European markets had a positive start to trading on Tuesday as traders monitor a flurry of earnings reports in the region.index was 0.7% higher at 10:40 a.m. in London, with most sectors in the green. Financial services led gains, up 2.6%.Squawk Box Europewere more than 3% higher at 9:50 a.m. in London, trading at their highest level since 2011, according to LSEG data.net profit of 2.
"We had an excellent quarter across every business and every metric, it's a record, it's the thirteenth quarter of profitable growth, and very simply we're getting more confident on what we can get this year and we're getting ahead on our plan of accumulating profit during the year," UniCredit CEO Andrea Orcel told CNBC's Charlotte Reed on Tuesday.shares were 8% higher at 9:39 a.m.
Macroeconomic uncertainties may have pushed consumers - particularly those from China - to tighten their purse strings and reduce spending on luxury goods. However, Barclays notes that several companies in the sector make good plays right now. While Chinese consumers' spending intentions for the ongoing quarter shows that they plan to spend more money on luxury, the investment bank's analysts "remain cautious about the possibility of seeing improving trends."
Still, expenditure on luxury goods is expected to 68% this year, up from 66% in 2023, they wrote, revealing the three names the like.On Tuesday, earnings are set to come from BP, S4 Capital, Siemens Healthineers, Deutsche Post, Infineon, Bouygues, UBS, Adecco, Banco de Sabadell and Unicredit, among others.
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