Corporate results:
- Allianz posted higher first-half net income.
- Antofagasta improved its results.
- Deliveroo raised its earnings forecasts despite a drop in orders.
- Deutsche Telekom again slightly raised its forecast for 2023.
- Generali exceeded consensus in first-half thanks to non-life segment.
- Grenke lowered its forecasts.
- Hapag-Lloyd notes an increase in recent demand and a recovery in freight.
- KBC improves interim results and confirms forecasts.
- MorphoSys reduced losses more than expected.
- Novo Nordisk raised its full-year forecasts, due to booming demand for its slimming drug Wegovy.
- Illumina cut its forecasts due to persistent financing problems in the biotech sector.
- ISS posted stronger-than-expected second-quarter growth, but France suffers.
- Siemens AG returned to profit in third quarter.
- Sony down in Tokyo after poorly received results.
- ThyssenKrupp targets the upper end of its operating profit guidance range.
- Walt Disney shares advanced by 1.9% before the opening, as the company posted third-quarter sales of $22.33 billion, below consensus of $22.5 billion. However, the group said it was focusing on cost reductions.
- Alibaba was up 3.8% before the opening. The group reported a first-quarter operating margin of 18%.
- Manulife Financial advanced 3.5% after the close, as Canada's largest insurer reported better-than-expected quarterly earnings, fueled by strong insurance sales in Asia.
In other news:
- Tapestry, the owner of Coach, is close to concluding an agreement to buy Capri Holdings, the owner of Michael Kors, reported the Wall Street Journal.
- Italian banks rallied on Tuesday, following the Meloni government's decision to cap the tax on their "excess profits".
- The US Supreme Court grants a reprieve to Apple's App Store payment rules, while Epic sought immediate enforcement of the ruling won on appeal.
- Ahold Delhaize still plans to float its Bol.com subsidiary on the stock exchange.
- KKR - An agreement between the fund and the Italian Treasury for a bid for Telecom Italia's landline network could be reached soon, according to sources close to the matter.
- Meta adds new features to Threads after more than half of users quit the application.
- Saipem wins $1 billion gas services contract in offshore Libya.
- Eli Lilly completes acquisition of DICE Therapeutics (USD 48 per share).
- Regeneron Pharmaceuticals to acquire Decibel Therapeutics at USD 4 per share.
- Roche's lung cancer drug receives US FDA approval.
- Rheinmetall confirms purchase of 30 battle tanks to support Ukraine.
- RWE quadruples its investments to €9 billion in H1, including €6.3 billion for the acquisition of US-based Consolidated Edison's renewable energy business.
- Chinese household appliance manufacturer Midea considers listing in Hong Kong.
- Verizon raises prices again.
- Dissenting GAM shareholders withdraw their proposals from the AGM.
- Chevron and Woodside in talks to avoid strikes at Australian LNG facilities.
- American Airlines credit rating upgraded to B1 from B2, with stable outlook by Moody's.
- Ontex to sell its Algerian operations to Hygianis.
- CVC Capital Partners plans to float German perfume and cosmetics retailer Douglas, based on a valuation of €7 billion, according to several sources.
Today's main earnings reports: Alibaba, Tokyo Electron, The Trade Desk, Rheinmetall, Unipolsai, ThyssenKrupp, HelloFresh, Unipol, ISS, CompuGroup... The whole earnings calendar is here.