On Friday, the main indices following the European stock market went in different directions after the start of trading.
After a while of trading, the broad Euro Stoxx 600 index was close to zero, up 0.1 percent. The CAC 40 index, which follows the Paris stock exchange, was up 0.1 percent and Frankfurt’s DAX index was down 0.4 percent. The OMXS30 index, which follows the Stockholm Stock Exchange, was down 0.1 percent.
German car manufacturer Mercedes-Benz Group will report its results for the second quarter on Friday morning. The company’s ebit result fell to 4.0 billion euros from 5.0 billion euros in the comparison period. Turnover fell to 36.7 billion euros, while it was 38.2 billion euros at the same time a year earlier. The result exceeded expectations, but the turnover fell short of forecasts.
Mercedes-Benz clarified its guidelines in connection with the results publication. The company changed its expectation of the return on sales (ROS) of car sales to between 10 and 11 percent, while previously it was between 10 and 12 percent. The gap between vans narrowed to 14–15 percent from the previous 12–14.
The company’s result was down about 1.6 percent in the morning.
Italian energy company Eni reported a better-than-expected interim report on Friday. In the second quarter of the year, the company’s net profit rose to 661 million euros from 294 million euros in the comparison period. Adjusted operating income decreased by 3 percent to 4.11 billion euros.
Eni raised its guidance to 2024 and now expects adjusted operating profit to be around 15 billion euros and free cash flow to be more than 14 billion euros. Earlier estimates of both figures were around 14 billion euros.
Eni’s share was up 3.2 percent after trading for a while.
Based on index futures, Wall Street is predicted to open higher.
Source: www.arvopaperi.fi
