Business news from Ukraine

European equity markets are mostly down on Tuesday after a long weekend. Investors are evaluating issuers’ reports and statistical data and are waiting this week for decisions on interest rates in the eurozone and the U.S.
The Stoxx Europe 600 composite index of the region’s largest companies lost 0.3 percent to 465.5 points as of 11:53 a.m.
The British FTSE 100 was little changed during the session. France’s CAC 40 is down 0.4%, Spain’s IBEX 35 is down 0.7%, Germany’s DAX is down 0.3%. Italy’s FTSE MIB is up 0.2%.
This week traders’ attention is focused on the U.S. Federal Reserve (Fed) meeting to be held on May 2-3. Experts generally expect the U.S. central bank to raise its benchmark interest rate by 25 basis points (bps) at the upcoming meeting, MarketWatch noted. Investors will be waiting for signals from the Federal Reserve as to whether it is willing to pause in its policy tightening cycle.
The European Central Bank (ECB) is also meeting this week and its results will be summarized on Thursday. The consensus analyst forecast cited by Trading Economics expects the ECB’s lending and deposit rates to rise by 25 bps.
The annual growth rate of consumer prices in the euro area in April was 7%, according to preliminary data from the EU statistics office. The index coincided with the experts’ forecasts.
Meanwhile, retail sales in Germany decreased by 2.4% in March against the previous month, while analysts on average expected the index to increase by 0.4%.
The shares of French TotalEnergies went down in price by 1.7%. The firm entered into an agreement to buy liquefied natural gas (LNG) from Adnoc Gas, a unit of Abu Dhabi National Oil Company. The deal is expected to be worth $1-1.2 billion at current prices.
Rival BP Plc cut its key profit figure by 20.5% in the first quarter. The British oil and gas giant’s stock quotes are down 5.1%, although the above figure beat market forecasts.
Other representatives of the commodity sector are also the leaders of the decline in the UK. Rio Tinto capitalization is down 2.2%, Anglo American – 1.6%, BHP Group – 1.5%.
In turn, one of the growth leaders is HSBC Holdings Plc. The credit institution more than tripled its net profit in the first quarter and added 5.6% in market value.
Shares of other European banks also rose in price, including BNP Paribas – by 0.2%, Societe Generale – by 0.9%, Credit Agricole – by 0.4%, UniCredit – by 1.5%, Intesa Sanpaolo – by 0.5%.
The capitalization of Sweden’s Electrolux AB rises 2.3% after news about the possibility of its purchase by China’s Midea Group.

European stock markets are demonstrating multidirectional fluctuations in the course of trading on Friday, traders are assessing the next portion of statistical data.
The composite index of the region’s largest companies Stoxx Europe 600 had gained 0.13% to 439.90 points by 10:20 a.m. Ksk.
Germany’s DAX stock index declined during trading by 0.04%, Spain’s IBEX 35 – by 0.07%. At the same time British FTSE 100 added 0.37%, French CAC 40 gained 0.06% and Italian FTSE MIB gained 0.2%.
Germany’s retail sales rose 1.1% in November compared to the previous month, according to data from the country’s Federal Statistics Office (Destatis). Analysts polled by Trading Economics expected retail sales in the month before last to rise by 1%. The figure fell 2.8% in October, as previously reported.
Germany’s factory orders fell 5.3% in November compared with the previous month, the German Economy Ministry said. The index declined as much as possible since October 2021. Analysts, according to Trading Economics, on average expected a decrease of the index by 0.5%.
Consumer spending in France in November 2022 increased by 0.5% compared with the previous month, according to data from the National Statistics Office Insee. Analysts polled by Bloomberg expected a more robust rise of 1.1%. The consensus forecast of experts interrogated by Trading Economics provided growth of the index by 1%.
Market participants are waiting for the publication of the preliminary data on changes in consumer prices in the euro area in December, which will be made public at 12:00 KSC. Also, at that time, the European Commission will publish a composite index of confidence in the euro area economy for December.
Stellantis NV shares are down 1.2%. The European automaker must work to cut costs around the world so that it doesn’t raise the price of electric cars, keeping them “affordable” for the middle class, Chief Executive Officer Carlos Tavares said. Among the cost-cutting measures, he cited reducing the number of the company’s factories.
Norwegian hydrogen producer NEL ASA is leading the growth among the components of the Stoxx Europe 600 index, rising 6.3%. Also steadily rise in price papers of Swedish manufacturer of electrical appliances Electrolux AB (+5.2%) and the owner of the second largest in Europe clothing chain Hennes & Mauritz AB (+5%).
The leaders in the fall are the securities of Swedish media and entertainment company Viaplay Group AB, which are cheapening by 5.3%.

