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Business Recorder
a day ago
- Automotive
- Business Recorder
European stocks rise amid earnings flurry, investors asses US-EU trade deal
European equities edged higher on Tuesday, lifted by gains in EssilorLuxottica amid a slew of corporate results, while investors also assessed the implications of the newly signed trade pact between Washington and Brussels. The pan-European STOXX 600 index gained 0.3% by 0715 GMT. Most regional bourses also traded higher, with Germany's DAX and France's CAC adding 0.5% each. The benchmark STOXX 600 rose 0.9% to hit a four-month high early in Monday's session but reversed course to close about 0.2% lower, as investors weighed the impact of a new 15% levy on most European Union goods, which is significantly higher than pre-2025 levels. European shares close lower as US-EU trade deal draws mixed response Among individual stocks, Franco-Italian eyewear group EssilorLuxottica shares jumped 5.4% after the companyreported an increase in first-half operating profit despite a tariff hit. Dutch company Philips rose almost 9% to the top of the index after the healthcare technology group lowered its tariff impact estimates following the U.S.-EU trade deal. On the flipside, car distributor Inchcape dropped 6.3% and ranked as the top decliner after posting a first-half profit drop due to tariff impact.
Business Recorder
5 days ago
- Business
- Business Recorder
European shares settle lower as investors gauge mixed earnings
FRANKFURT: European shares closed lower on Friday, as investors assessed mixed corporate earnings while awaiting updates on a framework of an EU-US trade deal that officials said could be reached as early as this weekend. Investors navigated the peaks and troughs around a potential agreement between the two large economies after a busy week of trade discussions with the US culminated in deals with Japan, Indonesia, and the Philippines. The pan-European STOXX 600 index dropped 0.6% to session lows after US President Donald Trump said there was less chance of an agreement with the EU, but pared losses after EU diplomats reiterated that a deal of 15% duties on European goods was still in the works. The index last closed 0.2% lower with most regional bourses in red, but on a weekly basis, the STOXX index was on track for modest gains. 'It's hard to spin it as a good deal, but it would at least avoid much higher US tariffs and retaliation from the EU,' said Jack Allen-Reynolds, deputy chief euro zone economist at Capital Economics. 'The reported deal with the US would take a major downside risk off the table for now, weakening the case for further interest rate cuts.' Also weighing on stocks were elevated bond yields that got a lift after the European Central Bank's comments on Thursday tempered expectations of imminent interest rate cuts. Meanwhile, corporate earnings were in full swing. Puma was the biggest percentage loser on the benchmark index, falling 16%, its largest daily drop in more than four months. The sportswear brand cut its full-year outlook and reported weaker-than-expected quarterly results. London-listed sports retailer JD Sports slipped 0.7% after Puma's results. On the flip side, LVMH gained 3.9% after the French luxury group reported quarterly results, with analysts pointing to hopes on the horizon as the group said it saw signs of recovery in the Chinese market. The broader luxury index rose 1.8% and was the top sectoral performer. Automobile stocks gained 1.4%, boosted by Volkswagen's 4.6% rise after the CEO of Europe's biggest carmaker said cost cuts must be accelerated in response to tariffs. Earlier in the session, shares took a hit on the company's slashed full-year sales and profit margin forecasts.
Business Recorder
5 days ago
- Business
- Business Recorder
European shares settle lower as investors gauge mixed earnings, EU-US trade progress
European shares closed lower on Friday, as investors assessed mixed corporate earnings while awaiting updates on a framework of an EU-U.S. trade deal that officials said could be reached as early as this weekend. Investors navigated the peaks and troughs around a potential agreement between the two large economies after a busy week of trade discussions with the U.S. culminated in deals with Japan, Indonesia, and the Philippines. The pan-European STOXX 600 index dropped 0.6% to session lows after U.S. President Donald Trump said there was less chance of an agreement with the EU, but pared losses after EU diplomats reiterated that a deal of 15% duties on European goods was still in the works. The index last closed 0.2% lower with most regional bourses in red, but on a weekly basis, the STOXX index was on track for modest gains. 'It's hard to spin it as a good deal, but it would at least avoid much higher U.S. tariffs and retaliation from the EU,' said Jack Allen-Reynolds, deputy chief euro zone economist at Capital Economics. 'The reported deal with the U.S. would take a major downside risk off the table for now, weakening the case for further interest rate cuts.' Also weighing on stocks were elevated bond yields that got a lift after the European Central Bank's comments on Thursday tempered expectations of imminent interest rate cuts. European shares close higher after ECB leaves rates unchanged Meanwhile, corporate earnings were in full swing. Puma was the biggest percentage loser on the benchmark index, falling 16%, its largest daily drop in more than four months. The sportswear brand cut its full-year outlook and reported weaker-than-expected quarterly results. London-listed sports retailer JD Sports slipped 0.7% after Puma's results. On the flip side, LVMH gained 3.9% after the French luxury group reported quarterly results, with analysts pointing to hopes on the horizon as the group said it saw signs of recovery in the Chinese market. The broader luxury index rose 1.8% and was the top sectoral performer. Automobile stocks gained 1.4%, boosted by Volkswagen's 4.6% rise after the CEO of Europe's biggest carmaker said cost cuts must be accelerated in response to tariffs. Earlier in the session, shares took a hit on the company's slashed full-year sales and profit margin forecasts. Still, Traton, a truck unit of German automaker Volkswagen, fell 4.1%. Carrefour gained 5.5% after Europe's biggest food retailer reported its half-year results. Attention next week will turn to key events, including policy decisions from the Federal Reserve, earnings from several 'Magnificent Seven' companies, and Trump's August 1 tariff deadline.
