-- The recent selloff in UBS Group AG shares underscores the Swiss bank’s challenge to demonstrate its Credit Suisse Group AG acquisition is on solid ground.Xi Begins Europe Tour in Paris as Macron Seeks to Reset Ties
BP’s adjusted net income probably stayed flat, sequentially, as higher production and strong oil-and-gas trading helped counteract a softer performance in gas and low carbon energy, BI’s Will Hares says. The refining margin is seen shrinking almost 30% to $20.10 per barrel, consensus shows. The first-quarter $1.75 billion buyback tranche expected to be repeated in the second quarter.
Like Volkswagen and Mercedes-Benz before it, BMW’s automotive margin probably shrank in the first quarter on lackluster volumes and intense price competition in China. But it should still be within the targeted full-year corridor of 8% to 10%, if not at the upper end of that range, said BI’s Michael Dean. BMW’s resilience to upheaval in the electric-car market meant customer deliveries of battery-powered models such as the i4, iX1 and i7 jumped 41% in the three months through March.
Friday: IAG will be leaning on premium leisure demand to bolster revenue and offset a slower rebound on the corporate side. Pay negotiations at Vueling and Aer Lingus could add to cost inflation, while a tight labor market and geopolitical developments could pose disruption risk for the British Airways owner, said BI’s Conroy Gaynor. At the same time, with traffic, operations and the balance sheet on the mend, a resumption of the dividend shouldn’t be ruled out.
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