European stock markets continue to decline on Wednesday for the sixth session in a row on investor anxiety due to further economic growth and rising interest rates in the world.
Traders are waiting for the publication of data on changes in US consumer prices in September, which may indicate how effective the tightening policy of the US Federal Reserve System (FRS) is. The report of the Ministry of Labor of the country will be published on Thursday at 15:30 square meters. Analysts expect U.S. inflation to slow to 8.1% last month from 8.3% in August, according to Trading Economics.
The composite index of the largest enterprises in Europe Stoxx Europe 600 fell by 11:20 qoq by 0.4% to 386.39 points.
The German DAX is losing 0.4%, the French CAC 40 – 0.18%, the British FTSE 100 – 0.1%. The Italian FTSE MIB and the Spanish IBEX 35 are down 1% each.
UK GDP in August fell by 0.3% in monthly terms after rising by 0.1% in July, data from the country’s statistics agency ONS showed. Experts on average expected that the volume of the country’s economy in the month before last would not change compared to July, according to Trading Economics.
In annual terms, UK GDP growth slowed to 2% from 3.1% in July.
Industrial production in the UK fell 1.8% in August from July after falling 1.1% a month earlier, the ONS report also said. At the same time, the volume of production in the manufacturing industry fell by 1.6%, in the mining industry – by 8.2%, and in power generation – by 0.6%.
In annual terms, industrial production in the country in August fell by 5.2% compared with a decline of 3.2% a month earlier.
The UK trade deficit widened to £7.1bn ($7.8bn) last month from £5.4bn in July. Imports rose 4.3% m/m to a record £75.3bn, exports up 2.2% to £68.2bn.
Consumer goods and medical equipment maker Royal Philips NV shed 8.4%. The Dutch company said its third-quarter like-for-like sales were down about 5% due to stronger-than-expected problems in its electronics supply chains.
Among the decline leaders in the Stoxx 600 is also TAG Immobilien AG (-9.3%), which operates in residential real estate.
Meanwhile, LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury goods maker, is up 2.2%. The company on Tuesday evening after the close of trading published a statement in which it said that its revenue in the third quarter of 2022 increased by 27%, surpassing market forecasts.
Danish biopharmaceutical company Chr. Hansen Holding AS surged 12.7% after posting strong third-quarter results and a promising full-year outlook.

Stock markets in Western Europe are falling during trading on Monday amid persistent concerns about high inflation and rising interest rates in the world’s leading economies.
The composite index of the largest companies in the region Stoxx Europe 600 fell by 1.26% by 11:41 a.m. to 382.97 points.
The German DAX fell 1.3%, the French CAC 40 fell 1.4%. The Italian FTSE MIB and the Spanish IBEX 35 are down 0.9% and 0.7% respectively.
The British stock index FTSE 100 is down 1% after the international rating agency S&P Global Ratings changed to “negative” from “stable” the outlook for the long-term ratings of the UK. The ratings themselves have been affirmed at ‘AA’.
As reported, the UK government at the end of September unveiled a tax cut plan in addition to its previously announced measures to provide widespread support to households to pay their electricity bills. As a result, according to S&P analysts, the country’s budget deficit will increase annually by an average of 2.6% of GDP until the end of 2025.
Investors also evaluate European statistics.
As it became known on Monday from the final data of S & P, the Purchasing Managers’ Index (PMI) in the manufacturing sector of the eurozone economy in September fell to 48.4 points from 49.6 points a month earlier. Preliminary data indicated a slightly more moderate decline – to 48.5 points.
In Germany, the manufacturing PMI fell to 47.8 from 49.1, in France it fell to 47.7 from 50.6, and in Italy the indicator rose to 48.3 from 48.
Shares of Credit Suisse fell 9% on Monday, despite statements from the head of the Swiss bank Ulrich Körner about the stability of the company’s finances. The bank’s management is expected to present a business reorganization plan at the end of October.
The price of shares of the French company Vinci is reduced by 0.8%, although earlier the company announced the receipt of two contracts for the construction of power transmission lines in Brazil for a total of 1.06 billion euros.
The capitalization of the British energy company Genel Energy is growing by 3.9%. The company announced the appointment of Paul Ware as its chief executive officer. Since June, he has held this position on a temporary basis.
ABB Ltd stock quotes. fell 7% after the Swedish-Swiss electrical equipment maker announced it had completed the spin-off of its Accelleron turbocharger business.
The decline leaders in the Stoxx 600 index, in addition to Credit Suisse, are Danske Bank (-8%) and tour operator Carnival Plc (-7.9%). Among the growth leaders are shares of salmon producer Bakkafrost (+8.3%), Swedish oil and gas company Orron Energy (+6.6%) and Norwegian Aker BP ASA (+5.5%).

The composite index of the largest companies in the region Stoxx Europe 600 by 11:41 a.m. fell by 1.6% and amounted to 383.18 points.

The British stock index FTSE 100 falls by 1.67%, the German DAX – by 1.43%, the French CAC 40 – by 1.44%. Italian FTSE MIB loses 1.51%, Spanish IBEX 35 – 1.57%.

The market was supported the day before by the Bank of England’s decision to suspend the start of the previously announced government bond sale program and instead start buying government bonds amid a sharp increase in their yield. The spike in yields on UK public debt was triggered by the previously announced massive tax cut, which, according to the British authorities, will increase the budget deficit in the current fiscal year by more than 70 billion pounds.

At the same time, investors continue to worry about the consequences of rising borrowing costs amid persistently high inflation and the worsening energy crisis in the region, writes Trading Economics.

Belgian retailer Etablissementen Franz Colruyt N.V. led the decline among the components of the Stoxx Europe 600 index, losing 20.9%.

Meanwhile, preferred shares of luxury car maker Porsche AG rose moderately on Thursday, the first day of trading after Europe’s biggest IPO in a decade. Porsche shares, which trade under the ticker “P911”, are worth 84.84 euros, compared to the placement price of 82.50 euros.

Next Plc shares are down 8.3% in early trading on Thursday. The British chain of clothing stores in the first financial half of the year received revenue less than expected and worsened its full-year forecast.

Swedish Hennes & Mauritz AB (H&M) lost 2.4%. The owner of Europe’s second-largest clothing chain saw a sharp decline in net profit in the third financial quarter due to a massive write-down caused by the winding down of operations in Russia.