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European shares open lower as profit season continues

2019-04-25 08:22 am | Resource: News | No Views : 73

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Stocks in Europe's main stock markets fell minutes after the session began on Thursday as investors focused on corporate earnings last night and today. in the UK  .

Where the Competition and Markets Authority officially banned the merger between Sainsbury and Asda. Royal Bank of Scotland (RBS) chief executive Ross McEwan has resigned.

Wirecard records 2018 revenue of € 2 billion, up 35% year-on-year

Wirecard's revenue in 2018 was 2 billion euros, up 35 percent from 2017, following "very good business performance," the German financial services provider said on Thursday. Earnings per share rose 2.81 euros from 2.07 euros, or 35 percent year-on-year. The volume of transactions processed increased by 37.3% to € 124.9 billion compared to last year.

The company said it would resume its focus on developing products for value added services in data analysis, digital loans and mobile payment solutions, as it continues to expand its business in the Asia-Pacific region.

With regard to allegations of fraud and erroneous accounting, Wirecard stated that the investigation conducted by the law firm to which the investigation was directed did not produce any results "material impact on the company's assets or profits and financial position.

" Although the investigation found no evidence to confirm the payments of closure, corruption or alleged evidence deceived by the company in connection with the granting of licenses, Wirecard states that "it is not possible to exclude an employee or other employee from having committed the crime penalties."

Sainsbury shares fall to 33-month low
British supermarket chain Sainsbury saw its shares fall more than 4 percent in early trade on Thursday after the UK competition and market regulator banned its acquisition of Asda Retail,

CMA found that the merger will lead to higher prices for customers. The decision "ignores the dynamic and highly competitive nature of the grocery market in the UK" and takes "£ 1 billion from customer pockets," Sainsbury CEO Mike Kobe said.

At 9:07 am CET, Sainsbury shares fell 3.75% to 218.10 pounds, the lowest level since July 7, 2016.

European Stocks Open
  • The FTSE 100 was down 0.69% at 9:15 CET.
  •  The DAX index was down 0.14% as ThyssenKrupp dropped 1.48%.
  • In France, the CAC 40 index fell 0.23%, with Peugeot down 2.59%.

The euro was steady against the dollar to trade against $ 1.11537 at 9:14 am and the pound gained 0.05% to close at $ 1.29094 at the same time.

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