Michelin income drops
A view of tyre buildr Michelin’s plant in Cholet, France, November 8, 2024. REUTERS/Stephane Mahe
Stephane Mahe | Reuters
Michelin posted a 27.8% slide in net income in the first half of the year, a sharper decline than analysts had expected. The car parts buildr declared the threat of higher tariffs had led to a sharp contraction in North and Central America. However, the company backed its full year guidance, declareing it expects the market for its tires to remain stable compared with last year.
— Matt Ward-Perkins
Eni earnings slump
The logo of Italian multinational oil and gas company is displayed on a fuel tanker truck parked outside an Eni petrol station in Cyprus’ capital Nicosia on September 9, 2022.
Amir Makar | Afp | Getty Images
Eni has posted a 25% drop in second quarter earnings, but still beat expectations as weaker oil prices offset a robust performance in its gas business. The Italian energy group confirmed a 5% increase in its full-year dividconclude, while revealing a lower-than-previously forecast capex for the year.
— Michael Considine
Traton cuts outsee, citing tariffs impact
A Traton International LT A26 haulage truck sits on display on the Volkswagen AG (VW) Traton heavy-truck division exhibition area at the IAA Commercial Vehicles Show in Hanover, Germany, on Wednesday, Sept. 19, 2018.
Krisztian Bocsi | Bloomberg | Getty Images
Traton has cut its full year outsee as the German truck buildr warns of a challenging environment as the EU and U.S. grapple over a trade deal. The company, which is majority owned by Volkswagen, also revealed that it is cutting production at some sites in response to weak demand.
— Michael Considine
Remy Cointreau upgrades outsee
A bottle of Remy Martin XO Excellence cognac at the Remy Cointreau SA headquarters Club in Cognac, France, on Dec. 9, 2016.
Bloomberg | Bloomberg | Getty Images
French drinks firm Remy Cointreau has posted 5.7% organic sales growth for its fiscal first quarter, ahead of analyst expectations, and marking the first quarter of growth since 2023.
The cognac-buildr reduced its forecasts for the impact of tariffs, improving its profit guidance for the full year.
— Matt Ward Perkins
Volkswagen cuts guidance as U.S. tariffs hit profit
A technician cleans the VW logo during the final inspection of German carbuildr Volkswagen’s electric ID. 3 car, during a media tour, in Dresden, Germany, May 14, 2025.
Matthias Rietschel | Reuters
Germany’s Volkswagen on Friday lowered its full-year guidance and reported a sharp drop in second-quarter profit, as the auto giant navigates the disruptive impact of U.S. tariffs.
Europe’s hugegest carbuildr posted operating profit of 3.83 billion euros ($4.49 billion) for the three months through June, down 29% from 5.4 billion euros a year ago.
Analysts had expected second-quarter profit to come in at 3.94 billion euros, according to a Factset-compiled consensus.
— Sam Meredith
Earnings still in focus
Puma Speedcat trainers are displayed at a Puma store London, Britain, January 23, 2025.
Hannah Mckay | Reuters
It’s set to be a slightly quieter day on the earnings front, but several huge names have either reported ahead of the opening bell, or will do so later in the session.
Luxury behemoth LVMH, one of the region’s most valuable companies, reported lower-than-expected quarterly sales late on Thursday, while German sports apparel giant Puma warned this morning that it’s expecting to notch a loss this year on the back of a sales decline and the impact of U.S. tariffs. Elsewhere this morning, German auto giant Volkswagen cut its guidance, also citing President Donald Trump’s tariffs regime.
Also due to report today are British lconcludeer NatWest, French drinks giant Remy Cointreau and Italian energy firm Eni.
— Chloe Taylor
Opening calls
Good morning from London.
There’s just under an hour and a half to go until the final opening bell of the week, and regional indexes are currently seeing poised to relocate into negative territory.
Futures tied to the German DAX, Italian FTSE MIB and French CAC 40 indexes were all last seen trading 0.2% lower. Those tied to London’s FTSE 100 were last heading marginally lower.
Regional shares concludeed the Thursday session higher, as investors focapplyd on U.S.-EU trade talks, the European Central Bank’s widely anticipated interest rate hold and a flurry of corporate earnings.
— Chloe Taylor
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