Mint
19-07-2025
- Business
- Mint
Small-cap stock below ₹100 will be in focus on Monday amid ₹173 crore order from NBCC
Shares of Globe Civil Projects will be on focus on Monday, July 21 following the receipt of a letter of award from NBCC (India) for the construction of infrastructure facilities and buildings valued at ₹ 193.13 crore. 'M/S GLOBE CIVIL PROJECTS LIMITED' has received a Letter of Award for "Construction of the Infrastructure facilities works/buildings i.e. Academic building, residential buildings, campus development etc. in campus of Central University of Punjab at village of Ghudda, Distt. Bathinda (Pb.) on EPC Basis," said the company in an exchange filing. Recently, the shares of Globe Civil Projects, a provider of engineering and construction services, debuted at a 28.3% premium on the exchanges on July 1. The stock launched at ₹ 91.10 on the BSE and ₹ 90 on the NSE, indicating a 26.76% increase from its issue price of ₹ 71. Globe Civil Projects share price ended with a premium of over 33% in market debut as against the issue price of ₹ 71. This marks the company's initial order since its launch on the bourses. On Friday, Globe Civil Projects shares ended 2.61% higher at ₹ 87.97 apiece on the BSE. The initial public offering of ₹ 119 crore was priced between ₹ 67 and ₹ 71 per share. Globe Civil Projects plans to allocate ₹ 75 crore of the IPO funds to meet its working capital needs, ₹ 14.26 crore for capital expenditures related to acquiring construction equipment/machinery, and the remaining amount will be directed to general corporate purposes and the costs related to the issue, as stated by the company. On the last day of bidding, the initial share sale of Globe Civil Projects was oversubscribed by an impressive 86 times. The company's market capitalization was valued at ₹ 565.66 crore. Globe Civil Projects Limited is a full-service Engineering, Procurement, and Construction (EPC) company situated in New Delhi. The firm has successfully executed projects in 11 states throughout India, including Uttar Pradesh, Haryana, Delhi, Maharashtra, Andhra Pradesh, Karnataka, Gujarat, Chhattisgarh, Rajasthan, Uttarakhand, and Himachal Pradesh. As of August 31, 2024, the company's total order backlog stands at ₹ 8,929.45 million, covering 14 different projects. According to the red herring prospectus (RHP), the company's listed competitors include B L Kashyap and Sons Ltd (with a P/E ratio of 29.57), Ceigall India Ltd (with a P/E ratio of 12.88), PSP Projects Ltd (with a P/E ratio of 20.38), Capacit'e Infraprojects Ltd (with a P/E ratio of 20.56), and Ahluwalia Contracts (India) Ltd (with a P/E ratio of 16.41).
Mint
19-07-2025
- Business
- Mint
Small-cap stock below ₹100 will be in focus on Monday amid ₹173 crore order from NBCC
Shares of Globe Civil Projects will be on focus on Monday, July 21 following the receipt of a letter of award from NBCC (India) for the construction of infrastructure facilities and buildings valued at ₹ 193.13 crore. 'M/S GLOBE CIVIL PROJECTS LIMITED' has received a Letter of Award for "Construction of the Infrastructure facilities works/buildings i.e. Academic building, residential buildings, campus development etc. in campus of Central University of Punjab at village of Ghudda, Distt. Bathinda (Pb.) on EPC Basis," said the company in an exchange filing. Recently, the shares of Globe Civil Projects, a provider of engineering and construction services, debuted at a 28.3% premium on the exchanges on July 1. The stock launched at ₹ 91.10 on the BSE and ₹ 90 on the NSE, indicating a 26.76% increase from its issue price of ₹ 71. Globe Civil Projects share price ended with a premium of over 33% in market debut as against the issue price of ₹ 71. This marks the company's initial order since its launch on the bourses. On Friday, Globe Civil Projects shares ended 2.61% higher at ₹ 87.97 apiece on the BSE. The initial public offering of ₹ 119 crore was priced between ₹ 67 and ₹ 71 per share. Globe Civil Projects plans to allocate ₹ 75 crore of the IPO funds to meet its working capital needs, ₹ 14.26 crore for capital expenditures related to acquiring construction equipment/machinery, and the remaining amount will be directed to general corporate purposes and the costs related to the issue, as stated by the company. On the last day of bidding, the initial share sale of Globe Civil Projects was oversubscribed by an impressive 86 times. The company's market capitalization was valued at ₹ 565.66 crore. Globe Civil Projects Limited is a full-service Engineering, Procurement, and Construction (EPC) company situated in New Delhi. The firm has successfully executed projects in 11 states throughout India, including Uttar Pradesh, Haryana, Delhi, Maharashtra, Andhra Pradesh, Karnataka, Gujarat, Chhattisgarh, Rajasthan, Uttarakhand, and Himachal Pradesh. As of August 31, 2024, the company's total order backlog stands at ₹ 8,929.45 million, covering 14 different projects. According to the red herring prospectus (RHP), the company's listed competitors include B L Kashyap and Sons Ltd (with a P/E ratio of 29.57), Ceigall India Ltd (with a P/E ratio of 12.88), PSP Projects Ltd (with a P/E ratio of 20.38), Capacit'e Infraprojects Ltd (with a P/E ratio of 20.56), and Ahluwalia Contracts (India) Ltd (with a P/E ratio of 16.41). Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
