alliance on the Dow, before the opening of trading on ...
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Shares in Barclays climbed 4.77% on the London Stock Exchange in early trade after the bank reported its latest financial results \- and announced an extensive structural overhaul. Total group income rose by 2% to £25.4 billion, although the fourth quarter contribution of £5.6 billion was shy of the expected £5.8 billion. Net interest income (NII), meanwhile, jumped by 20% to £12.7 billion year-over-year, with higher interest rates continuing to provide a tailwind. Pre-tax profit for 2023 came in at £6.6 billion, falling from £7 billion in 2022. Denmark's GDP soars thanks to growing pharma sec...
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The favourable share price follows the company reporting its latest quarterly profit of €6 million on high travel demand, beating analyst estimates. Revenues also soared 15% year-on-year to €4.3bn, while winter and summer bookings were up 8% year on year. TUI also maintained its full-year forecast of a 10% increase in revenues and a 25% uplift in profits. UK chipmaker Arm sees shares nearly double in less than a weekIn a statement, Sebastian Ebel, the chief executive of Tui, said: “People’s willingness to travel is still high, despite a market environment that remains challenging. We are on tr...
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Athens International Airport SA shares had a staggering start on the stock exchange in the Greek capital, following strong investor interest in what is being called the biggest initial public offering (IPO) in two decades in the country. The price soared by 15% at the start of the trading, Bloomberg reported. It comes after Greece completed a major privatisation last Friday, selling its 30% stake in the biggest airport operator in the tourism-reliant country during an initial public offering, releasing the shares on the Athens stock exchange on Wednesday. The trade started at €9.40, which prov...
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Germany’s biggest bank added detail to long-term redundancy plans on Thursday, as it prepares to lay off 3,500 employees by 2025. The move comes in response to floundering share prices and falling financial gains, with Deutsche Bank announcing a net profit of €1.26 billion in the final three months of 2023. This figure is down from the €1.8 billion recorded a year earlier, as the bank was weighed down by restructuring expenses, one-off costs, and a higher tax bill. Revenue, the income generated without accounting for expenses, was up 5% on the year at €6.66 billion euros, and pretax profit was...
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European shares closed the week on an upbeat note, drawing optimism from the record performance of the S&P 500 this week, which was at all-time highs of $4,894.17 (€4,500.34) on Friday afternoon. A surprisingly robust advance estimate for the Q4 2023 US gross domestic product (GDP) report contributed significantly to the positive sentiment. The CAC 40 index inched up 2.52% this week to €7,637.8, with the Stoxx 600 index also rising 2.71% to €484.1. The FTSE 100 index closed up 2.46% at £7,640.9 (€8,956.2). Gold dropped 0.35% to $2,021.3 per ounce while Brent crude oil prices inched up 4.93% to...
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