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Stocks in Europe are trading flat after earnings reports

2019-04-26 08:27 am | Resource: News | No Views : 113

Stocks in Europe are trading flat after earnings reports

  European major stock markets mixed in early trade on Friday after a series of companies reported their financial results

Including Deutsche Bank, Sanofi, Astra Zeneca, Total, Renault, Daimler, Royal Bank of Scotland and Sony. The largest bank in Germany reported a 67% rise in net income to 201 million euros in the first three months of 2019, beating expectations.

Renault wants joint holding company with Nissan report

Renault S Erased a proposal by Nissan Motor Co. Ltd. to set up a joint holding company in which automakers would have an equal number of managers, Nikkei said on Friday. According to the report, the holding company will be based in a country other than France and Japan, with Singapore being cited as a potential location.

The proposal comes after Nissan refused to offer the merger from the French automaker earlier this month because of concerns that the deal would make the current inequality permanent. Renault now owns 43.3% of Nissan's shares, while the Japanese automaker owns only 15% of Renault. The two companies aim to strengthen their alliance, which is shaken by the arrest of Carlos Ghosn's CEO in late 2018.

Daimler's net profit fell 9% to 2.1 billion euros in the first quarter

Daimler said Friday its revenue was 39.7 billion euros in the first quarter of 2019, almost unchanged from the same period last year.

The automaker's net profit was 2.1 billion euros, down 9 percent from 2.4 billion euros in the same quarter last year, and EPS fell 8 percent year-on-year to 1.96 euros. EBITDA fell 16 per cent to € 2.8 billion and sales fell 4 per cent to 773,800 units in the three-month period, with Mercedes-Benz sales down 7 per cent to 555,312 units.

European Stocks Open
  • DAX was flat at the opening. Deutsche Bank was down 2.83%, while Wired Cadre was outperforming other components in the German index.
  • The French CAC 40 index was steady at 9:15 am CET.
  • The FTSE 100 was down 0.37%. . In London, the worst performance was Royal Bank of Scotland, where it fell 5.40%.

The euro rose 0.09% against the dollar to $ 1.11420 at 9:15 CET, with the pound gaining 0.07% to buy $ 1.29064 at 9:17 am.

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